Oyo State has adopted a revised compensation structure for landowners affected by government-acquired lands, following the implementation of a new national framework introduced by the Federal Government.
The update was announced on Wednesday by the Oyo State Commissioner for Lands, Housing, and Urban Development, Mr Williams Akin-Funmilayo, during the formal presentation of the updated policy document from the Federal Ministry of Housing and Urban Development.
According to a statement issued in Ibadan by the Commissioner for Information and Orientation, Mr Dotun Oyelade, Akin-Funmilayo explained that the reviewed rates would strengthen the state’s ability to uphold fairness and transparency in land administration processes.
“Land acquisition plays a central role in land management, and fair compensation must always accompany it. This new structure introduces a more equitable approach to compensating individuals affected by public projects,” the statement quoted him as saying.
He commended Governor Seyi Makinde for facilitating Oyo State’s active participation in the harmonisation exercise and revealed that the state had previously submitted its recommendations to the federal authorities to inform the policy’s final shape.
Also present at the handover ceremony was Mr Adelani Israel, a representative of the Federal Ministry of Housing and Urban Development, who stressed the need for immediate reform of the previous guidelines.
He stated that the existing framework, established in 2008, had become obsolete and no longer aligned with current economic conditions or global best practices.
