The Oyo State Government has received newly revised compensation rates for crops and economic trees, aimed at ensuring fairness and justice for landowners affected by public development projects.
The document was formally presented on Wednesday by a representative of the Federal Government, with the state’s Commissioner for Lands, Housing, and Urban Development, Williams Akin-Funmilayo, receiving it on behalf of the state.
In a statement released on Thursday by the Commissioner for Information and Orientation, Dotun Oyelade, Akin-Funmilayo said the revised rates would greatly improve land administration processes within the state.
The Federal Government initiated the compensation review to provide equitable settlements for individuals affected by land acquisition for public infrastructure projects.
The statement emphasized that fair compensation is essential to effective land management. “This review provides a more just framework for compensating project-affected persons,” it read.
Akin-Funmilayo noted that the Oyo State Government had earlier submitted its own recommendations to the Federal Government for consideration during the harmonisation process. He also praised Governor Seyi Makinde for his support of the initiative.
“This development will significantly enhance our land management systems and ensure that citizens who give up land for public benefit are properly compensated,” he added.
The updated rates are expected to guide future land acquisition activities and improve transparency, fairness, and accountability in compensation procedures across the state.
Adelani Israel, representing the Federal Ministry of Housing and Urban Development, highlighted the importance of the revision, stating that the previous compensation framework—established in 2008—was outdated and no longer aligned with current economic conditions or global standards.
