By Newspot Nigeria News Desk
The Oyo State Government has received and formally acknowledged the newly revised compensation rates from the Federal Government for crops and economic trees affected by public land acquisition. This development is set to usher in a more just and transparent compensation framework for landowners across the state.
During the handover ceremony in Ibadan on Wednesday, the Oyo State Commissioner for Lands, Housing, and Urban Development, Mr. Williams Akin Funmilayo, received the official document from Mr. Adelani Israel, a representative of the Federal Ministry of Housing and Urban Development.
The Federal Government had earlier revised the compensation rates to reflect current economic realities and global standards, replacing the outdated 2008 framework.
Speaking at the event, Mr. Akin Funmilayo lauded the initiative, describing it as a critical milestone that will enhance land governance and fairness in compensation practices.
“Land acquisition is a critical component of land management, and it must be accompanied by fair compensation,” he said.
He emphasized that the Oyo State Government had previously submitted its inputs during the harmonization process and commended Governor Seyi Makinde for backing the initiative.
“This development will go a long way in strengthening our land management processes and ensuring that those who make sacrifices for public development are adequately compensated,” he added.
The revised rates will now serve as a benchmark for all future land acquisition exercises in Oyo State, aligning the state’s policies with international best practices while ensuring accountability and justice for affected citizens.
Mr. Adelani Israel, who represented the Federal Ministry, also highlighted the need for the update, noting that the previous framework no longer addressed the present-day value of crops and trees, thereby shortchanging affected persons.
“This review is long overdue and crucial to maintaining fairness and transparency in land acquisition across Nigeria,” he said.
The implementation of the revised rates is expected to improve cooperation between landowners and authorities in public project planning and execution.
Below is the full press release made available to Newspot Nigeria:
Press Release
Oyo Govt Receives Revised Compensation Rates for Land Acquisition
The Oyo State Government on Wednesday, received the revised compensation rates on crops and economic trees for landowners affected by projects to ensure fairness and justice.
The Commissioner for Lands, Housing, and Urban Development, Mr. Williams Akin Funmilayo stated this while receiving the document from the representative of federal government.
Recall that the Federal Government introduced the revised compensation rates for individuals affected during land acquisitions for public projects.
Akin-Funmilayo expressed appreciation for the initiative, stating that it will significantly enhance the state’s capacity for effective land administration.
He said, “Land acquisition is a critical component of land management, and it must be accompanied by fair compensation.”
He added, “This review provides a more just framework for compensating project-affected persons.”
Mr. Akin-Funmilayo also noted that the State Government had earlier submitted its recommendations to the Federal Government for harmonization, and commended Governor Seyi Makinde for supporting the initiative.
“This development will go a long way in strengthening our land management processes and ensuring that those who make sacrifices for public development are adequately compensated,” he posited.
He said that the reviewed rates are expected to guide future land acquisition exercises and promote transparency, fairness, and accountability in compensation practices across the state.
Earlier, the representative of the Federal Ministry of Housing and Urban Development, Mr. Adelani Israel, emphasized the importance of the review, noting that the existing compensation framework which was established in 2008, is outdated and no longer reflects current economic realities or international best practices.
E-signed:
Prince Dotun Oyelade,
Commissioner for Information and Orientation,
Oyo State.
August 7, 2025.
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