In the aftermath of last Tuesday’s devastating explosion in Ibadan, Oyo State, which claimed five lives, injured 77 individuals, and left thousands homeless, preliminary estimates suggest that properties worth around N50 billion may have been lost.
Estate valuers and cost consultants have conservatively calculated the potential damages, indicating that approximately 230 affected houses, valued at N150 million each, could result in a total loss of N34.5 billion. The remaining balance would account for damages to critical infrastructure and vehicles.
Oyo State Governor, Seyi Makinde, revealed that structural integrity tests have been conducted on the 230 affected houses to assess the risk of possible collapses. The government is actively involved in resettling affected residents and managing the aftermath of the tragic incident.
Experts caution that these estimates are tentative and may not be definitive until estate valuers have access to all relevant property documents. The state government has announced the completion of rescue operations at the explosion site, focusing on fumigation to address environmental concerns.
A Federal Government delegation, including Minister of Solid Minerals Dele Alake and National Security Adviser Nuhu Ribadu, is expected to visit the explosion site for an on-the-spot assessment. The purpose is to determine the extent of support and palliative measures needed for victims and residents.
Preliminary investigations point to dynamite stored by illegal miners as the immediate cause of the explosion, but no arrests have been made.
The affected areas, including Dejo Oyelese Street, Canon Odusanwo Street, and Rev Aderinola Street, have suffered substantial damage, impacting structures such as the state government secretariat and University College Hospital.
The Oyo State chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Pastor Oluseyi Adebayo, and a lecturer at the Estate Management Department of Lead City University, Mr. Adewale Adedokun, emphasize the difficulty in accurately valuing the loss without proper documentation. They stress the need for integrity tests on all affected buildings and a comprehensive analysis of the environmental impact of the explosion.
Concerns are raised about the need to review mining laws regarding the storage of explosives, and experts urge the government to engage relevant professionals to assess the situation comprehensively. Calls are made for an in-depth investigation into the incident to prevent similar occurrences and enhance community safety.
