This research analyses the socio-economic implications of approaches to urban renewal on displaced populations in Ogun State, south-west Nigeria. In the last 5 years, massive renewal has been undertaken in five local government areas—Abeokuta North, Ado/Odo Ota, Sagamu, Yewa South and Ijebu Ode of the State from which two—Abeokuta North and Ado-Odo/Ota—were purposively selected to carry out this study. Primary data through administration of structured questionnaires to randomly selected 420 affected adults who either had their houses or shops demolished formed the source of data. However, 380 questionnaires were returned and cleaned upon which all were analyses based. Results from binary logistic regressions show that urban renewal has significant effects on the occupation (odds ratio = 3.0; p < 0.01) and income (p < 0.01) of those affected. Urban renewal also significantly affects the health status of the local residents because results show that persons whose houses or shops were demolished are twelve times more likely to lose sound sleep (odds ratio = 12.08; p < 0.01) and also have serious issues with loss of appetite (p < 0.01) and sadness (p < 0.01) all of which are symptoms of depression. These take place as a result of avoidable consequences like forced displacements and disregard for residents’ economic, social and cultural (ESC) rights all engendered by poorly planned and poorly executed urban renewal. We therefore recommended that urban renewal in Nigeria be more holistic and that compensation be commensurate with the value of property demolished so that incidence of depression which is significant here would not reoccur in subsequent similar endeavours.
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