Ondo state governor confirms n6 5 billion state allocation from the paris club deduction

It appears that the Governor of Ondo State, Mr. Oluwarotimi Akeredolu, has confirmed that the state has received a whopping N6.5 billion allocation from the Paris Club deduction.

According to reports, the Governor made this announcement during a meeting with the State House of Assembly, where he briefed the lawmakers on the state's financial situation.

The Paris Club deduction is a refund of overpaid debts by Nigeria to the Paris Club, a group of international creditors. The refund is meant to be distributed among the 36 states of the federation, with each state receiving a proportionate share based on its contribution to the national debt.

It's worth noting that the allocation of the Paris Club refund is usually a welcome development for states, as it provides a much-needed boost to their finances. In Ondo State's case, the N6.5 billion allocation is expected to help the state government address some of its financial challenges and fund key projects and initiatives.

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