Francis Nwifuru, Ebonyi State Governor, has announced that the State will borrow ₦150 billion to kick-start the construction of a state-owned cement factory.
The cement factory, a signature project the governor said would transform the State’s economic landscape when completed.
Governor Nwifuru made the declaration on Monday during formal presentation of 2026 Appropriation Bill to Ebonyi Citizens for their input at the Christian Ecumenical Centre, Abakaliki, stressing that the borrowing is a strategic investment expected to repay itself through the proceeds of cement production.
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According to him, the project has been carefully studied by the State Executive Council, which agreed that borrowing is necessary to fund it “from the beginning to the end,” with the expectation that the factory will generate enough revenue to offset the loan without burdening the state’s treasury.
The governor described the budget presentation as more than a routine exercise, but a reflection of his administration’s “people’s charter of needs,” built on policies and investments that place the citizens at the center of governance.
“What we are presenting today is not just a mere document, but a collective dream of the finest people of Ebonyi that will be translated into reality,” he said, urging stakeholders to support the spending plan and its ambitious targets.
He noted that the 2026 budget would be the highest in the State’s history, acknowledging the huge demand it places on the Government and lawmakers. Members of the State Executive Council, he said, have worked round the clock over the past week to perfect the fiscal proposal.
Governor Nwifuru also highlighted ongoing infrastructural projects, including the State’s signature double-deck flyover and tunnel, which he described as the first of its kind in the South-East. He assured that major projects would be rolled out for inauguration daily between May 1st and May 27, 2026, with President Bola Tinubu expected to inaugurate at least ten of them.
He further explained that the new national tax law aligns with the State’s tax approach: the rich will now pay more, while low-income earners many of whom currently pay tax will be exempted beginning January 1, 2026.
The governor reiterated his commitment to fulfilling all promises made during his campaign and previous budget cycles, assuring Ebonyi people that infrastructural and human-capital projects would be implemented “100 percent with God’s grace and the people’s support.”
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He thanked the State’s political leaders, citizens, and supporters for their faith in his administration, adding that at the end of his tenure, every resident would have reasons to take pride in the legacies left behind.
“Nobody will regret standing with this government,” he said. “By the time we are handing over, everyone will have something to show a legacy this government left behind.”
