Nkechinyere Ewa
Ebonyi State Governor, Francis Ogbonna Nwifuru, has revealed plans to secure a ₦150 billion loan to kick-start the establishment of a state-owned cement factory, a project he described as one of the most ambitious economic ventures in the history of the state.
Governor Nwifuru made the announcement while presenting the 2026 Appropriation Bill to Ebonyi citizens for their contribution, stressing that the borrowing plan marks the first time the state is directly including a loan component in its budget to drive a major revenue-generating investment.
“We agreed in council that we will borrow ₦150 billion to start the construction and production of a cement factory. This project will fund itself and pay back the loan,” he said, adding that Ebonyi possesses the mineral deposits, technical knowledge, and political will to build a fully functional cement plant that will become a signature development landmark.
The governor described the budget as a “collective dream” rooted in his administration’s philosophy of a people’s charter of needs a system that places citizens at the center of policy, projects, and investment decisions.
According to Nwifuru, the 2026 budget is the largest ever proposed in the state, reflecting a sweeping investment across key sectors, particularly infrastructure and economic development, which collectively account for about 84% of the total spending plan.
He expressed gratitude to members of the State Executive Council for working tirelessly over the past week to finalize the proposal, noting that the scale of the budget is both a challenge and a responsibility that his administration is prepared to confront.
Highlighting ongoing mega projects, the governor pointed to the construction of the state’s groundbreaking backbone flyover and an expanded tunnel project, which was redesigned from 100 meters to over 840 meters. He assured residents that the infrastructural rollout will speak louder than any publicity.
Nwifuru also revealed that Ebonyi is preparing for an unprecedented commissioning marathon in 2027, where completed projects will be inaugurated daily from May 1 to May 27, 2026. President Bola Ahmed Tinubu, he said, is expected to be in the state for several days to commission at least ten major projects.
On revenue reforms, the governor emphasized that the state will fully implement the new national tax law beginning January 1, 2026. Under the new structure, low-income residents will be exempted from tax, while wealthier individuals many of whom currently evade payments will be compelled to contribute their fair share.
He reassured Ebonyians of his commitment to fulfilling all campaign promises and delivering 100% of the projects outlined in the new budget, especially in infrastructure and human capital development.
“By the time we are completing this tenure, every Ebonyian will be proud to say they were part of this government,” Nwifuru said. “God has been with us, and with your continued support and prayers, we will achieve everything listed in this budget.”
He urged citizens, political stakeholders, and community leaders to rally behind the spending plan, declaring that no one who supports the administration will regret their decision when its legacy becomes fully visible.