Ebonyi Govt To Construct N150bn Cement Factory

The government of Ebonyi State has proposed a budget of ₦884bn for the 2026 fiscal year.

The budget, tagged “Budget of Actualisation and Hope,” included the construction of a state-owned cement factory valued at ₦150bn.

Gov Francis Nwifuru stated this during the budget presentation in Abakaliki. He said more than 84 per cent of the spending plan would be dedicated to infrastructure and economic development.

Gov Francis Nwifuru, who presented the proposal during a civic engagement session at the Christian Ecumenical Centre, Abakaliki, described the budget as the most comprehensive in the state’s history. He said the budget was a product of “a rigorous assessment of sectoral needs”.

According to Gov Nwifuru, the rise from previous annual budgets averaging about ₦89bn to the new ₦884bn proposal was enabled by increased fiscal space following the removal of fuel subsidy at the federal level.

He said, “What was impossible is now possible. Without the delivery of subsidy, our budget wouldn’t jump from N89bn to over N800bn. That is the evidence and benefit of the removal of fuel subsidy.”

Gov Nwifuru commended President Bola Tinubu for reforms that strengthened the capacity of states to drive transformative development.

The governor said the cement project would be funded through a loan, which, according to him, would be entirely self-financing.

He said, “We agreed in council that this project will borrow money to fund itself from beginning to end. And this project will generate the same money to repay the loan. Geological evaluations are ongoing to identify the most viable location with adequate limestone deposits.”

Governor Nwifuru also announced the introduction of a new tax regime beginning January 1, 2026. He said the policy was structured to make taxation more equitable by ensuring that wealthy individuals currently avoiding taxes contribute their fair share, while low-income earners particularly those earning below ₦20,000 annually are exempted.

“The poor, who are paying tax today, will stop paying to allow their income grow again,” he said.

The governor assured of his administration’s commitment to completing all ongoing projects, noting that delays in some flagship initiatives were due to design adjustments and expansion.

He cited the example of the VANCO junction tunnel in Abakaliki, which was originally planned at 100 metres but redesigned to over 840 metres to meet long-term infrastructural needs. Nwifuru revealed that Ebonyi would hold a 27-day commissioning exercise from May 1 to May 27, 2026.

He said President Tinubu was expected to visit the state at least four times to inaugurate no fewer than ten major projects. He said his administration had resolved to fully implement the 2026 budget.

“With your support and prayers, we will implement this budget 100% in infrastructure and in human capital development. By the time we are handing over, everyone here will have something to show as part of the legacy of this government,” he said.

He urged residents to remain united and supportive of the state’s development trajectory as Ebonyi embarks on what he described as its most ambitious growth phase yet.