Ebonyi to spend N150bn on new cement factory
By Amarachi Ehia, Abakaliki
Governor Francis Nwifuru of Ebonyi state Monday revealed plans to borrow N150 billion to build a new cement factory in the state.
This was as Nwifuru disclosed that the new factory will gulb about N150billion to establish. Which would be led the state to borrowing.
Establishment of a new cement factory followed government attempt to revitalize Nigerian Cement Factory at Nkalagu, Ebonyi state which is largely owed by Mr. Cletus Ibeto but failed.
Governor Nwifuru disclosed the establishment of new factory during a civic engagement on the 2026 budget of the state in Abakaliki.
Nwifuru however noted that 2026 proposed budget tagged budget of “Actualization and Hope” would be about N884 billion, that 84 percent of amount voted for the year would be dedicated to infrastructure and economic development.
According to him, the unprecedented rise from previous annual budgets averaging about ₦89 billion to the new ₦884 billion
“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,” Nwifuru told citizens, commending President Bola Tinubu for reforms that have strengthened the capacity of states to drive transformative development.
“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,” he stated, adding that geological evaluations were 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.
The policy, he said, is 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.
Reassuring citizens of his administration’s commitment to completing all ongoing projects, Nwifuru explained 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.
“We do that because we want our enemies to cry when we complete these projects,” he quipped, insisting that critics who prematurely dismissed his infrastructural agenda would be proven wrong.
The governor further revealed that Ebonyi will hold a 27-day commissioning exercise from May 1 to May 27, 2026. During the period, President Tinubu is expected to visit the state at least four times to inaugurate no fewer than ten major projects, an event he said will blend governance achievements with emerging political activities ahead of the next electoral cycle.
Nwifuru reaffirmed his administration’s resolve to fully implement the 2026 budget, emphasizing that every citizen will feel the impact of the development initiatives before the end of his tenure.
“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.
