Ebonyi Citizens’ Budget Input: Govt to borrow N150bn to fund new cement factory

Ebonyi State government is to borrow the sum of about One hundred and fifty billion naira to fund establishment of a brand new Cement factory for the State in the coming year.

 

Governor Francis Nwifuru disclosed this in his address during the event organised by the State Ministry of Budget and Planning for Citizens’ input into the 2026 proposed Ebonyi State budget.

 

The event was held Monday at the Ecumenical Centre, Abakaliki, the Ebonyi State capital.

 

The Governor explained that rather than continue to dwell in the intricacies involved in resuscitating the moribund NIGERCEM, the state government has considered it more rewarding to set up a brand new Cement factory to harness the rich natural raw material deposit the state is endowed with.

 

He noted that though the project is expected to be funded by a loan, it has been designed in such a manner as to also yield returns to pay back the loan without interference with core revenue of the state.

 

Nwifuru said: “This is the first time we put borrowing in our budget.

 

“We have put a project we will borrow money to fund while the project would generate money to pay back the loan.

 

“That project is a brand new Cement factory owned by the State government.

 

“We will borrow up to N150bn for a start.”

 

Governor Nwifuru noted that the proposed 2026 budget put at over N884 billion is the highest ever, stressing that it was conceived at confronting the many challenges facing the state which his People’s Charter of Needs agenda aims at tackling.

 

The proposal which he christened “Budget of Actualization and Hope” has Infrastructural Sector, according to him, take up about 84% of the total budget.

 

He reaffirmed his determination to lift the burden of taxation on low income earners and the poor people of the state through the instrumentality of the state’s new tax law which will take effect from January 1, 2026.

 

“I have found out that taxing very low income earners cannot grow the economy of the state, and that informed our new tax law.

 

“The rich who who were not paying tax will start paying while the poor who were paying tax will stop paying.

 

“This law will take effect from 1st January, 2026”.

 

While appreciating leaders and other stakeholders in the state for their sacrifices, prayers and various levels of support, he commended President Tinubu for what he described as his love for the subnational elements of the country.

 

He attributed the rise in the federal and state budgets to Tinubu’s removal of fuel subsidy.

 

The State Commissioner for Budget, Planning, Research and Monitoring, Mrs. Chinwe Okah, in her opening remark highlighted the performance of the 2025 budget which she put at over 50 percent as at third quarter assessment.

 

She stated that the 2026 proposal was painstakingly formulated to address certain sectoral gaps aimed at driving equal development in the state.

 

The State Attorney-General and Commissioner for Justice, Ben Uruchi Odo; Commissioners for Work, Stanley Mbam; Infrastructure, Ogbonnaya Obasi Abara; Commerce and Industry, Oguzor Offia-Nwali; Health, Moses Ekuma and Information, Chief Ikeuwa Omebe, among others who spoke, highlighted some key points in their Ministries and commended Governor Nwifuru for his political will and determination to develop the state beyond measure.

 

Those who spoke for the Non- state actors including the chairman of the Nigeria Union of Journalists, Comrade Samson Nwafor; Mrs Chinyere Njoku for the National Council of Women Societies; Chidi Igboji for the Nigerian Labour Congress and the State Chairman of the Christian Association of Nigeria (CAN), Rt. Rev. Scamb Chinedum Nwokolo, among others, commended the budget proposal, calling on all to support the government in actualizing its content.

 

The TUC Chairman, Nwigboji, who represented the NLC Chairman, Professor Ogugua Egwu, decried particularly, the sorry condition of the State College of Health, Ngbo in Ohaukwu LGA, appealing that adequate provisions be made for the institution, among others.

 

The CAN Chairman in his submission said the Church in the state was determined to see the overall success of the state government through their ceaseless prayers.

 

Meanwhile, the State Chairman of the All Progressives Congress, APC, Chief Stanley Okoro-Emegha, while applauding Governor Nwifuru for making the Party proud, said the Governor’s performance has converted all opposition elements in the State.

 

The event was well attended by all social groups in the state: royal fathers, Market women, artisans, civil and public servants, the clergy, youth and women groups, security agencies as well as the media.