Ebonyi State Governor, Rt. Hon. Francis Nwifuru, has announced plans to borrow ₦150 billion to establish a state-owned cement factory — a strategic economic move widely welcomed as it will create more job opportunities for the youths of Ebonyi State.

The governor shared this exciting news during the presentation of the 2026 Appropriation Bill at the Christian Ecumenical Centre in Abakaliki. He described the loan as a strategic investment that aims to bring long-term economic benefits, with plans to repay it through the revenue generated by the cement industry.

Nwifuru stressed that this decision came after careful discussions within the State Executive Council, which unanimously agreed that the project needs full funding from start to finish, ensuring it won’t become a financial strain on the state.

He also pointed out that this year’s budget embodies his administration’s “people’s charter of needs,” focusing on projects that will have a direct positive impact on the lives of citizens.

“What we’re presenting today goes beyond mere numbers; it reflects the collective hopes of the wonderful people of Ebonyi State,” he said, urging stakeholders to lend their support and cooperation.

In addition, he revealed that the 2026 budget is the largest in the state’s history, underscoring the significant responsibility that both the executive and legislative branches have to deliver tangible results. He praised the members of the State Executive Council for their hard work in crafting this proposal.

Moreover, he reiterated the government’s dedication to ongoing landmark projects, including the state’s remarkable double-deck flyover and tunnel—the first of its kind in the South-East. He announced that completed projects will be inaugurated daily from May 1st to May 27th, 2026, with President Bola Ahmed Tinubu set to commission at least ten of them.