…points to massive infrastructure push
Ebonyi State Governor Francis Nwifuru has proposed a budget of N884 billion for 2026, with a plan to build a state-owned cement factory valued at N150 billion.
He presented the proposal in Abakaliki, noting that most of the spending will go towards economic and infrastructure projects.
Presenting the proposal during a civic engagement session at the Christian Ecumenical Centre, Abakaliki, Governor Nwifuru described the budget as the most comprehensive in the history of the state, noting that it was developed after a rigorous assessment of sectoral needs.
According to him, the unprecedented increase from the previous annual budgets, which averaged about N89 billion, to the new proposal of N884 billion was made possible by greater fiscal space following the removal of fuel subsidy at the federal level.
“What was impossible is now possible. Without the provision of subsidies, our budget would not go from N89 billion to over N800 billion. That is the test and benefit of the removal of fuel subsidy,” Nwifuru told citizens, praising President Bola Tinubu for reforms that have strengthened the ability of states to drive transformative development.
A highlight of the budget is the planned construction of a new state cement factory, conceived as a successor to the defunct NIGERCEM.
The project, which is expected to be financed through a loan of N150 billion, will be entirely self-financed, the governor said.
“We agreed in council that this project will borrow money to finance itself from start to finish. And this project will generate the same money to repay the loan,” he said, adding that geological assessments were being carried out to identify the most viable site with suitable limestone deposits.
Governor Nwifuru also announced the introduction of a new tax regime effective January 1, 2026.
The policy, he said, is structured to make taxes more equitable by ensuring that rich people currently evading taxes contribute their fair share, while low-income people, particularly those earning less than N20,000 a year, are exempt.
“The poor, who pay taxes today, will stop paying to allow their income to 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 meters but redesigned to over 840 meters to meet long-term infrastructure needs.
“We do it because we want our enemies to cry when we complete these projects,” he joked, insisting that critics who prematurely dismissed his infrastructural agenda would be proven wrong.
The governor further revealed that Ebonyi will conduct a 27-day commissioning exercise from May 1 to 27, 2026. During the period, President Tinubu is expected to visit the state at least four times to inaugurate no less than ten major projects, an event which he said will combine governance achievements with emerging political activities ahead of the next electoral cycle.
Nwifuru reaffirmed his administration’s determination to fully implement the 2026 budget, emphasizing that all citizens will feel the impact of development initiatives before the end of his term.
“With your support and prayers, we will implement this budget 100% in infrastructure and human capital development. By the time we hand over power, everyone here will have something to show as part of the legacy of this government,” he said.
He urged residents to remain united and support the development trajectory of the state as Ebonyi embarks on what he described as its most ambitious growth phase yet.
READ ALSO TOP STORIES OF Newslodge