Just In: Stakeholders Back Nwifuru’s Plan To Borrow ₦150bn for State-Owned Cement Factory

Stakeholders in Ebonyi State have commended Governor Francis Nwifuru for proposing a ₦150 billion loan to establish a state-owned cement factory, describing the move as a bold step toward fast-tracking industrialization and economic growth. The commendations follow the presentation of the state’s 2026 budget, estimated at an unprecedented ₦884.87 billion and tagged “Budget of Actualization and Hope.”

Governor Nwifuru, during his budget presentation at the Ebonyi State House of Assembly on Tuesday, disclosed that the loan would be channeled into the construction of a brand-new cement factory to boost the state’s industrial capacity and tap into its vast mineral resources. He noted that the initiative forms part of the administration’s long-term investment strategy.

Reacting to the development, the Commissioner for Information and State Orientation, Barr. Ikeuwa Omebeh, said the historic budget is a direct outcome of the post-subsidy economic reforms, improved transparency, and prudent use of public resources. He noted that although Ebonyi State has rarely considered borrowing, the proposed loan is a strategic investment expected to significantly transform the economy upon completion. Omebeh maintained that the 2026 budget is Community Demand Driven (CDD), aligning with global best practices and ensuring that citizens’ priorities are fully captured. He added that Ebonyians should expect accelerated industrialization, massive investment in primary and tertiary education, and strengthened healthcare systems aimed at reducing the japa syndrome. He further assured workers of improved welfare as the budget also targets agricultural expansion and comprehensive health reforms.

Speaking on communities previously affected by conflict, the Commissioner affirmed that the government has made provisions for reconstruction and rehabilitation efforts to restore livelihoods and infrastructure in war-torn areas.

Also lending his voice, the state Attorney General and Commissioner for Justice, Ben Uruchi Odoh, explained that the ongoing legal dispute involving Mr. Cletus Ibeto, the major shareholder in the Nigercem, Nkalagu, informed the government’s decision to embark on a fresh cement project. He stated that consultations are ongoing, and if successful, Ebonyi may eventually host two cement factories—an outcome supported by expert findings that the state possesses mineral deposits capable of sustaining large-scale cement production. Odoh hailed the governor for what he described as a transformational and visionary budget, noting that it reflects Governor Nwifuru’s commitment to actualizing the long-held aspirations of Ebonyi people.

The Chairman of the Christian Association of Nigeria (CAN), Ebonyi State chapter, Rev. Scamb Nwokolo, and the state Coordinator, Network of NGOs, CSOs and Faith Based Organizations, Comrade Okey Fortuner also applauded the governor for presenting what he termed an unprecedented and people-centered budget. He described the administration as one deeply rooted in the principles of the “People’s Charter of Needs,” ensuring that citizens’ welfare remains at the core of governance. Rev. Nwokolo urged residents to rally behind the administration, expressing confidence that Governor Nwifuru’s plans are divinely inspired and geared toward the overall advancement of the state.