Governor Francis Nwifuru of Ebonyi State, on Monday, proposed a ₦884 billion draft estimate for the state’s income and expenditure for the 2026 fiscal year.
The 2026 budget, tagged “Budget of Actualization and Hope,” is the highest since the state’s creation in 1996.
Nearly 84 percent of the allocation is dedicated to infrastructure and economic development.
Also included in the budget is the state-owned cement factory project, estimated at ₦150 billion, which is expected to be funded through a loan.
Presenting the proposal during a civic engagement session at the Christian Ecumenical Centre, Abakaliki, Governor Nwifuru described the budget as the most comprehensive since the state came into existence.
According to him, the unprecedented increase, from previous annual budgets that averaged about ₦89 billion to the new ₦884 billion proposal, is largely attributable to the removal of fuel subsidy by President Bola Ahmed Tinubu.
He said, “What was impossible in previous administrations is now possible, and this is because of the removal of subsidy.
This is what caused the jump from ₦89 billion in 2025 to over ₦800 billion. That is the evidence and benefit of the removal of fuel subsidy, and this removal has strengthened the capacity of states to drive development.”
The proposed cement project is expected to be financed through a ₦150 billion loan, which would be the first loan obtained by the state under Governor Nwifuru’s administration.
He explained, “We agreed in council that this project will borrow money to fund itself from beginning to end, and the project will generate enough revenue to repay the loan.”
The News Chronicle gathered that geological evaluations are ongoing to determine the most viable site with adequate limestone deposits for the project.
