Nigeria: Ebonyi State Governor Francis Nwifuru has presented a proposed US$604m budget for 2026, including plans to construct a US$102m state-owned cement plant.
Nwifuru said most of the spending would target infrastructure and economic growth projects. He attributed the rise from previous annual budgets, averaging about US$60m, to expanded fiscal space following the removal of the federal fuel subsidy.
The cement plant, conceived as a successor to the defunct NIGERCEM, will be financed through a US$102m self-repaying loan. “We agreed in council that this project will borrow money to fund itself from beginning to end. And this project will generate the same money to repay the loan,” Nwifuru said.
Geological assessments are currently underway to determine the most viable location with adequate limestone reserves.
