Editor's Review
Kiharu MP Ndindi Nyoro has hit back at President William Ruto's aide, Farouk Kibet, in a row over the sale of Kenya Pipeline Company (KPC) shares, as the two traded accusations of corruption and brokering.
Nyoro is on record alleging that Ruto is pushing public institutions to sell KPC shares at a loss to a private investor linked to Aliko Dangote’s East Africa refinery, with pension funds taking the hit.
He responded after Kibet warned him against spreading propaganda that sabotages the government.
"We are talking about Kenya Pipeline Company (KPC PLC), where his boss instructed NSSF, PSSF, PCF, and others to purport to invest pensioners' money and hold it for him,” Nyoro said.
He alleges the aim is to secure 51% to 75% control through forced sales and a rights issue, which would dilute government and National Social Security Fund (NSSF) stakes below 20%.
Read More
Nigerian tycoon Aliko Dangote has since acquired a 24.76% stake in KPC for about KSh42.5 billion (about $327 million) from government institutions, including the NSSF and the Unclaimed Financial Assets Authority.
Kibet answered Nyoro on Friday, October 23, at an economic empowerment programme in Vihiga County.
He accused the MP of inciting Kenyans against the government and of failing to use the opportunities he was given.
"Don’t lecture us on matters that supposedly benefit Kenyans; tell us instead about the corrupt dealings you are involved in," Kibet said.
Kibet accused Nyoro of involvement in corruption while chairing the National Assembly budget committee and called on the government to investigate him. He did not give evidence.
He also urged Nyoro to address the situation at Kenya Power, where he is believed to hold massive shares.
Nyoro’s claims have drawn official attention before. On October 8, he was suspended from Parliament for five sitting days after refusing to apologise for saying public institutions were pressured to invest in the KPC initial public offering.
Business Daily reported earlier that the State had pressured cash-rich parastatals to buy into the IPO, but I found no evidence for his claim of a forced sale at a loss.
Nyoro replied in a strongly worded statement, saying Kibet was missing the point.
“Mr Kibet, stick to your power brokerage nonsense. We have better things to handle as a country,” he said.
Nyoro also linked the KPC deal to Dangote’s refinery plans, Turkana oil and government-to-government fuel deals, and accused a media house linked to Kibet of trying to "sanitise" the transaction.
Kibet, for his part, accused Nyoro of favouring one area with budget funds while leaving other regions without basic roads.
“We made him the budget committee chairman, but he clearly has no clue what he’s doing. He funneled funds into only one area, leaving other regions without even basic roads,” he said.
