President William Ruto has defended Dangote’s 25 per cent stake in Kenya Pipeline Company.
President William Ruto says Dangote’s 25 per cent investment will benefit Kenyans, while Ndindi Nyoro demands disclosure of the share sale arrangements.
President William Ruto has defended the Dangote KPC stake amid public criticism, saying the investment will benefit Kenyans. Nigerian billionaire Aliko Dangote acquired a 25 per cent shareholding in the Kenya Pipeline Company.
Ruto dismissed criticism of the deal and warned against interference by extortionists and brokers seeking to disrupt investment opportunities. He maintained that private capital plays an important role in developing strategic sectors.
However, opposition leaders have questioned the sale arrangements and the involvement of state-linked institutions. They have also sought clarity on the government’s wider investment plans involving Dangote.
Questions over the Dangote KPC stake
Kiharu MP Ndindi Nyoro has alleged that public institutions received encouragement to buy shares during KPC’s initial public offering. A substantial block of shares later went to Dangote, he claimed.
Nyoro also questioned whether those institutions secured adequate returns and called for greater disclosure of the transaction arrangements.
His allegations remain unverified. The government, meanwhile, maintains that the investment will support Kenya’s economic interests.
The debate carries particular significance because KPC operates strategic petroleum transport and storage infrastructure. Its network serves both Kenya and regional markets.
Questions therefore extend beyond the commercial terms of the share sale. They also concern the returns secured by selling institutions and the implications for KPC’s governance.
Lamu refinery plans face scrutiny
Meanwhile, critics have extended their scrutiny to Dangote’s proposed petroleum refinery in Lamu. They want greater transparency over its ownership, financing and investment agreements.
The government presents the refinery as a strategic project that could create jobs and strengthen energy infrastructure. It also expects the development to reduce reliance on imported refined petroleum products.
Ruto has urged critics to assess Dangote’s investment against the benefits it is expected to deliver. However, questions over the KPC sale terms and institutional returns remain unresolved.
Together, the share transaction and refinery proposal have sharpened debate over Kenya’s privatisation programme. At issue is how the government balances attracting private investment with protecting public interests.
