Ndindi Nyoro Links KPC Share Sale to Secret Ruto Interests in Dangote Refinery

Kiharu Member of Parliament Ndindi Nyoro has ignited a political firestorm across the country after releasing an explosive statement linking the recent sale of Kenya Pipeline Company shares to secretive arrangements surrounding the Dangote oil refinery project in Lamu.

Following his recent suspension from Parliament for questioning the initial public offering, Nyoro publicly alleged that key public pension institutions—including the National Social Security Fund, the Public Service Superannuation Scheme, the County Workers Pension Fund, and the Unclaimed Financial Assets Authority—were coerced into buying KPC shares before being directed to sell them at a loss to a private investor closely linked to State House.

According to the outspoken lawmaker, the state-backed financial maneuvers resulted in the sale of approximately 4.5 billion shares worth Sh42 billion, effectively leaving public retirement schemes with severe financial losses after accounting for brokerage commissions and lost time value of money.

Nyoro further charged that the transactions were tied directly to conditions governing the proposed Sh2.2 trillion Lamu refinery partnership between Kenya and Nigerian billionaire Aliko Dangote.

He alleged that the undisclosed agreement contains restrictive monopoly clauses that prohibit Kenya from importing cheaper refined petroleum products from international markets if they compete with the refinery’s output.

Directly challenging President William Ruto to make the refinery’s shareholder registry public, Nyoro claimed that minority ownership stakes in the project are held by politically connected proxies and investment entities tied directly to the Head of State.

The former National Assembly Budget Committee Chair warned that using nominee accounts to shield the identity of ultimate beneficial owners undermines public accountability, demanding an immediate parliamentary and regulatory inquiry into how public pension funds were managed during the transaction.

As the opposition seizes on the scandal, Nyoro’s high-octane claims threaten to open a dangerous economic and political front for the administration ahead of the 2027 General Election.

https://x.com/PeopleDailyKe/status/2112820943877795879?s=20

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