Ndindi Nyoro Alleges Ruto’s Plan for KPC as Dangote Acquires Sh42.5 Billion Stake

Kiharu MP Ndindi Nyoro has raised fresh questions about the future ownership of Kenya Pipeline Company (KPC), alleging that President William Ruto’s ultimate plan is to secure majority control of the strategic state-linked company.

Nyoro made the claims on Wednesday, October 21, following confirmation by Nigerian billionaire Aliko Dangote that his business interests had acquired a 24.76 per cent stake in KPC for approximately KSh42.5 billion. The transaction involved about 4.5 billion shares previously held by public institutions.

In his statement, Nyoro argued that the transaction could be part of a wider ownership shift. He claimed the eventual objective was to secure between 51 and 75 per cent of the company’s shares, although he did not present publicly verified evidence establishing that this was the government’s plan.

The legislator also alleged that public institutions, including pension-related funds, were directed to purchase KPC shares during the company’s initial public offering before being instructed to sell some of their holdings to a private investor.

He questioned whether the transactions served the interests of pensioners and other public investors, arguing that brokerage fees and other costs could have affected the returns. However, the actual financial outcome for each institution would require a detailed assessment of its purchase price, sale proceeds and transaction expenses.

Nyoro further linked the share sale to the proposed Dangote East Africa Petroleum Refinery in Lamu. He alleged that agreements associated with the project could limit Kenya’s ability to import petroleum products from alternative suppliers, even if those supplies were cheaper.

These claims have not been independently established, and the available reporting does not confirm that the KPC share transaction was a condition of the refinery investment.

President Ruto has defended the sale of KPC shares to private investors, describing it as a step towards attracting investment and mobilising capital for strategic infrastructure. Dangote, meanwhile, confirmed the acquisition but the legal entity through which the stake was purchased had not been publicly identified in the available reports.

The dispute has renewed debate about transparency in public asset sales, the protection of pension savings and the future control of infrastructure central to Kenya’s fuel supply.

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