Ruto Draws a Red Line as Ndindi Nyoro’s KPC Shares Battle With KPLC Claims Intensifies-Details

Ruto Warns Nyoro Against Misleading Kenyans Over KPC Shares

President William Ruto has warned People’s Party of Kenya (PPK) leader Ndindi Nyoro against what he described as attempts to mislead Kenyans over the sale of Kenya Pipeline Company (KPC) shares. The President said his government would not allow brokers to benefit from the sale of public assets at low prices.

Speaking in Kitui County on Sunday, October 25, 2026, Ruto defended the sale of KPC shares to Nigerian billionaire Aliko Dangote, accusing critics of opposing the transaction despite previously claiming that the shares were overpriced.

Ruto said some politicians had argued that the shares should have been sold at Sh5 instead of the initial offer price of Sh9. He claimed that such a move would have allowed brokers to buy shares cheaply and later sell them at higher prices.

The President compared the dispute to trading in Kenya Power and Lighting Company (KPLC) shares, claiming that some investors had bought shares at Sh2 and were now selling them at Sh19. He insisted that his administration would protect Kenyans from similar practices involving KPC.

Dangote acquired a 24.76 per cent stake in KPC in a transaction valued at approximately Sh42.5 billion. Ruto described the investment as a sign of confidence in Kenya’s economy and predicted that the company’s share value could double or triple over the next four to five years.

However, Nyoro has raised concerns about the transaction, alleging that it could be part of a plan to give Dangote majority control of KPC. He claimed that the investor could eventually acquire between 51 and 75 per cent of the company through further share purchases.

Nyoro has also questioned the role of public institutions that bought KPC shares before selling a large number of them to a private investor. He argued that transaction costs may have reduced their returns and called for greater transparency.

The government has defended the sale as a commercial transaction. Ruto maintained that his administration would ensure Kenyans receive fair value for public assets.

The dispute has intensified political debate over the sale, ownership and future management of KPC.

JJ—news feedback-opera-news-app@opera.com