Exposed: Nyoro Alleges Ruto’s Plan to Take Majority Control of Kenya Pipeline

Kiharu MP Ndindi Nyoro has questioned the government’s handling of Kenya Pipeline Company (KPC) shares, claiming President William Ruto intends to secure majority control of the company.

In a social media statement on Wednesday, October 21, Nyoro argued that the recent sale of a 24.76% stake to interests associated with Nigerian billionaire Aliko Dangote could be the beginning of a wider change in the company’s ownership.

Dangote confirmed the acquisition of approximately a quarter of KPC for KSh42.5 billion. However, the specific legal entity that purchased the shares has not been identified in the available reports.

Nyoro questions the sale of public shares

The MP alleged that the government directed chief executives of public institutions and pension funds holding KPC shares to sell their stakes.

He questioned whether the institutions and their beneficiaries received fair value from the transactions. However, determining their actual returns would require information on purchase prices, dividends and other costs.

Nyoro also suggested that a future rights issue could change KPC’s ownership structure further.

He argued that the government’s decision on whether to participate, alongside Uganda’s position, could allow private investors to increase their stake significantly.

The MP outlined scenarios in which private ownership could reach 51% to 58%, or even approximately 75%. These figures remain part of his claims, and no verified arrangement confirming such an outcome has been established.

Nyoro urged the government to disclose the ownership structure of the investment vehicle associated with Dangote’s acquisition. He also raised questions about agreements relating to a proposed refinery in Lamu.

President Ruto has defended the sale of public shares as a way of attracting private capital. However, his public remarks do not independently confirm Nyoro’s allegation that the transactions are part of a plan to secure majority control of KPC.

https://peopledaily.digital/news/nyoro-rutos-end-plan-is-to-take-over-kenya-pipeline-majority-shares

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