Nyoro gives Ruto 14 days to disclose Dangote refinery deal

Jukwaa

📻 Breaking It Down

Nyoro said Kenyans were entitled to know the terms of the investment, including the identities of the shareholders behind the Kenyan company undertaking the project and the commitments made by the government.

“I want to tell William Ruto it is not a privilege Kenyans are asking for. You have to produce the register of Dangote Refinery shareholders, and you also have to give us the investment agreement,” Nyoro said.

“I am giving you 14 days, William Ruto. If you do not release the Dangote agreement, I will release it myself so that Kenyans can see it.”

📌 What You Need to Know

Nyoro’s demand comes days after President Ruto and Dangote broke ground for the proposed Dangote East Africa Petroleum Refinery and Petrochemicals project in Lamu on September 30.

The refinery is planned to process up to 700,000 barrels of crude oil per day and is being presented by the government as a major industrial investment expected to strengthen energy security, create jobs and establish Lamu as a regional petroleum and petrochemical hub.

But the project has quickly become the subject of intense political, legal and community scrutiny.

Nyoro has questioned the ownership structure of Dangote East Africa Refinery, arguing that the company established in Kenya for the project should not simply be equated with Dangote’s existing refinery in Nigeria.

He has also raised questions over how much land Kenya is contributing, its value and whether the land and other public assets will translate into an equity stake for the country.

President Ruto has said Kenya will participate in the project through the National Infrastructure Fund, while Treasury Cabinet Secretary John Mbadi has said the government has been allocated a 10 per cent stake and could acquire a larger share if other East African countries do not take up their allocations.

📰 Source: Capital FM Kenya

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