Ndindi Nyoro demands full disclosure of Dangote Lamu refinery shareholders

Opposition leaders are stepping up pressure on the government over what they describe as a lack of transparency surrounding the Lamu refinery deal with Nigerian businessman Aliko Dangote.

People's Party of Kenya (PPK) leader Ndindi Nyoro is demanding full disclosure of the shareholding structure of the proposed Dangote oil refinery, arguing that the deal is a matter of public interest and that Kenyans have a right to scrutinise its details.

Nyoro has accused President William Ruto's administration of underhand dealings in the project, as questions mount over how the government intends to finance its stake through the National Infrastructure Fund.

"Na wewe William Ruto, usikasirike tukikuuliza maswali kwa sababu lazima ujibu maswali ya Wakenya, na ukiona huyo jamaa anakasirika mjue kuna kitu yake hapo,” Nyoro stated.

Nyoro is demanding the publication of the full list of shareholders, including the division of shares and the government's stake, as well as any shares allocated to members of the public.

He alleges that the ownership structure could conceal interests linked to individuals in government.

"Wakenya wanataka list ya shareholders wa Dangote East Africa Petroleum. Wakenya wakiona shareholders wanajiita watu wa pale UAE ama Dubai, sisi tunajua huyo mtu sio wa Dubai, tunajua ni mtu ako hapa Kenya anaitwa William Ruto na anapita na mali ya Wakenya,” he said.

The government plans to take a 10 per cent equity stake in the proposed Lamu oil refinery, with President William Ruto saying the investment will be financed largely through public assets, including land, and the National Infrastructure Fund.

"We do not want anything for free. We are going to deploy our assets, whether it is land and all the other assets, and we are going to use the National Infrastructure Fund to invest in this refinery,” Ruto said earlier.

But while the government has announced its intention to take a stake in the Ksh.2.2 trillion project, questions remain over how the financing will actually be structured and executed.

The board overseeing the National Infrastructure Fund is yet to publicly set out the details. Efforts to inject more than Ksh.200 billion into the fund through the planned sale of government-held Safaricom shares have also hit a legal hurdle after the courts halted the transaction.

Nyoro is also demanding full disclosure on land compensation, claiming that Dangote has been allocated thousands of acres of land whose compensation was paid by taxpayers.

"Dangote amepewa shamba ya 7,000 acres ambayo imelipiwa na Wakenya kupitia kodi. Wakenya wanauliza, what are we getting in return of the 7,000 acres where taxpayers' money was used to compensate for the land? Tunataka agreements zote zile serikali imecommit Wakenya ya kununua bidhaa za Dangote refineries na ile bei ambayo wameeka pale..." Nyoro stated.