Ndindi Nyoro demands disclosure of Dangote Lamu Oil Refinery shareholders

Ndindi Nyoro, leader of Kenya's People's Party (PPK), has called for the public disclosure of shareholders behind the recently launched Dangote East Africa Refinery in Lamu. The $16 billion project, set to process 700,000 barrels of crude oil per day, has sparked questions about its ownership. Nyoro argued that Kenyans deserve to know the individuals and entities holding shares in the Kenyan company behind the refinery.

The Dangote East Africa Refinery, launched in Lamu on Wednesday, differs from the existing Dangote Refinery in Nigeria. Nyoro highlighted this distinction, emphasizing that the Kenyan refinery is known as Dangote East Africa Refinery.

Nyoro accused President William Ruto's administration of needing to provide answers regarding previous government programs, such as the Social Health Insurance Fund, affordable housing, and government-to-government petroleum arrangements. However, Nyoro did not provide any documentary evidence to support these accusations.

Treasury Cabinet Secretary John Mbadi countered Nyoro's claims, stating that President Ruto does not personally own shares in the refinery. He explained that the regional ownership arrangement allows East African governments to hold a combined 30% stake in the project. President Ruto also affirmed that Kenya will have a stake in the refinery, and shares are expected to be made available to ordinary investors through the Nairobi Securities Exchange.

Nyoro insisted that the disclosure should extend beyond government statements to include the actual list of shareholders. His call for transparency coincides with ongoing scrutiny of the project's ownership structure, land arrangements, and Kenya's financial commitments. When completed, the refinery is expected to supply petroleum products across East Africa.