Ndindi Nyoro demands full disclosure of Dangote Lamu refinery shareholders

Opposition leaders in Kenya are increasing pressure on the government over the 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. Nyoro argues that the deal is a matter of public interest and that Kenyans have a right to scrutinise its details. He made these remarks on October 1, 2026.

Nyoro has accused President William Ruto's administration of underhand dealings in the project. He questions how the government intends to finance its stake through the National Infrastructure Fund. The government plans to take a 10 per cent equity stake in the proposed Lamu oil refinery. President William Ruto stated that the investment will be financed largely through public assets, including land, and the National Infrastructure Fund.

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. Nyoro stated that Kenyans want to know the list of shareholders of Dangote East Africa Petroleum.

The proposed Lamu oil refinery project is valued at Ksh.2.2 trillion. 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 hit a legal hurdle.

Nyoro also demands full disclosure on land compensation, claiming that Dangote has been allocated thousands of acres of land whose compensation was paid by taxpayers. He stated that Dangote was allocated 7,000 acres of land, and Kenyans are asking what they are getting in return. Nyoro wants all agreements that the government has committed to in the project to be made public.

President William Ruto earlier stated that the government will deploy its assets, including land, and use the National Infrastructure Fund to invest in the refinery. The government has announced its intention to take a stake in the project, but details of the financing structure remain unclear. The National Infrastructure Fund's board has not publicly disclosed the details.

Nyoro's demands come as the project faces scrutiny over its financing and transparency. The opposition leader stated that Kenyans have a right to know the details of the deal. The government's handling of the project has raised concerns among Kenyans, who are demanding more transparency.

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