Nyoro: From Ruto's Budget sidekick to fiscal policy critic

Kiharu MP Ndidi Nyoro addresses the Press in his office, Nairobi, on March 18, 2025. [Collins Oduor, Standard]

Kiharu MP Ndindi Nyoro, once a close ally of President William Ruto, has recently made a name for himself by publicly criticising the administration over alleged fiscal mismanagement and budgetary irregularities.

Nyoro, who lost the position of Budget and Appropriations Committee Chairperson to ODM's Samuel Atandi in March, has focused his recent efforts on scrutinising government borrowing practices and the suspected diversion of funds initially earmarked for other purposes, particularly to finance infrastructure projects.

The second-term MP has accused the Kenya Kwanza administration of illegally borrowing money from the National Social Security Fund (NSSF).

"We can play around with everything else, but we cannot afford to play around with the money contributed by Kenyan workers. We are forcing NSSF to build roads in Kenya. NSSF's role is to ensure the workers' money is optimally invested," Nyoro said.

The MP claimed that the government had coerced NSSF into entering public-private partnerships after the private sector rejected the investment opportunities, deeming them financially unviable.

"The government is now forcing NSSF to invest in large-scale projects, just so some people can get their cut, leaving Kenyan workers with nothing," Nyoro added.

In the clearest indication yet that the MP is warming up to a duel with the government, Nyoro also accused the National Treasury of borrowing Sh175 billion through securitisation of the fuel levy, with taxpayers set to repay the loan to the tune of Sh300 billion.

"Even the International Monetary Fund (IMF) is concerned about our financial mismanagement. We are heading down the same path as Zambia," Nyoro warned.

He added: "We are borrowing money without disclosing it in government records or obtaining approval from the National Assembly. I want to put government officials on notice-soon, the law will catch up with you. The country is heading to the dogs."

The Kiharu MP called on the public to resist what he termed the government's misuse of NSSF funds.

Nyoro's criticism comes at a time when the NSSF is under scrutiny for its involvement in Treasury bonds, which were flagged by the Auditor General's report, resulting in billions of shillings in losses due to bonds being sold below their par value.

According to Auditor General Nancy Gathungu's 2023/24 NSSF audit report, the sale of bonds purchased at a nominal value of Sh5.1 billion resulted in a loss of Sh789 million, with the bonds being sold for only Sh4.3 billion.

"This is contrary to the Fund's Investment Policy Statement, 2020, which mandates the Board to invest NSSF assets in a responsible and prudent manner. Some bonds recorded significant capital losses with minimal yields, and management failed to compare these losses with the yield rates for each bond," Gathungu stated in her report.

Political analysts suggest that Nyoro is positioning himself as a key player in Kenyan politics, presenting himself as a third force, distinct from both President Ruto's camp and former Deputy President Rigathi Gachagua's faction.

"He appears determined to shift the political narrative, which has been dominated by two major camps," political commentator Mwangi Githinji observed.

Dr. Kamau Wairuri, a policy analyst, said Nyoro's narrative revolves around the issue of national debt, effectively positioning himself in opposition to the government's fiscal policies.

"Nyoro's focus on tangible issues is a promising shift in Kenyan politics," Wairuri remarked.