PS Omollo: New law to safeguard Kenya's resource wealth

Internal Security Principal Secretary Raymond Omollo. [File, Standard]

Internal Security Principal Secretary Raymond Omollo says the recently enacted Sovereign Wealth Fund Act will secure Kenya's natural resource wealth for current and future generations.

Speaking on Saturday during a Women Empowerment Forum in Gem, Siaya County, Omollo said the law creates a mechanism to manage revenue from natural resources, ensuring both current and future generations benefit from their exploitation.

"The President has now made this a reality. As a country, we must ensure that the wealth generated from our natural resources benefits our people today while also securing the future of generations to come," said Omollo.

Ruto assented to the Sovereign Wealth Fund Bill 2026 on Wednesday, July 8, at State House, Nairobi.

The Act establishes three components: the Stabilisation Fund, the Strategic and Infrastructure Fund and the Future Generations Fund.

The Future Generations Fund, also known as the Urithi Fund, will receive 30 per cent of petroleum and mineral revenue, while the Stabilisation Fund will cushion Kenyans from macroeconomic shocks, including pandemics and other natural phenomena.

Omollo noted that Kenya had for years extracted natural resources without a comprehensive system to preserve the proceeds.

He called for increased private investment to complement government efforts, saying returns from natural resources must translate into jobs, better livelihoods and improved public services for local communities.

The PS disclosed that the government has operationalised more than 1,800 administrative units nationwide since Ruto took office, including several new locations and sub-locations in Siaya County.

He said the expansion has eased access to national identity cards and civil registration services.

Omollo urged residents to take part in ongoing national and voter registration exercises, saying identification documents remain critical for citizens to access government services and participate in democratic processes.

He said Nyanza region has the potential to register close to 1 million new voters and encouraged eligible citizens aged 18 and above to sign up.

He praised women for their role in economic growth and community development, reaffirming government commitment to programmes supporting entrepreneurship, financial inclusion and household incomes, and called for unity and collective participation in development.