Ndindi Nyoro: Talanta Stadium, Nairobi-Nakuru road not part of Ksh12T debt
By Kenneth Mwenda, September 6, 2025Kiharu MP Ndindi Nyoro has raised fresh concerns about Kenya’s rising debt, warning that major development projects are being funded outside the country’s official borrowing figures.
In a video shared on his X account on Saturday, September 6, 2025, Nyoro said the country’s debt has now crossed Ksh12.1 trillion, yet flagship projects are not even part of this total.
“In terms of development, what you can see, for example, the expansion of this Kenol–Marua road, is not even part of the 12 trillion borrowed. It’s another loan on the side called Fuel Levy securitisation,” he said.
“Everything else you see in Kenya in terms of development, like even the Talanta Stadium, is also not part of the 12 trillion debt. That is another debt, securitisation of the Sports Fund where we borrowed Ksh46 billion and will be paying Ksh100 billion in interest rate alone after 15 years. Even the expansion of Nairobi–Nakuru Road is also not part of the 12 trillion we have borrowed. That is NSSF money being used as a PPP to build that road.”
Three years, triple Kibaki
Nyoro compared the current borrowing with that of previous administrations, noting that in just three years, Kenya has borrowed Ksh3.5 trillion. In contrast, former President Mwai Kibaki borrowed Ksh1.2 trillion across his 10 years in office. He said the pace of borrowing has now reached Ksh100 billion every month, translating to Ksh3.4 billion daily.
The MP warned that even as Kenyans see visible projects, hidden borrowing through securitisation schemes is adding a new layer of obligations for future generations. He cautioned that the country risks falling into a debt trap similar to Zambia, Ghana, Ethiopia, and Sri Lanka if fiscal recklessness continues.
With elections approaching, Nyoro criticised what he described as fiscal expansion designed to impress voters with rushed development. He argued that such spending patterns fuel unnecessary borrowing without delivering sustainable economic benefits.
“Where is the Ksh1.2 trillion we are borrowing every year going?” he asked.
Nyoro urged the executive to show restraint and focus on long-term stability rather than short-term political goals.
“Kenya is a strong country with internal resources. This issue of profligate borrowing must come to an end if we really care about this country,” he said.
However, the president has earlier stated that his administration is determined to push Kenya onto the path of fast-growing economies, even drawing comparisons with Singapore.