Kiharu MP and former Budget and Appropriations Committee Chairperson Ndindi Nyoro has questioned Treasury Principal Secretary Chris Kiptoo over the government’s financial strategy, the effectiveness of recent tax measures, and the prudence of key financial policies.

Speaking on June 3, 2025, at a hotel in Nairobi, Nyoro took issue with the National Treasury’s revenue projections and the impact of new taxes introduced in 2023, questioning the PS over performance, housing levy and securitisation.   

“Up to the time you presented, April 8, revenues have gone up by only 3.5 per cent. Inflation stands at 4.1 per cent. So, in real terms, our revenues have actually gone down if you discount inflation from nominal growth. Are the taxes introduced in 2023 really worth it?” Nyoro asked.

He argued that despite the heated national debate surrounding the controversial tax hikes, the figures presented by the Treasury did not reflect any significant returns. The taxes, he suggested, may have done more economic harm than good.

Nyoro further sought clarification on the basis of the Treasury’s revenue target of Ksh3.3 trillion, questioning the economic assumptions behind the estimates.

The Kiharu MP also questioned the housing levy, a cornerstone of the government’s Affordable Housing Programme, arguing that the construction sector shrank last year despite the levy’s deductions.

In Nyoro’s argument, another flashpoint was the Treasury’s plan to securitise government revenue. He expressed deep reservations about the approach, seeking transparency on the details of the planned borrowing.

He also posed a hypothetical scenario questioning the implications if future officials decided to withdraw or alter the securitised agreements.

Citing recent media reports, Nyoro raised concerns over the alleged use of workers’ pension funds, including those from NHIF and CPF, for infrastructure projects that are already showing losses.

“Why are we putting Kenyan workers in such a hotspot?” he asked, “Is it prudent that NSSF invests pension money in projects that, by your own data, are not commercially viable?”

Transparency

He mentioned the Nairobi Expressway as an example, which reportedly made a loss last year despite significant investment, questioning whether such models justify future use of pension funds.

Nyoro also took issue with plans to privatise strategic state assets, specifically singling out Safaricom.

He urged the Treasury to provide clear timelines and valuation strategies to ensure transparency and fairness in the privatisation process.

He made a strong case for more inclusive budgeting, criticising the Treasury for excluding critical social components in its proposals. He demanded a memorandum from the Treasury to include Ksh6 billion for national examinations and Ksh3.8 billion for the confirmation of 8,571 UHC healthcare workers.

“Also include the amount for village elders. For our village elders to be paid around 8,000 a month, you just require less than Ksh10 billion, which is money you can afford as a national treasury to write a memorandum to us,” he demanded.