Democratic Party leader Justin Muturi has called for greater transparency over the terms of Nigerian businessman Aliko Dangote’s investment in Kenya, saying Kenyans have a right to understand the agreements surrounding major foreign investments.
Muturi said the opposition was not opposed to either local or foreign investors, but insisted that the government should disclose the nature and terms of deals involving strategic investments.
“We (Opposition) are not opposed to local or foreign investors; in fact, we welcome all investors who are willing to invest in Kenya,” Muturi said on Saturday.
He said the debate should focus on transparency and accountability rather than opposition to foreign capital.
“What Kenyans are asking for is transparency,” he said.
Muturi questioned the terms under which Dangote was being allowed to invest in the country, arguing that Kenyans should be provided with sufficient information about agreements involving the businessman.
“We need to know what has been given to Dangote and on what terms, because he is investing in our country and Kenyans have a right to understand the nature of that investment,” he said.
His remarks come amid growing attention on Dangote’s proposed investments in Kenya, including plans linked to the development of a major oil refinery at the Coast, the Dangote East Africa Refinery.
The investment has attracted interest because of its potential implications for Kenya’s petroleum sector, energy security, employment and regional trade.
Muturi’s call places emphasis on the disclosure of agreements between the government and private investors, particularly where public resources, incentives or strategic national assets may be involved.
The Democratic Party leader said welcoming investors should not mean abandoning public scrutiny of investment agreements.
Muturi maintained that Kenyans should be adequately informed about major investment arrangements.
Nigerian billionaire Aliko Dangote and President William Ruto officially launched construction of the Dangote East Africa Petroleum Refinery in Lamu, marking the start of a Sh2.2 trillion ($16 billion) project expected to transform Kenya’s petroleum and industrial sectors.
The groundbreaking ceremony was held on September 30 at Mokowe in Lamu County, bringing together several African leaders and senior government officials.
The refinery is planned to have a processing capacity of 700,000 barrels of crude oil per day, making it one of the largest planned refining facilities in Africa.
The wider project will form part of an integrated petrochemical complex featuring a 1,000-megawatt power plant as well as facilities for manufacturing plastics, fertilisers and chemicals.
The project is expected to create up to 60,000 direct and indirect jobs.