Senate Majority Leader Aaron Cheruiyot has launched a fierce attack on Kiharu MP Ndindi Nyoro over his criticism of Nigerian billionaire Aliko Dangote’s investment in Kenya Pipeline Company (KPC).
Cheruiyot accused Nyoro of misrepresenting the transaction involving the sale of KPC shares, arguing that the deal had generated profits for public institutions rather than the losses alleged by the legislator.
The Kericho Senator made the remarks on Thursday, October 22, 2026, following Nyoro’s claims that President William Ruto and Dangote were working towards securing majority control of the strategic petroleum company.
In a statement shared on social media, Cheruiyot questioned why Nyoro was opposing the transaction after previously criticising the valuation of KPC shares.
Cheruiyot Launches Attack on Nyoro
Cheruiyot used strong language to dismiss Nyoro’s criticism, describing him as a “Mutura economist” and questioning his understanding of Dangote’s business dealings.
“Mutura economist @NdindiNyoro must appreciate that Dangote is not your average extortion racket customer,” Cheruiyot wrote.
The senator portrayed Dangote as an experienced businessman who had navigated complex commercial environments and challenged Nyoro’s interpretation of the KPC transaction.
However, Cheruiyot did not provide evidence in his statement establishing that Nyoro had attempted to extort money from Dangote. The accusation was part of the senator’s political attack on the MP.
KSh1.6 Billion Profit at the Centre of the Dispute
Cheruiyot argued that the transaction had benefited public institutions, claiming they had made approximately KSh1.6 billion in profit within six months.
He questioned Nyoro’s position on the share sale, pointing to the difference between the KSh9 initial public offering price and the reported sale price of KSh9.36 per share.
“If the shares were overpriced at 9.0, what’s the fuss with Aliko buying them at 9.36?” Cheruiyot asked.
However, the difference between the two prices alone does not establish the final profit made by the selling institutions. Their original purchase costs, dividends, brokerage fees and other transaction expenses would need to be considered.
Nyoro Questions Ruto’s KPC Plans
Nyoro has accused President Ruto of working with Dangote-linked interests to obtain majority ownership of KPC.
The MP claimed that public institutions, including pension funds, had purchased shares during the company’s initial public offering before selling a substantial portion to a private investor.
He further alleged that the recent transaction was part of a wider plan that could eventually give private investors between 51 and 75 per cent ownership of KPC.
Nyoro also raised concerns about a possible future rights issue, arguing that the government could lose influence if it failed to purchase additional shares.
These claims have not been independently established, and the disclosed transaction details do not by themselves prove the alleged takeover plan or the President’s purported personal interests.
Dangote Confirms KSh42.5 Billion Investment
The dispute intensified after Dangote confirmed that his business interests had acquired approximately 24.76 per cent of KPC in a transaction valued at about KSh42.5 billion.
The deal involved approximately 4.5 billion shares sold at around KSh9.02 each, according to published reports.
The investment has attracted scrutiny because public institutions had been among the major investors in KPC during its initial public offering earlier in 2026.
President Ruto has defended the sale as evidence of growing investor confidence in Kenya’s capital markets.
Nyoro, however, continues to demand disclosure of the purchasing company’s ultimate ownership and the agreements surrounding the planned Dangote East Africa Petroleum Refinery in Lamu.
The exchange between Cheruiyot and Nyoro has shifted the spotlight to the financial returns from the KPC transaction, the protection of pensioners’ funds and the future ownership of Kenya’s strategic petroleum infrastructure.