Kiharu Member of Parliament, Ndindi Nyoro, has issued a stinging rebuke against the Kenyan government’s move to tap into the National Social Security Fund (NSSF) for infrastructure development. He described the decision as illegal, fiscally reckless and a scandal in the making.
Speaking at a public development forum in his constituency, the outspoken MP and former Chairperson of the Parliamentary Budget Committee warned that investing pensioners’ money in infrastructure is economically unsound. He states the sector offers minimal financial returns and threatens the country’s long-term financial stability.
“The NSSF kitty should be invested in projects with optimal returns, not infrastructure, which I consider a poor financial decision,” he said.
Nyoro suggested the government had exhausted traditional borrowing avenues and accused it of resorting to raiding pension savings to fund its development agenda.
“The administration lacks the initiative to revive the economy through sustainable means and opts for desperate measures with potentially grave implications,” he added.
He expressed concern over the growing trend of borrowing through securitisation, whereby the government borrows against future revenues, often without proper parliamentary oversight.
Nyoro cited an example in which the government allegedly borrowed Sh175 billion against the fuel levy expected over the next seven years. He warned this would cost taxpayers double in repayments, further deepening the country’s already precarious debt burden.
“Treasury officials involved in this scheme know they are violating the law and must halt this dangerous plan,” he cautioned.
By contrast, the Kiharu legislator strongly supported the National Government Constituency Development Fund (NG-CDF), calling for it to be entrenched in the Constitution. He argued that the fund has been instrumental in achieving equitable development across the country.
Nyoro dismissed calls to scrap the NG-CDF, attributing such sentiments to the government’s resource constraints. Instead, he urged the state to explore ways to increase national revenue to sustain essential programmes like NG-CDF.
“Much of what we have achieved in our constituencies, including bursaries and school infrastructure, has been through the NG-CDF. In Kiharu, we have built schools from scratch and reduced tuition costs to Sh1, 000 per term,” he noted.
Nyoro concluded by urging the government to exercise fiscal prudence and leverage national assets to generate revenue rather than increasing the country’s debt.
As public anxiety grows over Kenya’s escalating national debt and questionable fiscal decisions, the MP’s remarks add fuel to an already heated debate on the sustainability and legality of the government’s current economic path.
