Cabinet to okay Sh5tn National Infrastructure Fund tomorrow - Capital Business
Connect with us

Hi, what are you looking for?

President Ruto chairs second cabinet meeting. / STATE HOUSE

Government

Cabinet to okay Sh5tn National Infrastructure Fund tomorrow

NAIROBI, Kenya, Dec 14 – The Cabinet will meet tomorrow (Monday) to consider and approve the National Infrastructure Fund (NIF) and begin Kenya’s journey of lifting the economy from third world to first-world status, the President has announced.

The President explained that the fund will be the instrument used to mobilise Sh5 trillion required to fund the country’s transformation and take it to the next level.
He pointed out that the funds will be used in upgrading and expanding high-quality infrastructure, including the dualling of 2,500km of highways, tarmacking 28,000km of roads, expansion of Jomo Kenyatta International Airport, Mombasa and Lamu port, and the extension of the Standard Gauge Railway from Naivasha to the border with Uganda.
The Head of State made the remarks at the Africa Independent Pentecostal Church of Africa Karuri in Gatundu North Diocese, in Kiambu County on Sunday.
Additionally, the KSh5 trillion will also go into boosting food security by building 50 mega dams, 200 mini-dams and 1,000 micro-dams and thus put under irrigation 2.5 million acres, and generating an additional 10,000 megawatts of energy to power value-addition, agro-processing and industrialisation.
“We are late in moving this country from the third world to first-world status, and eradicating poverty and hunger,” said President Ruto.
At the same time, President Ruto told leaders to stop divisive politics and instead direct their energies in uniting the people.
The President regretted that some politicians are busy engaging in politics at the expense of discharging their responsibility of serving citizens.
 Ruto said elections come and go but service to the people is an ongoing endeavour.
“Let’s work together for the sake of development. We should discourage divisive politics and focus our energies on serving the people. Time for elections will come,” he said.
He castigated leaders claiming that the government’s extensive and ambitious agenda to make Kenya a first-world economy is impossible, saying such individuals have no plans for the country.
“You cannot expect someone who has been in government for 50 years, and has no tarmac road to his home, to believe that Kenya can move from the third world to first-world economic status?” the President said.
He laughed off opposition leaders claiming that the government had done nothing in development, wondering if they lived in Kenya.
The President pointed out that the government is building 240,000 affordable houses, 400 modern markets, and 177,000-bed hostels for university, TVET and Kenya Medical Training College students across the country.
In total, he pointed out, the government is investing KSh48 billion in these projects in Kiambu County.
Additionally, KSh4.1 billion has been set aside for the improvement of roads in the county.
Leaders present, led by National Assembly Majority Leader Kimani Ichung’wa, commended the President for the development initiatives in the Mt Kenya region, saying it would transform the lives of the people.
“Kenyans will elect leaders because of their development track record. No one decides for our people how to vote,” he said.
Cabinet Secretaries Alice Wahome (Lands) and William Kabogo (ICT), and Kiambu Governor Kimani Wamatangi were also present.
Visited 196 times, 1 visit(s) today

More on Capital Business

Kenya

A dispatch from State House says the Budget projects total revenues of Sh3.5 trillion against total expenditure of Sh4.7 trillion.

Kenya

Ruto said the NIF, alongside the proposed Sovereign Wealth Fund, would be key vehicles for mobilising private and institutional capital to support Kenya’s development...

Government

In a replying affidavit filed at the High Court in Nairobi, Treasury Cabinet Secretary John Mbadi said the entity approved by Cabinet in December...

Kenya

NAIROBI, Kenya, Dec 24 – The High Court has issued conservatory orders stopping the establishment and operationalisation of the proposed National Infrastructure Fund, pending...

Government

NAIROBI, Kenya, Dec 18 – President William Ruto has urged Members of Parliament to pass the National Infrastructure Fund Bill, saying it will unlock...

Kenya

NAIROBI, Kenya, Dec 15 – The issuance and management of smart driving licences will be transferred from the National Transport and Safety Authority (NTSA)...

Government

NAIROBI, Kenya, Nov 11 – The government has approved the dualing of the 23.5-kilometre Muthaiga–Kiambu–Ndumberi Road in a bid to ease persistent traffic jams...

Top Story

NAIROBI, Kenya, Nov 3 – The government will not introduce new taxes to finance the National Infrastructure Fund (NIF), Presidential Council of Economic Advisers...