Tuesday, June 6, 2023 – Former Meru County Governor Kiraitu Murungi has advised President William Ruto on how he can solve the debt crisis facing the country and how to resuscitate the ailing country’s economy.
Speaking on Monday while addressing foreign delegates from nine countries attending the 8th African Petroleum Data Management Forum at the NOC headquarters in Nairobi, Kiraitu, who is currently chairman of the National Oil Corporation urged President Ruto to invest in the Lokichar basin in Turkana County.
According to Kiraitu, the government can collect close to Sh1 trillion (USD8 billion) which would help President Ruto tackle the debt crisis in the country and lift millions of Kenyans out of poverty.
“Experts tell us that the Lokichar field asset is quantified at 472 million barrels recoverable. With the State’s carried interest of 22.5 percent share in the production sharing contract, the country stands to earn USD8 billion at the current rate of USD80 a barrel. We can do a lot with this kind of money,” Kiraitu said.
The Kenyan DAILY POST.
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