Speaking at the 42nd annual Institute of Certified Public Accountants of Kenya (ICPAK) Conference in Mombasa, Nyoro highlighted the rapid growth of the country’s debt since the current administration took office.
Nyoro noted that when President William Ruto assumed leadership, the national debt stood at Ksh8.7 trillion.
In just three years, the debt has surged to Ksh12.5 trillion, averaging Ksh3.8 trillion in borrowing per year.
He compared this with previous administrations, pointing out that President Mwai Kibaki left a debt of Ksh1.8 trillion after ten years in office, while President Uhuru Kenyatta borrowed about Ksh7 trillion over two terms, leaving a debt of Ksh8.7 trillion.
“The rate at which we are borrowing now is unprecedented,” Nyoro said.
“We need to carefully ask why we are borrowing and what the borrowed funds are being used for.”
The lawmaker urged the national government and the Treasury to maintain a single, consolidated book of debt.
According to him, such a measure would prevent hidden borrowing, illegal loans, and financial mismanagement.
Nyoro emphasized that without a unified tracking system, the country risks accumulating debt that is difficult to control or account for.
Nyoro’s warning comes at a time when Kenya is facing rising public concern over debt sustainability and the economic burden on citizens.
The MP called for stricter oversight and transparency, urging that all borrowing should be publicly recorded and justified.
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