The fuel subsidy program had brought the price of fuel down during Former President Uhuru Kenyatta's administration a few months ago.
Picture courtesy. Image used for illustration.
The subsidy was costing the government billions of shillings every month to keep the program afloat as per the reports that we have with us.
However, the Former President Uhuru Kenyatta administration left the scene with a debt amounting to billions of shillings as a result of the subsidy.
The administration also left behind a debt to maize millers who had also been urged to bring the price down as a subsidy with the government owing them billions of shillings.
This evening, according to the available reliable reports that we have with us from President William Ruto's administration, they are said to have offset some of the balance in the fuel subsidy program.
The President William Ruto led administration is said to have paid the OMCs billions of shillings in the week that ended the 25th of February 2023.
The government has paid over 6 billion Kenya shillings to the OMCs as part of the debt that was owed to them by the previous administration.
The debt has now been partially settled by President William Ruto administration as per the reports that we have with us from the government.
6 billion Kenya Shillings is a fraction of the billions that the government owes many businesses that had helped the government achieve the subsidy program in the country.
Let us know your thoughts and opinions on this latest development in the comments section below this article.
Picture courtesy. President William Ruto at a past event in the country where he was addressing a crowd.
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