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The Treasury CS said reports that Kenya could be offered a stake in the refinery under a proposed regional participation arrangement should not be interpreted as evidence that Ruto personally has an interest in the investment.
Margaret Nyakang’o said agencies do not automatically qualify for funding simply because they claim they need money outside their approved allocations.
Mbadi said Treasury could not skip public participation because doing so would leave the proposed changes open to legal challenges. He said the government would first allow Kenyans to give their views before the proposals are turned into a Bill for consideration by Parliament.
The figures highlight one of Kenya's longstanding economic challenges: creating sufficient employment opportunities for a rapidly expanding working-age population while reducing dependence on informal work
Despite the strong collections, the government did not fully meet its three-year target. Treasury had projected cumulative receipts of Sh212.78 billion, leaving actual collections Sh6.32 billion lower than expected, equivalent to a 2.97 per cent shortfall
The system will bring together information on funding commitments, disbursements and the areas benefiting from development support. It is expected to give the Government more reliable and timely data when planning and assessing development programmes.
Although the proportion going to recurrent expenditure has declined compared with earlier years, the use of debt to meet routine government costs remains contrary to the Public Finance Management Act, 2012.
The CS dismissed suggestions that the President had already prepared the proposed development plan, saying the consultations were intended to allow the country to collectively decide its economic and social priorities for the decades ahead.
Treasury CS Mbadi told the Senate Committee on Labour and Social Welfare that private universities have been seeking payment for years, with his office now faced with numerous claims from institutions that provided services but were not paid.
The petition asks the court to determine whether the public debt was incurred lawfully and whether former President Uhuru Kenyatta and a number of current and former government officials should be held personally responsible for decisions made during the borrowing process.
The funding gap is expected to pose challenges to some of the Judiciary's planned activities even as courts continue to deal with heavy workloads and growing demand for services.
To reverse the revenue slowdown, Mbadi said the government is accelerating the use of technology in tax administration, aimed at widening compliance and sealing loopholes.
Mbadi pointed to ongoing interventions aimed at shielding households from fuel-related shocks, including stabilisation measures introduced in April 2026.
Speaking on Saturday during the Kenya Union of Post Primary Education Teachers (KUPPET) Homa Bay Branch Thanksgiving Ceremony, Mbadi said consultations with the Ministry of Education were already underway and the allocation was being integrated into the current budget process.
The committee, led by Nakuru Town East MP David Gikaria, argued that the changes had stripped the ministry of most of its development budget and raised fears over the future of workers and ongoing projects.
The Hustler Fund, introduced in late 2022, was designed as a major financial inclusion tool targeting boda boda riders, mama mbogas, kiosk owners and young entrepreneurs who often rely on expensive informal lenders.
Speaking on NTV Kenya on Monday, Mbadi said the government had already spent about Sh35 billion through fuel subsidies and tax reductions to cushion consumers from rising petroleum prices.
Under the proposed Regulation 163 of the Public Finance Management (National Government) Regulations, internal auditors acting in good faith would be protected from punishment linked to their audit work or disclosure of misconduct.
Treasury figures show that ministries, departments and agencies used Sh262.63 billion on development between July and March 2026, up from Sh170.83 billion in the same period the previous year, representing a 53.7 percent rise.
Controller of Budget Margaret Nyakang’o told MPs that Kenya’s debt servicing hit Sh923.14 billion in six months, taking 89% of a key budget vote and squeezing funds for development programmes.
If approved, the overall allocation for the presidency will more than double, rising from the Sh7.68 billion initially approved to Sh16.1 billion.
The original budget had set aside Sh16 billion for the project, highlighting a major increase to accommodate ongoing construction and preparatory activities.
Speaking during the release of the results of the Kenya Pipeline Company Limited (KPC) Initial Public Offer in Nairobi on Wednesday, Mbadi said the offer, which opened on January 19 and closed on February 24, 2026, received applications for 12.49 billion shares against the 1.8 billion shares on offer at Sh9 each.
Treasury Cabinet Secretary John Mbadi disclosed the measures on Wednesday, February 25, 2026, during a Senate session, noting that fines for violating the Banking Act have quadrupled from Sh500,000 to Sh2 million.
According to the latest data from the Treasury, the stock of pending bills dropped from Sh525.4 billion in September 2025 to Sh468.5 billion by the end of December.
Treasury Cabinet Secretary John Mbadi said the decision follows extensive discussions aimed at resolving the impasse that had left thousands of retirees financially strained.
Treasury Principal Secretary Chris Kiptoo has directed all accounting officers, county finance executives, and other public entities to submit this information without delay.
Auditor-General Nancy Gathungu’s special report highlights that the Finance ministry lacks a proper framework to monitor climate financing, leaving the nation unable to provide accurate figures on funds received or disbursed.
Last year, Kenya tapped the Eurobond market twice to refinance maturing debt, aiming to ease short-term repayment pressures and improve the overall debt profile.
The initiative aims to streamline the identification, recovery, and return of unclaimed assets, including government securities, shares, safe deposit boxes, and other dormant financial resources.