File image of Herman Manyora
Political analyst Herman Manyora has urged President William Ruto to save himself from his economic advisor David Ndii.
In a statement via X platform formerly known as Twitter, Manyora said Ndii who chairs the president’s economic council has not helped the head of state and the country at all.
“David Ndii’s pata potea economics is not helping Ruto. Ndii is idealistic, egoistic. Ndii said the Shilling will go down to around 120 to a dollar, but as we get to the payment day the dollar is dangerously moving to 150. Dear Ruto, save yourself from Ndii,” Manyora stated.
The University of Nairobi don was reacting to an announcement by the Treasury that the government would back down on a fuel import credit scheme it had entered with the gulf countries early this year.
According to Treasury Cabinet Secretary Njuguna Ndung’u the government will now allow private sector players, including oil marketing companies (OMCs), banks, and credit insurance providers, to run the scheme.
“There is no end game to this because what we will do is that the government will step back and allow the market to work on its own, with those deferred LCs,” Prof Ndungú said as quoted by Business Daily.
The scheme which was developed by the Kenyan government in collaboration with the governments of the United Arab Emirates and Saudi Arabia, aims to relieve forex pressures by eliminating the purchase of fuel, the country’s single-largest import commodity, in the spot market by deferring the demand for dollars, which is estimated to be $500 million per month.
Kenya has been facing a dollar shortage and this has contributed to rising prices of fuel in the country.
Also Read: Karua Responds to Ndii Over Receiving President Ruto’s Millions
