Counties

Laikipia governor criticises Sh1.6bn bond bid rejection

nderitu

Laikipia Governor Ndiritu Muriithi. FILE PHOTO | NMG

Summary

  • Laikipia governor Ndiritu Muriithi has faulted the county assembly for failing to approve a Sh1.16 billion infrastructural bond.
  • However, the governor said he would continue pushing for its approval.
  • This is after the county assembly approved the Sh8.1 billion 2021-2022 budget last week but rejected the bond plans Mr Muriithi had proposed.

Laikipia governor Ndiritu Muriithi has faulted the county assembly for failing to approve a Sh1.16 billion infrastructural bond.

However, the governor said he would continue pushing for its approval.

This is after the county assembly approved the Sh8.1 billion 2021-2022 budget last week but rejected the bond plans Mr Muriithi had proposed.

The MCAs said the bond would only burden the residents, given that it was a debt.

The ward representatives also argued that the county administration should first pay contractors and suppliers their pending bills before embarking on a borrowing spree.

Mr Muriithi said yesterday the county assembly erred and went against the law by failing to approve the county infrastructure bond.

“The law is expressly clear that the assembly cannot originate the County Fiscal Strategy Paper and the financial estimates,” he said.

“My administration will continue engaging members of the county assembly, citizens among other stakeholders on items of the budget that are of public interest which includes but not limited to the infrastructure bond issuance.”

The county would have repaid the Sh1.16 billion infrastructure bond within seven years, including Sh950 million in interest.