A Brief on Kenya’s Petroleum Sector Statistics

Kenya’s petroleum sector encompasses the exploration, extraction, refining, distribution, and utilization of petroleum resources within the country. This sector plays a crucial role in Kenya’s economy, contributing to revenue generation, job creation, and energy supply. The sector is regulated by the Energy and Petroleum Regulatory Authority (EPRA). It was established under the Energy Act of 2019, succeeding the Energy Regulatory Commission (ERC), and it functions as an autonomous agency under the Ministry of Energy. This brief serves as a comprehensive overview of Kenya’s petroleum sector statistics encompassing vital aspects, such as landed costs, international price trends, product pricing, storage, distribution, taxation, and consumption patterns. Understanding these elements of the industry is crucial for all the stakeholders in the country.

Fact Sheet on Analysis of Kenya’s Supplementary Estimates -FY 2024/25

The supplementary estimates should be prepared in line with article 223 of the Constitution of Kenya and section 44 of the Public Finance Management Act, 2012. The revision of the approved expenditure estimates for the financial year 2024/25 was necessitated by the withdrawal of the Finance Bill 2024. The bill was projected to raise additional revenue amounting to Ksh. 346 Billion. This revenue shortfall will be financed by both borrowing and by government undertaking budget cuts within its various programs.

Budget Guide for the Financial Year 2024/2025

This analysis of Budget 2024/2025 interrogates the extent to which the budget is aligned to fiscal consolidation agenda and the government budget theme “sustaining Bottom-Up Economic Transformation Agenda (BETA)^[1], fiscal consolidation and investing in climate change mitigation and adaptation for improved livelihoods” In relation to this, it focuses on big expenditure items, how the overall budget will be financed and reaffirms the priority policies and strategies under BETA  which are prioritized in the Fourth Medium Term Plan of the Vision 2030.

In terms of organization, this analysis first presents the macroeconomic performance for the country over the years, an overview of the entire budget, then proceeds with expenditure analysis that looks at issues of mandatory spending and what this means to budget flexibility, a brief on judiciary and what is expected in terms of sectoral priorities.

In addition to providing information to stir up public debate of the budget, the Institute of Economic Affairs (IEA)-Kenya through this brief point out policy concerns and issues that parliamentarians and citizen’s may raise and consider in their scrutiny and interrogation of the budget 2024/2025.

[1] This Development Agenda recognizes the importance of managing the cost of living through well-functioning markets to enhance increased production and productivity, availability and affordability of goods and services for all citizens. Indeed, market failures in sectors that supported the economy are glaring. The interventions target five core priority areas namely: i) Agricultural Transformation and Inclusive Growth; ii) Micro, Small and Medium Enterprise (MSME) Economy; iii) Housing and Settlement; iv) Healthcare; and v) Digital Superhighway and Creative Industry.

FACT SHEET Kenya’s Budget, 2024/25

Analysis of the Auditor General’s Report on the Financial Statements of the Kitui County Executive: FY 2020/21 – 2021/22

In the Financial Year 2021/2022, Kitui county committed to spend Ksh. 499,555,498 in healthcare facilities that were never completed. In trying to ascertain the specific project, Audit revealed that the project files were not provided for audit verification and information available indicated that the projects started way back in 2017. The people were denied access to medical services that would have been tenable had the project been completed. The county government cannot show value for money for such an expensive venture

Analysis of the Auditor General’s Report on the Financial Statements of the Kisumu County Executive: FY 2020/21 – 2021/22

There was a decrease in amount queried, from Ksh 5.1 billion in FY 2020/21 to Ksh 3.8 billion in FY 2021/2022. However, the actual number of audit queries increased from the previous audited county financial statements.

• • Violation of financial regulation increased from 15 cases to 27 cases, lack of supporting documents increased from 20 cases to 25 cases while failure to reconcile shot up from 3 cases to 25 cases and no value for money reported 16 cases from one case in the previous year.
  • The queries revolved around, failure to reconcile books of account, lack of supporting documents, violation of financial regulations, no value for money and pending bills. Most of these issued have been carried forward without any resolutions

Analysis of the Auditor General’s Report on the Financial Statements of the Busia County Executive: FY 2020/21 – 2021/22

There was an increase in amount queried, from Ksh 5.6 billion in FY 2020/21 to Ksh 5.8 billion in FY 2021/2022. While major audit issues in FY 2020/21 and FY 2021/22 revolved around, lack of supporting documents, violation of financial regulations and pending bills. Most of these issued have been carried forward without any resolutions.

2022 Audited Account

Analysis of the Auditor General’s Report on National Government for the Financial Year 2021/2022 and 2022/2023: Analysis for Agriculture, Infrastructure, Health and Water Ministries

The findings presented in the report shed light on fiscal discipline, transparency, and the effectiveness of public

resource management in Kenya’s governance framework. This analysis serves as a critical tool for policymakers,

legislators, and citizens, offering insights into the fiscal health of the government and identifying areas that

require attention and improvement. In this summary, we delve into the key highlights and implications of the

Auditor-General’s observations, aiming to provide a clear understanding of the challenges and opportunities

facing the national government in its pursuit of accountable and efficient financial management.