President-elect William Ruto has reiterated his promise to cut the price of cornmeal, which has reached an all-time high.
During a church service in Maua, Meru County on Sunday, Sept. 11, Ruto revealed that he had had extensive discussions with Department of Agriculture officials and decided to cut fertilizer costs first.
He noted that this would reduce maize production costs and subsequently increase farmers’ yields.
President-elect William Ruto will be welcomed by the clergy at an interdenominational thanksgiving service in Maua on Sunday, September 11, 2022.
“For the past four days, I have been holding meetings with the Ministry of Agriculture on how to reduce the cost of maize flour. Farmers have been buying fertilizers for Ksh6,000 per bag.
“In the week starting Monday, I will be announcing the new fertilizer costs so that we can enable corn farmers to increase their production. This will help reduce flour costs, not just for corn but for all grains,” explains Ruto out.
The incoming head of state confirmed that he would tackle cartels in the miraa trade and in the wider agricultural sector, drawing an analogy with Jesus whipping merchants into the temple.
“I want to warn those cartels that I am immediately done with the swearing in, I will drop the whip on them, whether they are brothers or friends,” he repeated.
Ruto hinted that he was meeting with officials from the Ministry of Finance about how to improve the economy. He noted that officials informed him that the debt status cannot be immediately salvaged.
Ruto expressed hope that the economy can be improved by changing the laws to introduce financial reserves.
“They told me that with the current debt situation, we may have no choice but to keep borrowing. But I believe we can recover our economy and the only way to do that is to instill a culture of savings,”
“I have spoken to the tax authorities about how we can create such a reserve without further burdening TBEN financially or harming their businesses,” he said.
The outgoing vice president called on government and opposition leaders to play their part in ensuring that TBEN are freed from debt.
Currently, a 2kg packet of maize flour costs an average of Ksh200, after a government subsidy that had seen the price of the raw material drop to Ksh100.
The National Treasury offices on Harambee Avenue, Nairobi