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Kenya Drops Budget Cap to Reach Oil-Cash Deal, Lawmakers Say

By David Herbling

Bloomberg
May 21, 2018, 10:01 PM CDT Updated on May 22, 2018, 12:34 AM CDT

Kenya agreed to drop budget-allocation limits for oil-rich counties in order to break a deadlock in passing a revenue-sharing law that’s delayed production.

“We reached a compromise to support the bill,” Turkana South Member of Parliament James Lomenen said by phone. “The caps have been removed. The only remaining hindrance to the early-oil program now is that the road has not been fixed.”

Passage of the proposed law is required before an early-oil program can continue.


Read more at:
https://www.bloomberg.com/news/articles/2018-05-22/kenya-drops-spending-caps-to-reach-oil-cash-deal-lawmakers-say