National Treasury and Economic Planning Cabinet Secretary John Mbadi has pledged robust government support for the petroleum sector while outlining broad fiscal and structural reforms to stabilise and grow the economy.
While addressing key stakeholders in the petroleum industry during the second quarter 2025 briefing organised by the Petroleum Institute of East Africa (PIEA), the CS applauded PIEA members for their role in creating jobs, contributing to tax revenues, and supporting infrastructure across the petroleum value chain. "We appreciate the role of PIEA in economic development within Kenya and the East African Community," expressed the CS, noting that the institute's contributions have significantly shaped Kenya's employment landscape, tax base, and regional capacity in oil and gas.
Mbadi stated that Kenya's economy had demonstrated resilience, recording an average growth rate of 5.2 per cent between 2023 and 2024, outpacing both the global average of 3.3 per cent and Sub-Saharan Africa's 3.8 per cent.
He attributed this performance to deliberate policy choices and a diversified economic base.
