As Kenya begins critical deliberations on the Finance Bill 2025, University of Nairobi economics lecturer Prof. X.N. Iraki has thrown his weight behind a call for transparency, inclusion and efficiency in fiscal planning while urging Kenyans to actively shape the country’s economic trajectory through honest dialogue and civic participation.
“My name is X.N. Iraki. I teach young men and women to make money more honestly, essentially teaching them business and economics,” said the professor, who is known for blending economic insight with down-to-earth humour.
“When I’m not at the university, I negotiate dowry on weekends and play golf.”
But beyond the light moments, Prof. Iraki is clear-eyed about the seriousness of the country’s financial future.
He believes that the Finance Bill 2025, unlike its predecessor, shows signs that the government is listening to public demands, especially around curbing wastage and promoting fiscal responsibility.
“There’s an emphasis on efficiency, less leakage, so that we can do more with what we have,” he said.
Prof. Iraki has particularly welcomed the proposal to exempt pensioners from taxation, describing it as both just and long overdue.
“I’ll work 30 or 40 years, saving for my retirement. When I’m tired and can no longer work, it’s only fair that I’m not taxed on my pension. Pensioners have already done their part for this country,” he said.
On the housing front, the professor pointed to a shift in government strategy as a step in the right direction.
“The housing levy alone won’t solve the problem. But now, the government is saying: if you take a mortgage, we’ll give you salary relief. That’s smart,” he noted. “But for this to work, interest rates must come down. We need to make more Kenyans houseable in decent locations and homes.”
Equity in taxation was another key theme in his message.
Prof. Iraki acknowledged long-standing perceptions that civil servants disproportionately benefit from allowances and per diems.
“Whether you work in government or the private sector, we all contribute to this economy. It’s only fair that if we’re paying taxes, everyone pays,” he said.
The don is urging all Kenyans, from economists and farmers to small traders and youth, to contribute their views during public participation processes.
This, he argues, will help produce a budget that is not only practical but representative of all voices.
“If we do that, we’ll avoid another round of protests. Remember, last year, our GDP dropped from 5.7 per cent to 4.7 per cent and one reason was the instability caused by unrest. Our youth need jobs and economic stability, not more disruption,” he said.
On his part, National Assembly Speaker Moses Wetang’ula confirmed that the budget estimates are now before departmental committees for review and stakeholder consultations.
“The estimates now stand committed to the relevant departmental committees and the Budget and Appropriations Committee for in-depth review and stakeholder engagement,” said Wetang’ula.
Treasury Cabinet Secretary John Mbadi also echoed the message of public responsiveness, noting that proposed expenditure cuts would mainly target the national government’s operational costs, including travel and non-essential spending.
“These changes are informed by the need to listen to the people to prevent the scenes we saw last year when the Gen Zs rose up to reject the Finance Bill 2024,” Mbadi stated.
The total budget for FY 2025/26 is projected at Ksh 4.34 trillion, anchored on five pillars: Agricultural Transformation for Inclusive Green Growth, Housing and Settlement, Healthcare, the Digital Superhighway and Creative Economy, and Micro, Small and Medium Enterprise (MSME) development.
In closing, Prof. Iraki offered a call to unity and constructive engagement: “Let’s talk together as Kenyans and solve our socio-economic problems honestly and inclusively. That’s how we move forward.”
