FEC, not governors will decide on sale of assets – FG

It was gathered that the Federal Executive Council and not State Governors will take the final decision on the controversial proposal to sell some of the nation’s assets to battle the current economic recession.


This was disclosed by the Minister of Information and Culture, Alhaji Lai Mohammed, on Wednesday after the weekly FEC meeting.

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Mohammed said this clarification became necessary following the outcry that greeted the proposal by the National Economic Council for the sale of the country’s national assets.

While the NEC is chaired by the Vice President and also includes State Governors and the Governor of the Central Bank of Nigeria, the FEC in the main has the President, the Vice President, Ministers, Secretary to the Government of the Federation, the Head of the Civil Service of the Federation and some other key government officials as members.

Speaking with State House correspondents after the FEC meeting on Wednesday, Mohammed said the call by the NEC for the sale of the assets was therefore of no consequence.

He said: “The government is still working on the most comprehensive manner to lift the economy and the government will make its position known very soon.

“What the government will do is to expand the economy.

“Everything you have heard so far is just suggestion.

“Until the government makes its position known, all these assets sale, assets leasing, whatever is being bandied about, they are nothing but speculations.

“The government has yet to come out with its position on how to bail out the economy and it will take that position.

“NEC will recommend but it is the Federal Executive Council that will decide.

“And what we decide will be the position of the government.”

Mohammed and the Minister of Water Resources, Sulaiman Adamu, disclosed that FEC approved three memos from the Federal Ministry of Water Resources.

Mohammed said: “Water, today, like no other time, has become one of the most important resources with economic, social and political implications.

“And the judicious use and allocation of water for human, animals, livestock and industry have become more than ever one of the serious issues facing humanity.

“As a matter of fact, many countries have gone to war over the issue of water.

“So, I believe it is only timely that Nigeria is proactive and has considered the issue of water resources.”

Adamu listed the three memos to include the National Water Policy, the National Irrigation Policy and a Draft National Water Resources Bill.

He said: “The National Water Policy seeks to provide strategies that will improve the management and delivery of water in the country in particular reference to water supply.

“It is followed by the enabling law, that is the National Water Resources Bill, which essentially consolidates all the existing laws: the Water Resources Act, the River Basin Development Authority Act, the National Water Resources Institute Act, the National Hydrological Services Act and other Acts put together to form a national law that conforms to international standard and international best practices.

“By so doing, we have been able to streamline many of the overlapping laws.

“Sometimes, we have conflict in laws.

“Like the one we have with NIWA.

“Some laws relating to environment and mining.

“This bill seeks to sort out all those issues so that we have a standard national law.

“Also so that we can set up a proper regulatory agency to regulate the water sector.”



  1. So, those that are shouting on the news that has not be done should let us hear word cos the presidency hasnt taken any posiyion on the sale. the wailers should keep thier news and hatred, bigotry

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