Reps To Investigate Family Homes Failure To Deliver Affordable Houses

The House of Representatives has moved to investigate Family Homes Funds Limited over the 500,000 Units Housing Scheme of the Federal Government.

The resolution followed the adoption of a motion on ” Need to Investigate the Family Homes Funds Limited over the 500,000 Units Housing Scheme of the Federal Government”, moved by Mr. Esosa lyawe.

Leading the debate on the motion, Mr. Iyawe said that the House notes that the Housing Sector has consistently played a pivotal role in the economic fortune of nations and contributes about 16 percent of the Gross Domestic Product (GDP) in advanced countries.

“Also notes that in 2021 the World Bank estimated that Nigeria’s housing deficit stood at 15.56 million units, and in 2023, the Federal Government put the housing deficit statistics at 28 million units with an estimated funding need of 21 trillion naira;

“Concerned that some of the housing schemes initiated by the Federal Government have been mired in controversy, the consequence of which is the rapid growth of informal settlements, and slums on the edge of Nigeria’s major cities, with obvious drawbacks for economic development, health, safety and security;

“Aware that in a bid to address the housing deficit in 2018, the Federal Government established the Family Homes Fund Limited with a mandate to utilize the sum of 1.5 Trillion Naira for the construction of at least 500,000 houses for low-income earners across the country.

“Also concerned that to date, not only has Family Homes Fund Limited failed to live up to expectations, but the few houses built are in obscure locations and unaffordable to the target audience for the scheme;

“Cognizant that the undelivered project has tied up government funds, potentially leading to deterioration of the houses and further economic loss, if not addressed promptly” the motion read.

The House resolved to mandate the Committee on Housing and Public Assets to investigate the Family Homes Funds Limited over the 500,000 Units Housing Scheme funded by the Federal Government and ascertain the status of the project and report within four (4) weeks for further legislative action.

Emmanuel Ukoh