The House of Representatives has resolved to investigate the
Family Homes Funds Limited over failure to deliver 500,000 Units Housing Scheme, funded by the Federal Government.
Need for the Lower Chamber to beam its searchlight on the matter was raised by lawmaker from Edo State, Hon. Esosa lyawe at plenary on Thursday.
Moving the motion, lyawe noted 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.
He disclosed 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.
The Edo lawmaker expressed concern 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.
“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” he said.
Hon. Iyawe added 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 House Committee on Public Asset was however mandated to ascertain the status of the project and report within four weeks for further legislative action.
