Reps committee to probe estate developers over 500,000 housing units

The House of Representatives has taken preliminary steps to probe renowned estate developers, Family Homes Funds Limited, over the 500,000 units housing scheme funded by the Federal Government.

This followed the consideration of a motion on Thursday sponsored by Edo lawmaker, Esosa Iyawe.

Iyawe noted with concern 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.”

He said, “In a bid to address the housing deficit in 2018, the Federal Government established the Family Homes Fund Limited with a mandate to utilise the sum of N1.5tn for the construction of at least 500,000 houses for low-income earners across the country,

“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.

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

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

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