The House of Representatives has begun preliminary steps to investigate estate developers, Family Homes Funds Limited, over the 500,000 housing units scheme funded by the Federal Government.
This decision followed the consideration of a motion on Thursday, sponsored by Edo lawmaker Esosa Iyawe, who expressed concerns over controversies surrounding some government-backed housing initiatives.
Iyawe highlighted the growing problem of informal settlements and slums on the outskirts of major cities, citing their negative impact on economic development, public health, safety, and security.
“In a bid to address the housing deficit in 2018, the Federal Government established the Family Homes Fund Limited with a mandate to utilise ₦1.5 trillion for the construction of at least 500,000 houses for low-income earners across the country,” he said.
He, however, noted that the initiative has failed to meet expectations, with only a few houses constructed in remote locations, making them unaffordable for the intended beneficiaries.
“The undelivered project has tied up government funds, potentially leading to deterioration of the houses and further economic loss if not addressed promptly,” Iyawe added.
Following the adoption of the motion, the House mandated its Committee on Public Assets to investigate the Family Homes Funds Limited, assess the current status of the housing scheme, and submit a report within four weeks for further legislative action.
