The House of Representatives’ Speaker, Yakubu Dogara has lamented that National Housing Funds Act and other policy initiatives aimed at providing decent and affordable housing for Nigerians were been disregarded.
He complained about the “flagrant” abuse and disregard for the NHF Act by those tasked with the responsibility of implementing them.
Dogara said this at a two-day public hearing on a motion on the need to ensure full compliance with the National NHF Act for effective housing delivery in Nigeria.
The Speaker, who was represented by the House Minority Whip, Hon. Binta Bello Mashi (PDP, Gombe), sais policies designed to provide adequate housing for Nigerians had not yielded positive results due to violation of the FHA Act by the stakeholders.
In his view, he said: “There is need to unravel why some stakeholders in the housing sector failed to comply with the NHF Act and the Federal Mortgage Bank Act.
“The NHF was designed to assist the public servants and private sector employee while saving a percentage of their income.
“The government through mortgage bank institutions are expected to provide loans to real estate developers to build low cost houses for Nigerians but unfortunately both programmes are not yielding the desired result as houses are still not within the reach of Nigerians.”
The Chairman, House Committee on Housing, Hon. Ahmed Baba Kaita (APC, Katsina), noted in his address earlier that the public hearing was in fulfilment of the campaign promise of the Federal Government to create an additional middle class of at least four million new home owners in 2019.
“This will be achieved by enacting national mortgage single digit interest rates for purchase of owner-occupier houses as well as review the collateral qualification to make funding for home ownership easier with a 15 to 30 years mortgage term”, Kaita added.
During the meeting, some stakeholders in the housing sector called for stiffer penalties against defaulters of the NHF Act.