Reps pass National Housing Fund amendment bill

The House of Representatives on Thursday passed through second reading a bill which seeks to provide additional sources of funding for housing delivery in Nigeria.

The lawmakers expressed support for the Federal Government’s plan of providing four million owner-occupier scheme during the debate on the bill which seeks to repeal the NHF Act, Cap. N45, Laws of Federation of Nigeria, 2004 and to re-enact the NHF and for related matters, sponsored by Ahmad Kaita.

In his lead debate, Kaita explained that the proposed amendment seeks to bring the Act into conformity with the present day realities so as to have more houses in Nigeria as well as introduce effective reform the housing reform initiative in the housing sector.

“This seeks to expand sources of funding for the federal mortgage bank of Nigeria and to position the bank for effective and affordable housing delivery in Nigeria.

“The provision of affordable housing to the citizenry has remained a basic need for every family and the focus of every successive government in Nigeria.

“This is because housing development is vital economic activity that provides substantial employment opportunities and key parameter for measuring quality of life in any society,” Kaita stressed.

According to him, Section 16 of the 1999 Constitution (as amended) conferred on government to direct its policies toward ensuring adequate provision of suitable and adequate shelter for all citizens.

He noted that the present administration in line with APC manifesto has pledged to “create additional four million middle class new home owners by the year 2019 by enacting national mortgage single digit interest rate for purchase of owner occupier houses as well as reduce the collateral qualification for funding of home ownership easier.

“With a 15 to 30 years mortgage term, this will equally help our banking system migrate from short term to long term role in sustaining the initiative.

“This lofty dream to provide affordable housing for all Nigerians cannot be achieved and sustained without the provision of appropriate legislative framework that is up to date,” he noted.

To achieve the feat, the lawmaker underscored the need for review of relevant legislations with the view to provide foe investment guideline and deliberate management mechanism for property development and housing in Nigeria.

He also stressed the need for the National Assembly to provide laws that will support sources of funding, upgrade offences and penalties.

While ruling on the bill which was supported by other lawmakers, Speaker Yakubu Dogara who presided over the plenary session referred the bill to the House Committee on Housing.

KEHINDE AKINTOLA, Abuja