Housing Development Advocacy Group of Nigeria has commended the appointment of Sam Egwu as Chairman Senate Committee on Housing, and have expressed their willingness to work with the chairman on the passage and review of several outstanding bills bordering on the sector in the National Assembly.
The newly appointed Chairman of Senate Committee on Housing, Distinguished Senator Sam Egwu has been described by stakeholders in the housing sector as a worthy choice whose experience can bring about the needed change in the sector and inspire confidence.
Many believe that his credible performance as former governor and his immense support for the Ebonyi State Property Development Corporation can offer reasons to believe in a new dawn where affordable housing will be a major priority of the government, especially the national assembly.
Speaking with Housing News,Festus Adebayo of Housing development advocacy network said that as chairman of committee on housing, Senator Sam Egwu is definitely in a familiar terrain.
‘’In my conversation with him, I can confirm that he is the right person that can bring housing stakeholders together in order to produce the kind of change we have always yearned for in the sector. He has performed very well in this sector in the past and is coming on board with very useful experience. And we have always clamoured for the appointment of those fit for the job,’’ he said.
Adebayo said that he is confident that Senator Egwu will promptly look into outstanding bills that will facilitate real estate investment in Nigeria.
‘’Housing Development Advocacy Network is committed to working with him especially in the area of legislation. We are ready to work with him to fast track the passage of foreclosure bill into law to legally resolve default issues in the sector. Also the review of land use act of 1978, Federal Government Housing Loans Board bill (FGHLB), the National Housing Fund (NHF) Scheme Act 1992, Mortgage Banks Act 1989 (subsumed in BOFIA), Federal Mortgage Bank of Nigeria (FMBN) Act 1993, The Trustee Investment Act 1962, The Nigeria Social Insurance Trust Fund (NSITF) Act 1993, The Insurance Act 2002, The Investment and Security Act 1999, The Federal Housing Authority (FHA) Act 1990, Securitization Bill amongst many others,’’ he said.
With a housing deficit in the region of 17 million and above, stakeholders believe that a decisive policy action is long overdue, and with Sam Egwu on board in the senate, the expectations remain high, but at least many believe he can be trusted to deliver.
Also, through oversight functions, Senator Sam Egwu is expected to help facilitate and make it easy for local and international investors to bring a new spark into the sector where financial investments can meet the mounting real estate and affordable housing needs in Nigeria.
By Ojonugwa Felix Ugboja