…Says, New Law Will Enhance Efficiency In Housing Sector
By Onyekachi Eze
More reasons why the Imo State House of Assembly (10th House) repealed the Housing Corporation Edict no. 14 of 1976 and enacted a new Law to that effect, have emerged, following explanations explicitly rendered by the Chief mover, Rt. Hon. Kanayo Onyemaechi.
Members of the Imo State Assembly on Thursday, May 8, 2025 repealed the Imo State Housing Corporation Edict no. 14 of 1976.
The repealed edict had operated for over forty-seven years which caused the present Imo Lawmakers to dissect it part by part and in sections, ensuring that the newly enacted Law meets up to the requirements for an effective Housing venture by the Imo Government and future housing investors in the State.
During his presentation, Rt. Hon. Kanayo Onyemaechi (Majority Leader, representing Owerri West) explained that the 1976 edict (law) was obsolete and no longer serving the purpose for the present realities, hence the need for its repeal.
He opined that the new Law to establish the Imo State Housing Corporation, its Constitution and for other related matters is encompassing and will empower the Government of Imo State to enter into healthy Partnerships with investors into the Housing Sector.
Onyemaechi reiterated that while the old Law of 1976 could no longer accommodate the current realities, the newly enacted Law is in conformity to latest Housing Corporation practice globally.
The Majority Leader expressed optimism that if passed, the Law would widen the opportunity and make it easier for the Imo State Housing Corporation to enter into agreement such as Public Private Partnership with persons for the supply, construction, manufacture, maintenance, or repair of movable or immovable that is necessary for the Corporation and for purchase, lease or otherwise acquire and hold, and dispose of land, shares and all other property.
Some other provisions of the Bill as in the functions and Powers of the Corporation states that it would be charged with the responsibility for the design and Supervision of the construction of Houses, acquisition of Houses, management of Housing Estates and rental to the members of the public.
Furthermore, the Corporation shall control and manage the development of Housing units and perform such other functions as the Board may direct, amongst other provisions.
Hon Onyemaechi maintained that the Law is for the overall interest of Ndi Imo.
“It provides opportunity for the Public Private Partnership (PPP) Law to flourish, which had previously been passed in this hallowed Chambers, for people to come into Imo and partner with Government in the area of providing housing facilities”.
“Investors are eagerly waiting by the corners, waiting for the right laws to drive the housing sector.
“If the Edict is not repealed, investors cannot come in, because there are sections of the outdated 1976 Edict that can prevent investors from coming in to do housing businesses in Imo”, said the Majority Leader.
The House at the plenary session, presided by the Speaker, Rt. Hon. Chike Olemgbe after its robust second reading, Committee of the whole house and third reading passed the bill into Law.
Currently, it is awaiting the Governor’s assent.
