The UI of Facebook Lite is very... reduced. However, all you need is there. Maybe we'll see more of these in the future (Twitter, Instagram, Whatsapp etc.)? And hey, the official Facebook-app install package alone is ~ 26 MB!
If you decide to install Facebook Lite, you do it AT YOUR OWN RISK! Remember to allow install from external sources in Android Settings.
Facebook Lite on my Nexus 4