Real Estates Developers Association of Nigeria (REDAN) has vowed to resist further move by the Minister of Federal Capital Territory, Senator Bala Mahommed, to carry on with the ongoing demolition, stating that further demolition could precipitate huge crisis in the housing sector.

Reacting to the legal tussle over the demolition of N3billion Minanuel Housing Estate, the Minister told the Senate committee on FCT that there was no going back on plans by the Development Control Department of the administration to demolish 31 housing estates, which according to REDAN, is worth N37.82billion.

A report by REDAN, in-house committee on verification of Documents submitted by Developers along Lugbe /Airport Road axis of FCT, has also put the total number of houses under construction at 4,961 with over 17,323 subscribers. The total area is also estimated at 2.990.9 hectares.

The president of REDAN, disclosed this in Abuja, called on President Goodluck Jonathan to stop the Minister from going ahead with the planned demolition, adding that the moves would have serious effect not only in the Nigeria economy, but also the nation’s security.

Afolayan stated “the closure of Dangote cement factory in Gboko, Benue State may have been as a result of the directive by REDAN that developers should stop further construction.”

He called on the federal government to act fast in order to prevent the kind Mortgage crisis that ravaged the United State of America, emphasizing, that the whole world is still feeling the effect.