How Can We Save Business? – Laura Ikeji Quizzes Gov. Sanwo-Olu Over Alarming Increase In Lagos Shop Rents

Nigerian fashion entrepreneur, Laura Ikeji Kanu, has decried the alarming increase in rental property prices in Lagos State.

Naija News reports that Laura, in a video shared on Instagram, said many businesses are quietly closing down in Lagos due to high rent.

According to Laura, the amount of money being demanded as rent is usually the price of a house a few years ago.

She further questioned the State Governor, Babajide Sanwo-Olu, about what can be done to salvage the situation.

She said, “What is happening in Lagos state? Shops are closing quietly. People are leaving their buildings quietly. Not like they are not doing well, they are selling but the rent in Lagos, the kind of rent they charge in Lagos are the kind of money we use to buy four-bedroom duplex in Ajah. Buy o! That is what they are charging per year in Lagos. 

“For mall shops. Governor Sanwo-Olu, what can we do? How can you save businesses in Lagos? A lot of these shop owners cannot transition to online business. I actually think they should. If you close your shop, please don’t close it down. Transition to online and sell online.

“But again, as the governor of the state, what can we do? You and the average Lagos entrepreneur and the Lagos business owner, what can we do to salvage this problem?”