“You Will Not Have Any Business In Lagos Soon,” Laura Ikeji Warns Babajide Sanwo‑Olu Amid Soaring Shop Rents

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Renowned entrepreneur and social media influencer Laura Ikeji‑Kanu has raised a public alarm over the unprecedented surge in commercial rents across Lagos, calling on Governor Babajide Sanwo‑Olu to take urgent action.

In a viral video, Laura described how her own shops have faced dramatic increases in rent, highlighting the struggles of business owners in Nigeria’s commercial capital.

“My store went from N4 million to N8 million, from N8 million to N13 million, from N13 million to N16 million. The other one went from N3 million to N8 million, from N8 million to N16 million, and now I pay N30 million as rent.”

She stressed that the current situation is unsustainable, even for entrepreneurs with multiple income streams:

“I can’t cope, and this is coming from somebody who actually makes money outside business… Things are so bad.”

Speaking as a representative of Lagos business owners, Laura conveyed the collective frustration of entrepreneurs facing skyrocketing rent costs:

“To Governor Sanwo‑Olu of Lagos State, we the Business Women Association of Lagos State, whether we are founders or owners of small businesses, we are frustrated.”

Laura warned of the potential consequences if the government fails to intervene, stating:

“You will not have any business in Lagos soon because a lot of people would have to move out of Lagos.”

She also criticized the absence of effective rent regulation in Lagos and demanded immediate government support:

“Since you have refused to regulate the rent in Lagos, maybe you should start giving us money for business… So do something.”

Laura Ikeji’s statements have intensified the conversation around Lagos commercial rents, which have been rising sharply, threatening small and medium-sized businesses.

Experts and business owners agree that without immediate government intervention, many entrepreneurs may be forced to shut down, undermining Lagos’ position as a thriving business hub.

This growing crisis highlights the urgent need for rent control policies, government support programs, and sustainable commercial leasing practices in Lagos to protect the city’s vibrant business community.

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