Laura Ikeji Kanu, a prominent beauty entrepreneur, has expressed deep concerns regarding the alarming rise in rental costs within Lagos.
In a video posted on Instagram, Laura highlighted that numerous businesses are quietly shutting down due to exorbitant rent prices. She pointed out that the current rental fees are comparable to purchasing a house merely a few years ago.
Moreover, she called on the Lagos State governor, Babajide Sanwo-Olu, to propose solutions to this pressing issue.
She stated,
‘’What is going on in Lagos state? Shops are closing without fanfare. Businesses are vacating their premises discreetly. They are not struggling; sales are happening, yet the rent demanded for these locations is equivalent to the cost of buying a four-bedroom duplex in Ajah—yes, you heard me right! That's the annual rent for shopping mall spaces in Lagos. Governor Sanwo-Olu, what can we do? How can you assist in preserving businesses in Lagos? A large number of these shop owners may not be able to switch to online operations. I genuinely believe they should. If you must close your shop, please consider transitioning to online sales instead.
However, as the governor, what actionable steps can you take? Together with the average entrepreneur in Lagos, what can we do to address this crisis?’’
You can view her video below.
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