Beauty entrepreneur Laura Ikeji Kanu has voiced her concerns about the steep rise in rental prices in Lagos.
In an Instagram video, Laura pointed out that many businesses are quietly shutting down in Lagos due to exorbitant rents.
She noted that the current rental prices are equivalent to what used to be the cost of purchasing homes just a few years ago.
She also urged the state Governor, Babajide Sanwo-Olu, to take action to address the issue.
“What is going on in Lagos State? Shops are closing down without a sound. Businesses are vacating their premises quietly.
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“It’s not that they aren’t doing well; they are selling, but the rent in Lagos is now what we used to pay to buy a four-bedroom duplex in Ajah.
“That’s the annual rent being charged for mall shops in Lagos. Governor Sanwo-Olu, what can we do? How can you help businesses in Lagos?
“Many shop owners can’t shift to online sales, but I believe they should. If you have to close your shop, please consider moving online instead.
“However, as the governor of the state, what solutions can we explore?
“What can you, along with the average Lagos entrepreneur and business owner, do to tackle this issue?” she asked.
