Fashion entrepreneur and social media influencer Laura Ikeji-Kanu has called on Governor Babajide Sanwo-Olu to address the rising cost of house and shop rents in Lagos State, warning that many businesses are struggling to survive.
Ikeji spoke in a video shared on Instagram on Tuesday, saying her appeal represents businesswomen and small business owners in the state. She described the frequent rent hikes as “unbearable” and frustrating for entrepreneurs.
“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,” she said.
She revealed that she currently pays more than N30 million in annual rent for two shops, one costing N30 million and the other N16 million. She noted that both shops were initially rented at much lower prices, explaining the sharp increases over the years.
“My store went from N4 million to N8 million, from N8 million to N13 million, from N13 million to N16 million,” she said.
“The other one went from N3 million to N8 million, from N8 million to N16 million, and now I pay N30 million as rent.”
Ikeji said the rising cost is difficult to manage. “I can’t cope, and this is coming from somebody who actually makes money outside business,” she said. “Things are so bad.”
She warned that if rents continue to rise unchecked, many businesses could close or leave Lagos. “You will not have any business in Lagos soon because a lot of people would have to move out of Lagos,” she said.
Ikeji urged the governor to regulate rent prices or set up a government department to support struggling businesses. “Since you have refused to regulate the rent in Lagos, maybe you should start giving us money for business,” she added.
She said she may not afford the current rent next year, and her options would be to build her own space or shut down. “So do something,” she said.
Other celebrities have also reacted in support.
Wofai Fada wrote, “They’ve just increased my rent from 7m to 18m in Lagos. I’m currently confused.”
Dabota Lawson added, “Hmmmmmnn this matter ehhhnnnn. If not because I’m selling cosmetics, I would have shut down and go online. The money I’m using to pay rent I would use it to push my business online and it won’t even cost me half of the lease.”
Juliet Ibrahim commented, “Thanks for speaking up on this very important issue affecting so many businesses and homes. Rent cost.”
Laura Ikeji-Kanu is a Nigerian fashion entrepreneur, beauty business owner, and social media influencer.
She runs the beauty brand LauraBeauty Africa and has a large online following.
