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How Can We Survive?” Laura Ikeji Questions Sanwo-Olu On Soaring Lagos Business Costs

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Nigerian fashion entrepreneur Laura Ikeji Kanu has raised alarm over the skyrocketing rental property costs in Lagos State.....KINDLY READ THE FULL STORY HERE▶

In a video shared on Instagram, Laura highlighted that many businesses are quietly shutting down across Lagos due to unaffordable rents.

She pointed out that the rents being demanded today are often equivalent to the cost of an entire house just a few years ago.

Addressing Governor Babajide Sanwo-Olu, she asked what could be done to address the situation.

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Laura said,

“What is happening in Lagos State? Shops are closing quietly. People are leaving their buildings quietly. Not because they are not doing well—they are selling—but the rent in Lagos today is the kind of money we used to buy a four-bedroom duplex in Ajah. That’s what they are charging per year in Lagos.

“For mall shops, Governor Sanwo-Olu, what can we do? How can we save businesses in Lagos? Many of these shop owners cannot easily transition to online business. I actually think they should—if you close your shop, don’t shut down completely. Move online and sell there.

“But as the governor, what can we do? And as the average Lagos entrepreneur or business owner, what steps can we take to salvage this problem?”

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