Entrepreneur and social media influencer, Laura Ikeji, has raised concerns over the rising cost of rent in Lagos, saying it is forcing many businesses to shut down quietly.
In a video shared on her Instagram page, Ikeji highlighted the struggles of shop owners who are struggling to pay their rents, even when their businesses are doing well.
“What is happening in Lagos?” she asked. “Shops are closing quietly, people are leaving their buildings quietly. Not that they are not doing well; they are selling. But the rent in Lagos? The kind of money they are charging now is the money we used to use to buy a four-bedroom duplex in Ajah. That same amount is what they are charging per year for small shops.”
Focusing on Lagos, where she runs her businesses in Lekki Phase One, Ikeji questioned what measures Governor Babajide Sanwo-Olu could take to protect small business owners.
She also advised shop owners struggling with rent to consider moving their sales online, but stressed that long-term solutions require government action.
“Governor Sanwo-Olu, how can you save businesses in Lagos?” she asked. “As the governor of the state, what can we do to salvage this problem?”
Tenancy law and government response
The Lagos State Tenancy Law, first introduced in 2011, governs landlord-tenant relations in the state, covering issues such as advance rent payments, agency fees, and rent disputes. In July 2025, the Lagos State House of Assembly introduced a new Tenancy and Recovery of Premises Bill to update the law. The proposed legislation seeks to limit excessive rent demands, regulate estate agents, and provide legal protections for tenants, though it has not yet been passed into law.
The proposed 2025 tenancy bill is expected to address these challenges by placing limits on advance rent payments, regulating agency fees, and clarifying legal rights for both landlords and tenants.
This is not the first time Laura Ikeji has publicly addressed social and economic issues affecting Nigerians. In December, she criticised what she described as greed and overcharging by service providers during the festive season. At the time, she urged Nigerians to stop exploiting “IJGBs” Nigerians in the diaspora who return home for holidays noting that many of them work hard abroad and should not be taken advantage of.
Laura has been a prominent figure in the Nigerian social media space for several years, building a reputation as a lifestyle and fashion content creator before venturing into entrepreneurship.
She also gained wider recognition through her appearance on the reality show Real Housewives of Lagos, which gave her a platform to connect with fans and showcase her business acumen.
