Fashion entrepreneur and social media influencer Laura Ikeji-Kanu has appealed to Lagos State Governor Babajide Sanwo-Olu to urgently address the rising cost of house and shop rents in the state, warning that many businesses are on the brink of collapse.
Ikeji made the call in a video shared on Instagram on Tuesday, saying she was speaking on behalf of businesswomen and small business owners across Lagos who are struggling to keep up with constant rent increases.
“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.
Describing the rent situation as “unbearable,” Ikeji revealed that she currently pays over ₦30 million annually for two shop spaces — one costing ₦30 million and another ₦16 million — despite initially renting both at far lower rates.
According to her, one shop increased from ₦4 million to ₦8 million, then to ₦13 million, and now ₦16 million. The second shop reportedly jumped from ₦3 million to ₦8 million, then ₦16 million, and is now ₦30 million.
“I can’t cope, and this is coming from somebody who actually makes money outside business,” she said. “Things are so bad.”
Ikeji warned that if rent hikes continue unchecked, many entrepreneurs may be forced to shut down or relocate outside Lagos.
“You will not have any business in Lagos soon because a lot of people would have to move out of Lagos,” she added.
She urged the state government to either regulate rent prices or create a 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 said.
The entrepreneur also disclosed that she may not be able to afford the current rent next year, leaving her with limited options such as building her own space or shutting down operations entirely.
Her comments have sparked reactions from other celebrities and business owners. Actress Wofai Fada wrote, “They’ve just increased my rent from 7m to 18m in Lagos. I’m currently confused.”
Beauty entrepreneur Dabota Lawson added that she would have moved fully online if not for the nature of her business, while actress Juliet Ibrahim thanked Ikeji for speaking up on an issue affecting many homes and businesses.
Laura Ikeji-Kanu is a Nigerian fashion entrepreneur, beauty business owner, and influencer. She runs the beauty brand LauraBeauty Africa and has a strong online presence.
