Nigerian fashion entrepreneur Laura Ikeji Kanu has spoken out over the steady increase in shop rents across Lagos State, saying the situation is forcing many business owners to shut down quietly.
In a video shared on her Instagram page, Laura explained that several shops are closing not because sales are poor, but because the cost of rent has become too high to manage.
She said many traders are abandoning their spaces without noise as landlords continue to raise prices beyond what small and medium businesses can afford.
According to her, the amount now charged yearly for shop rent is almost the same money people used to buy houses some years ago.
She noted that even mall shops are affected, with business owners struggling to keep up despite still selling their products.
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Laura questioned the Lagos State Governor, Babajide Sanwo-Olu, over the growing problem and asked what steps could be taken to help businesses survive.
She expressed concern that if nothing is done, more entrepreneurs may be pushed out of the state.
She also advised shop owners to consider selling online, explaining that moving to digital platforms could help some businesses stay afloat.
However, she added that not every trader can easily switch to online sales, especially those whose businesses depend on physical presence.
The entrepreneur stressed the need for cooperation between the government and business owners, saying urgent action is needed to prevent further losses and protect Lagos as a center for trade and entrepreneurship.
