Laura Ikeji Calls on Governor Sanwo-Olu to Regulate Lagos Rent
Summary: Nigerian businesswoman Laura Ikeji has called on Governor Babajide Sanwo-Olu to address exorbitant commercial rents. She stated that the situation is forcing many businesses to close, while others are struggling to survive.
Popular Nigerian businesswoman, Laura Ikeji, has called on Lagos State Governor, Babajide Sanwo-Olu, to address skyrocketing shop rents. She warned that the unsustainable costs are forcing many businesses to collapse.
In a video posted on her Instagram account, on Feb. 25, 2026, the entrepreneur explained that rising rent costs are too high, forcing many businesses to struggle to survive. Describing the situation as frustrating, she urged Sanwo-Olu to urgently address the extortionate rent or risk more business closures.
“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,” Laura said, speaking on behalf of small business owners in Lagos.
Furthermore, she mentioned that the two shops she previously rented for ₦4 million and ₦3 million, respectively, have now increased to over ₦16 million and ₦30 million each. She stated that she now pays ₦50 million annually for the two shops.
“I can’t cope, and this is coming from somebody who actually makes money outside of business. Things are so bad,” she said.
She warned Babajide Sanwo-Olu that if he does not regulate rent prices or set up a government department to support struggling businesses with funding, many businesses may be forced to shut down or leave Lagos.
“Since you have refused to regulate the rent in Lagos, maybe you should start giving us money for business,” she added, “So do something!”
