Popular beauty entrepreneur and social media personality, Laura Ikeji Kanu, has publicly appealed to Lagos State Governor Babajide Sanwo-Olu over what she described as the alarming and unsustainable increase in rent across the state, warning that the trend is placing severe pressure on businesses and residents.
In a strongly worded message shared online, the entrepreneur questioned how small and medium-scale businesses are expected to survive amid rapidly rising rental costs. According to her, rent increments in many parts of Lagos have become excessive, forcing business owners to either scale down operations, relocate, or shut down entirely.
Laura Ikeji Kanu noted that the situation is particularly devastating for entrepreneurs in sectors such as beauty, fashion, retail, and hospitality, where overhead costs are already high due to inflation, unstable power supply, and rising operational expenses. She stressed that rent hikes now pose an even greater threat to business sustainability than other long-standing challenges.
Addressing Governor Sanwo-Olu directly, she asked what practical steps the state government could take to protect businesses and residents from what she described as “unchecked exploitation” by property owners. She called for stronger regulations, better tenant protection policies, and incentives that would encourage landlords to adopt fair and reasonable pricing structures.
Her comments have since sparked widespread conversation online, with many Lagos residents and business owners sharing similar experiences of sudden rent increases that far exceed economic realities. Several respondents echoed her concerns, noting that the rising cost of accommodation and commercial spaces is contributing to job losses, business closures, and an increasing exodus of entrepreneurs from the state.
While Lagos remains Nigeria’s commercial hub and one of Africa’s most vibrant cities, critics argue that soaring rents risk undermining its reputation as a place where businesses can grow and thrive. Laura Ikeji Kanu’s appeal has renewed calls for government intervention, with many urging policymakers to prioritize affordable housing and commercial rent control measures.
As of the time of reporting, the Lagos State Government has not issued an official response to the entrepreneur’s concerns. However, the conversation continues to gain momentum, highlighting a growing demand for solutions that balance urban development with economic survival for residents and business owners alike.
