Beauty entrepreneur Laura Ikeji Kanu has once again raised concerns. About the rising cost of renting business spaces in Lagos State and its impact on small and medium-sized enterprises (SMEs).
In a video shared on her Instagram page, Laura urged the government to take action. She suggested that if authorities cannot regulate the soaring shop rental prices. They should consider offering financial grants to help struggling business owners. She noted that many businesses in Lagos are shutting down due to the skyrocketing cost of renting commercial spaces.
Laura Ikeji also shared her personal experience, revealing that she currently pays N50 million annually for her two shops. Initially, the rents for these shops were N3 million and N4 million. But they have now surged to N16 million and N30 million, respectively. She emphasized that this is a challenge many business owners in Lagos are facing.
Several of her followers echoed her concerns in the comments, sharing how the sharp increase in rental costs has negatively affected their businesses.
