Businesswoman, Laura Ikeji Kanu, raises alarm over spike in cost of renting of business spaces in Lagos state (video)

Beauty entrepreneur, Laura Ikeji Kanu, has again raised alarm over the rising cost of rent for business spaces in Lagos state and its impact on many small and medium scale businesses in the state.

In a video she posted on her Instagram, Laura stated that if the government is unable to regulate the soaring cost of shop rents in Lagos, it should consider providing financial grant to business owners struggling to stay afloat. According to her, many businesses are shutting down in the state as a result of the skyrocketing cost of rents of busines spaces.

In her video, the businesswoman revealed that she currently pays N50 million annually in rent for her two shops. According to her, both shops were initially rented for N3 million and N4 million each but the rent  have alarmingly increased to N16 million and N30 million. She stated that this is what so many business owners in the state are currently battling.

Some of her followers also left comments on her page recounting how the spike in rent in business spaces is affecting their businesses.

Watch the video she shared below