Lagos Businesswoman Ghada Ogunlesi Faces 380% Rent Jump After Property Overhaul

Nigerian entrepreneur, Ghada Ogunlesi, has disclosed that her business is on the verge of shutting down, attributing this imminent closure to an exorbitant rent increment. Ogunlesi explained that she meticulously saved for half a decade to secure a suitable location for her floral enterprise.

The property she eventually acquired for her operations was described by her as 'rundown.' She invested all her available capital into a comprehensive renovation, transforming the space from floor to ceiling. However, upon the completion of these extensive refurbishments, her landlord abruptly informed her of a rent hike exceeding 380%, without any prior notice. She further elaborated that this significant increase translates to 'many many many millions' of naira.

Consequently, Ogunlesi is now actively searching for a new business location and used the opportunity to caution other entrepreneurs against making substantial investments in rented properties. She vehemently stated, 'Landlords are mistreating, mishandling, and using people.'

Her advice to the business community in Nigeria was explicit: 'ADVICE TO EVERY BUSINESS OWNER IN NIGERIA DO NOT invest in a rental building! Do the basics and have proper agreement to protect yourself. We renovate, we design, we bring customers, we make the place valuable. then landlord take it and send youout. If you MUST rent, please sign a 5-10 year lease. No increase, or increase within normal measures. Put everything in writing.'