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Olugbemi. Adeyinka Ogunleye
3 weeks ago
Overview
Lagos nightclubs made N4.32b during Detty December Report
Nightclubs in Nigeria’s commercial nerve centre, Lagos State, reportedly smiled to the bank in December 2024, raking in no less than N4.32 billion ($2.7 million)from different activities during the Detty December period. The figure was revealed in a report by advisory firm, MO Africa Company Limited, which analysed data from November 19 to December 26, 2024, focusing on Lagos State, which is arguably Nigeria’s go-to entertainment hub.
MO Africa noted how Lagos state’s vibrant hospitality and tourism sectors attracted travellers from across the globe. According to the report, Lagos alone welcomed an estimated 1.2 million tourists, of which 60% were domestic travellers. “This surge was partly attributed to insecurity in southeastern Nigeria, which prompted many to prioritise the safer southwestern states,” the report read. “Most arrivals came for leisure and tourism, further lending credence to Lagos’ position as a prime destination for holiday revellers. “Preferred destinations in Nigeria for visitors coming from abroad included Lagos, Edo, Delta, Ondo, and Ogun states.”
The report added that the influx of visitors drove record-breaking revenue across multiple sectors, with hotels in Lagos said to have generated earnings of N54 billion ($36 million) from 15,000 bookings in December 2024. It stated that short-term apartment rentals added another N21 billion ($13 million) from nearly 6,000 bookings. Short-let apartments charged an average nightly rate of N120,000 ($74.7). “Nightlife was another standout sector, with Lagos’ top 15 nightclubs generating a combined N4.32 billion ($2.7 million). Daily revenue for clubs averaged N360 million ($224,000), with premium tables fetching up to N1.2 million ($746.7) per night,” the report read.
“Beaches and resorts contributed proportionately as well, accounting for 70% of the N4.5 billion ($2.8 million) earned from recreational activities.”
Event Centers and Luxury Rentals
Event centres hosted 1,175 bookings in December, yielding N1.2 billion ($804,000). Meanwhile, luxury car rentals saw a boom, with N1.5 billion ($937,500) spent on 750 bookings. High-end vehicles commanded daily rates ranging from N200,000 ($124.4) to N2 million ($1,244).
Credit: Guardian
