I have just read a most sensational story about the EFCC saying it is still looking for Bello with a view to arraigning him next Thursday. This afterthought step is most unprofessional for God's sake.

I want to believe that the EFCC's Executive Chairman, Mr Olanipekun Olukoyede, a brilliant lawyer and regulatory compliance consultant who had himself been a former Secretary to the Commission and also Chief of Staff to the then Chairman, Mr Ibrahim Magu, was not aware of this great solecism. It is everywhere on the internet, traditional and social media how the former Kogi State Governor, Yahaya Bello accompanied by his successor, Governor Usman Ododo, voluntarily physically submitted himself to the EFCC's headquarters and waited for over three hours to be interviewed.

Pictures showed that he even met physically with the Chief of Staff to the Chairman, Mr Michael Nzekwe (himself a senior lawyer and experienced investigator), but that he was told to go home; only for the same EFCC to lay siege much later on the Kogi State government lodge in Abuja, allegedly seeking to arrest the same Bello who had earlier in the day voluntarily submitted himself for interrogation. It just does not add up. And it just does not make sense to me at all.

Is it that the EFCC was gravely taken aback by the sudden and unexpected appearance in their office of Bello whom it had been looking for since April this year? Or is it that the Commission felt short-changed and belittled by not having the last laugh, pleasure and self-satiation and glorification of physically arresting, chaining and embarrassing Bello so as to later gloat over it in the public domain?

I do not and cannot understand this curious twist which appears more like a drama movie piece from Baba Sala's Alawada Kerikeri histrionic stable. Why this sensational media trial, a needless warped investigative stratagem devoid of hallowed professionalism which I have condemned over the years? I advise the Chairman, Olukoyede, to immediately investigate his officers over this faux pas and bring them to book for embarrassing the EFCC and subjecting Nigeria's image to the mud before global circles. Yahaya Bello should go to court and defend himself of the allegations against him, whether malicious, false or well founded.

That is the way to go. But the EFCC should also allow Bello have his day in court like other Nigerian citizens under a conducive atmosphere devoid of media trial, harassment and intimidation so as to ensure his fair trial.

Afterall, the Nigerian criminal justice system remains the accusatorial Anglo-Saxon model (where a citizen’s innocence is presumed); as against the Inquisitorial French model (where his guilty is presumed).

This presumption of innocence has been entrenched in section 36 of the 1999 Constitution. A media trial such as we have witnessed since April this year violently detracts and derogates from fair trial as it tars an otherwise innocent accused person with an already guilty paintbrush of shame, odium, obloquy, derision and dehumanization even before he has been arraigned, tried and found guilty by a court of competent jurisdiction. It should NEVER BE.

Former Chelsea midfielder, John Mikel Obi has commended Ademola Lookman for choosing Nigeria over England whilst still at his prime.

Lookman, who was born in England to Nigerian parents, represented the European country at youth level.

The 26-year-old was part of the England squad that won the 2017 FIFA U-20 World Cup.

The winger’s request to represent Nigeria was approved by the Federation of International Football Association (FIFA) in February 2022.

The Atalanta star has quickly established himself as one of the key stars in the Super Eagles.

Lookman, who won the UEFA Europa League title with Atalanta last season is the favourite to win the CAF African Player of the Year award.

Mikel believed the player made the right decision at the right time.

“Players have to wait for a while before they decide they want to represent their African root. I genuinely think it shouldn’t be that way,” Mikel said on BeIN Sports.

“If you have decided where you want to play. If you decide you want to play for England, France or Germany, you have to wait, if you don’t get called up that’s your decision.

“If you are 20-year-old, make your decision, don’t wait until you are 26, 28. Don’t wait until you are past your best and we become a second option.

“I think Ademola Lookman made the right decision to switch quickly to represent Nigeria, and he’s done really well. He played well last season and he’s such a fantastic player.”

[DailyPost]

Actor Jim Iyke has shared a thought-provoking insight into the perception of himself and others, accepting his role as the villain in certain narratives.

In a reflective social media post, Iyke explored the complexity of morality, acknowledging the blurred lines between right and wrong.

Iyke emphasised the importance of standing firm in his values while avoiding unnecessary conflicts with advice to also discern people’s true character

“I’ve grown extremely comfortable being the villain in some people’s stories.
Perhaps too comfortable, I’m afraid.
Many times, the lines between wrong and right blur in these narratives.
I’m happy as always to dispense with my side of it.
“My recourse is to distance myself from the grandstanding and theatrics.

“Sometimes, I’m too quick to build a wall before I compromise my principles and ideologies. It is what forged who i am. It is what inspires what I am to become.
One thing is certain: you must trust people to be who they are.

“Only the unwise are taken by surprise when people are who they are.
It is the only element in the human attribute I trust. Surprise is not my strong suit. I know who I am. The moon will turn red before I am who am not.

“I am light to many. Others, I am what their insecurities amplify. I am hated for it.
I am loved for it. In either instance, I am unapologetically comfortable.

“It’s a consequence of what side of the fence you sit. There’s a BLACK in everyone of us. Choose your side wisely,” he said.

[TheNation]

Singer and activist, Charly Boy, has revealed why he never understood who his late father, Chukwudifu Oputa, was.

He said he and his father, who was a former Supreme Court Justice, had a strained relationship during his (Justice Oputa’s) lifetime due to his (Charly Boy’s) unconformist nature.

The activist explained that though they had a complicated relationship, he picked his traits from lessons he learnt from his late father.

Recounting his relationship with his late father during an interview on the ‘With Chude’ podcast, Charly Boy, said he started revolting at home, and his struggles with authority began when he started questioning his father’s strict rules.

“My thing with the status quo started from the house. I always used to wonder, why should my father be telling us what to do and giving us all these commands. Time to eat, time to pray, time for this and that and I was sick and tired of it.

“I was the one who was whipped the most among my siblings and I was the one that was punished the most because I wouldn’t do what I was asked to do. My father forgot that he was the one who played that in my head, he always used to tell us to query and investigate everything, so I used to have this vocal battle with him all the time.”

He said his nature impacted his relationship with the late Justice Oputa.

“I didn’t understand his methodology and he thought I was this kid from hell that needed to be punished and trashed seriously and I don’t think we liked each other that much until everyone started getting mature and he started getting older. We then started seeing the beauty of our personalities.

“We didn’t agree on anything and I found out that this didn’t enable me to bond with my father. He didn’t know who I was and I didn’t know who the bloody hell he was,” he concluded.

[Punch]

Artistes are normally known for what they do in the music industry, entertaining the audience with their sounds and getting their money from it. But what do they do to make money when they are not in the studio?

Here are eight artistes that have a business or two outside the music scene:

Wizkid

Ayodeji Ibrahim Balogun popularly known as Wizkid is a successful man both in the music industry and outside. Dropping yearly bangers since 2010 but has been under strict criticism of late. The Grammy award winner has hands in Real Estate and property sales, He also owns his own clothing line. 

Don Jazzy

Owner of Mavin Records, Micheal Collins Ajereh, Don Jazzy is big in stature and investing in various things like real estate, a Wi-Fi service called Flobyt, he is also into oil and gas, owns a burger restaurant called Jazzy’s Burger, Micheal owns soap line called Drip Beauty Soap.

Mr Eazi

His business days started before he came into music. Oluwatosin Oluwole Ajibade co-created a shopping platform for electronic gadgets named Obiwezy back in 2014. He further founded Empawa Africa in 2018 and Zagadat Capital in 2021. He is currently married to Temi Otedola, making the bond in 2022.

Zlatan Ibile

Zlatan owns a clothing line, that’s why he is always looking elegant on camera. Omoniyi Temidayo Raphael unveiled his fashion line Zanku To The World in May 2024.

Banky W

Olubankole Wellington is a man of many things: entrepreneur, rapper, writer, artiste, actor, and now a politician. He co-founded a restaurant in 2018 called Sooyah Bistro. He is also into politics.

Davido

David Adeleke is sometimes called Daddy’s Boy with some people believing he lives on his father’s money. But that is far from reality, as the OBO crooner some endorsement deals with top brands like Puma, 1xbet, and other companies. He is also into housing, owns a supermarket and a clothing line. He also invests in cryptocurrencies.

Patoranking

Patrick Nnaemeka Okorie is an entrepreneur launching the Patoranking Foundation granting scholarships and helping businesses across countries in Africa.

2Baba

The legend, Innocent Ujah Idibia who has been making hits for over two decades has hands in real estate and owns a club called Rumours located in Ikeja and Festac.

Vanguard News

The United Kingdom has announced a series of new measures to combat violence against women and girls, including the introduction of Raneem’s Law and the launch of a pilot domestic abuse protection order scheme.

This was contained in a government press release issued on Friday.

‘Raneem’s Law’, which is named after Raneem Oudeh and her mother Khaola Saleem, who were killed by Raneem’s ex-husband, would require police to respond to reports of domestic abuse with urgency.

It will also ensure that victims receive the specialist support and resources they need as quickly as possible.

The pilot domestic abuse protection order scheme which will start in early 2025, will see 999 control rooms equipped with domestic abuse specialists to advise on risk assessments and work with officers on the ground.

According to the release, the specialists will be backed up by dedicated teams to improve how the police respond to domestic abuse calls, including using new technology to respond more quickly such as rapid video response.

Government announced that more domestic abusers will by November onwards, be ordered to stay away from their victims and face tougher sanctions if they fail to comply.

The new orders will cover all forms of domestic abuse including violence, stalking, and controlling behavior.

[Leadership]

The stage is set for an epic political battle in Saturday’s governorship election in Edo State, South-south Nigeria.

Governor Godwin Obaseki will complete his second term on 12 November. He was first elected into office in 2016 on the platform of the All Progressives Congress (APC) but was reelected in 2020 on the platform of the Peoples Democratic Party (PDP).

His switch to the PDP followed his rift with Adams Oshiomhole, the then APC national chairperson and former governor of Edo.

Major candidates

The Independent National Electoral Commission (INEC) cleared 17 candidates for the election, but Tom Iseghohi of the Action Alliance recently withdrew.

However, only three of the 16 remaining candidates are considered major contenders. They are the PDP candidate, Asuerinme Ighodalo, the APC candidate, Monday Okpebholo, and their Labour Party (LP) counterpart, Olumide Akpata.

The election is a three-horse race.

Zoning sentiment

There is no zoning or power rotation arrangement in Edo State. However, many are clamouring for a power shift to the Edo Central District, which has not produced a full-term governor since 1999. Oserheimen Osunbor from the district served for just one year before he was sacked by the Court of Appeal in 2008

On the other hand, the Edo South District has produced a governor for 16 years and the Edo North District for eight years.

On Nigeria’s return to civil rule in 1999, Lucky Igbinedion, from Edo South District, was elected the governor of the state and served between 1999 and 2007 under the PDP platform.

Mr Igbinedion handed over to Mr Osunbor of the PDP, but he was sacked by the appeal court, which declared Mr Oshiomhole as the winner of the 2007 governorship election.

Mr Oshiomhole of the defunct Action Congress of Nigeria(ACN) hails from Edo North District and served two terms from 2008 to 2016. In 2013, the ACN merged with three other legacy parties to form the APC.

In 2016, power returned to Edo South District when the current governor, Mr Obaseki, was elected.

In this Saturday’s election, two of the three major candidates – Messrs Ighodalo (PDP) and Okpebholo (APC) – hail from the Edo Central District. The LP candidate, Mr Akpata, hails from Edo South District, where the incumbent governor also comes from.

Observers say the PDP and the APC intentionally zoned their tickets to the Edo Central District to balance the state’s power rotation and garner votes from the district.

Asuerinme Ighodalo’s chances

Mr Ighodalo, a lawyer, is backed by Governor Obaseki. The PDP

candidate could take advantage of Mr Obaseki’s power of incumbency to win the election.

As the governor, Mr Obaseki controls the political structures of the state’s 18 local government areas, which could give him an advantage in mobilising support for Mr Ighodalo’s victory.

Additionally, Mr Obaseki is expected to leverage his power of incumbency to ward off threats posed by other opponents. The governor also has the financial strength to mobilise support for his party’s candidate’s victory.

Besides Mr Obaseki’s backing, Mr Ighodalo appears to enjoy some good following in the state.

More so, the zoning sentiment favours Edo Central, where the 65-year-old politician hails from, with many arguing that it is the turn of the district to produce a governor.

But Mr Ighodalo faces some challenges.

The PDP candidate comes from Edo Central, the smallest district with the lowest voting strength in the state. The district has five local government areas, and 284,878 (16.49 per cent) Permanent voter cards were collected for the exercise, according to data by INEC.

Also, Mr Ighodalo will share the votes in Edo Central with the APC candidate, Mr Okpebholo, who is also from the district.

Analysts say Governor Obaseki, who comes from the Edo South District, the largest district with the highest voting strength, needs to wield some influence in the district to win votes for the PDP candidate.

However, Edo residents have divided opinions on Mr Obaseki’s performance as governor. A negative perception of the governor’s performance may erode support for Mr Ighodalo in the election.

It needs to be stated that Mr Obaseki’s broken relationship with some PDP leaders who helped him to win reelection in 2020 may work against Mr Ighodalo. For instance, the FCT Minister, Nyesom Wike, helped Mr Obaseki to defeat Mr Oshiomhole’s plan to frustrate his (Obaseki) reelection in 2020. Both politicians have now fallen apart.

Overall, Mr Ighodalo appears to be the strongest contender for the position, with many tipping him to succeed Mr Obaseki.

Monday Okpebholo

Mr Okpebholo, the senator representing Edo Central District, enjoys the backing of Mr Oshiomhole, who appears poised for a rematch of the 2020 governorship race.

In the 2020 poll, Mr Obaseki switched to the PDP from the APC and went ahead to defeat Mr Oshiomhole-backed candidate.

The 2024 APC candidate is expected to benefit from Mr Oshiomhole’s determination to end PDP rule in Edo.

Also, Mr Okpebholo, 54, is backed by “federal might” – a euphemism for the use of government agencies to inappropriately influence votes. The APC is the ruling party at the federal level.

Like the PDP’s candidate, the APC candidate may also rake votes in the election due to the zoning sentiments favouring the Edo Central District.

However, the belief among residents that he was imposed on the party could work against him in the election. Mr Okpebholo clinched the APC ticket through a primary election of confusion and controversies.

Also, unlike the PDP, the APC has not been enjoying huge followership in the South-South. Similarly, Mr Okpebholo’s APC has been accused of being responsible for the biting economic hardship across Nigeria. Voters could use the Edo election to vent their angst on the APC.

In a nutshell, while Mr Okpebholo stands a chance, the APC candidate is more likely to emerge second in the poll.

Olumide Akpata

Mr Akpata is a successful lawyer who rose to become the chairperson of the Nigerian Bar Association. But his involvement in Nigerian politics is limited.

The 51-year-old LP candidate is mainly hoping to capitalise on the support of the supporters of the party’s 2023 presidential candidate, Peter Obi, to succeed Governor Obaseki.

Mr Obi, a former governor of Anambra State, won in many states in the South-South, including Edo, during the 2023 elections.

Although he did not win the presidential election, his strong showing has made the LP a formidable party in Nigeria. But the wave of the Obidient Movement has since faded after Mr Obi lost the election.

Again, Mr Akpata may find himself in the crossfire of a crisis ravaging the LP lately. Some LP leaders had recently announced a caretaker committee for the party, thereby ending the reign of Julius Abure as its national chairperson.

But Mr Abure has rejected the development and accused Mr Obi and others of betrayal. The former national LP chairperson did not participate in Mr Akpata’s campaign for the Saturday poll.

Mr Akpata has another big hurdle to overcome. He comes from Edo South, the same district as Governor Obaseki. Based on zoning sentiment in the state ahead of the poll, Edo Central is favoured to produce a governor.

The LP candidate is unlikely to win the poll, with analysts tipping him to, at best, clinch a third position.

The federal government committee has reached an agreement regarding the consequential adjustment for the payment of the recently approved new minimum wage of ₦70,000 for Nigerian workers.

Naija News understands the committee has come to an agreement regarding a specific option for consequential salary adjustments on the new minimum wage.

It would be recalled that the federal government last week Thursday, inaugurated a 16-member committee on consequential adjustments in salaries, to deliberate on issues arising from provisions of the National Minimum Wage Act, 2024.

The committee was inaugurated by the Head of Service of the Federation, Mrs Didi Walson-Jack. She said the decision by the government became imperative so as to maintain a fair and equitable salary structure for the federal civil servants.

According to her, “There is a need to adjust the salaries of other categories of staffers, taking into consideration the consequential effect of the new minimum wage.

“To implement the provisions of the National Minimum Wage Act, 2024, the Federal Government approved the constitution of a committee on consequential adjustments in salaries comprising 16 members.

“This is made up of eight members each from the Federal Government and Trade Union sides.”

The mandate of the committee is to provide a template for the adjustment of other categories of staffers, taking into consideration the consequential effect of the new minimum wage which increased from ₦30,000 to ₦70,000.

Details later…

[NaijaNews]

Michael Obot found himself at a crossroads after acquiring two four-bedroom duplexes on Olu Akerele Street, off Awolowo Way, Ikeja, with plans to occupy them.

However, his circumstances changed, and the properties sat vacant, leading to mounting maintenance costs.

“I bought these properties to live in, but for some reason, I didn’t move in,” Obot explained.

Faced with the expense of maintaining the duplexes, Obot decided to explore short-term rentals as a solution. Among the various platforms available, he opted for Airbnb, a popular choice for short-term bookings.

“Rather than leave the properties idle or lease them out long-term, I thought Airbnb could help me cover the maintenance costs while earning some profit,” he shared.

Now, two months into hosting, Obot has gained firsthand experience in Lagos’ burgeoning short-term rental market.

This Nairametrics feature explores whether platforms like Airbnb are indeed a smart investment for real estate investors in Lagos, a city where short-term rentals are increasingly seen as an attractive business model.

The growing appeal of short-term rentals   

Short-term rentals have gained popularity due to their flexibility for both hosts and guests. Unlike long-term leases, hosts can adjust availability and pricing based on demand, while guests enjoy personalized options that hotels may not offer.

In Lagos, a bustling hub for business and tourism, short-term rentals are becoming a preferred alternative to traditional hotels, offering more space and privacy.

Many find them to be more affordable, especially for longer stays or larger groups, making this business model attractive for property owners.

How to venture into short-term rentals in Lagos   

Nairametrics spoke to experienced hosts, including Michael Obot and Amb. Badejo Moyosore, Chief Operating Officer of Deity Homes Int’l Limited, for insights on starting a short-term rental business.

Both emphasized the need to first secure a property, whether through purchase, lease, or inheritance. Obot repurposed his duplexes for rentals, while Moyosore convinced his parents to leverage their properties across Lagos.

Obot also registered his business with the Ikeja Local Government, paying N400,000 for certification, and informed the nearest police station for added security.

Both hosts stressed the importance of business registration for credibility. Moyosore went further, obtaining a Special Control Unit against Money Laundering (SCUML) certificate from the Economic Financial Crimes Commission (EFCC)  to operate a corporate account in compliance with anti-money laundering regulations.

Obot, though unaware of SCUML, mentioned that he followed security protocols and Know Your Customer (KYC) checks before opening his corporate account.

Key factors for thriving in Lagos’ short-term rental market 

Location is key to the success of short-term rentals in Lagos. Ikeja thrives due to its proximity to the airport, central location, and entertainment options. Other notable mainland areas include Surulere, Magodo, Festac, Gbagada, and Yaba. On the Island, Lekki, Ikoyi, Victoria Island, and Ajah are popular choices.

Equally important is setting the property to a high standard, with quality finishing, interior decorations, and entertainment options like TV, streaming services, and even games. The aim is to create a homely yet luxurious space for guests.

Hosts must carefully select guests to protect their property. Generally, only two people should occupy each bedroom. For example, a one-bedroom flat should house no more than two guests, while a three-bedroom apartment may accommodate four to five. This prevents overcrowding, which can lead to damage.

It’s also common for hosts to perform KYC checks, requesting valid ID, contact details, and the reason for staying. Both Obot and Moyosore agree this helps ensure the responsible use of the property and adds security.

Setting up a short-term rental can be capital-intensive. Obot mentioned spending about N15 million to furnish his four-bedroom duplex to executive standards, equipped with all the necessary amenities to attract high-end guests.

Pricing strategies for short-term rentals in Lagos 

Amb. Badejo Moyosore explained that he bases his pricing on daily operational costs.

“I break down every expense—whether billed monthly or yearly—into daily figures,” he said.

This includes electricity, cleaning, laundry, security, pay TV and streaming services like DSTV and Showmax. Knowing the daily running cost helps him set prices that allow for-profit while remaining attractive to guests.

Michael Obot agreed with this approach, also factoring in operational costs. He noted that discounts can be offered for extended stays.

“If someone stays longer, a slight discount makes sense,” Obot shared.

Moyosore added that while he owns the five apartments he uses for short-term rentals, those who rent properties for this business must account for daily rent in their pricing. This is an extra cost to consider.

Both hosts also agree on a caution fee of N100,000, which guests must pay before their stay. The fee is refunded after their stay, provided no damages are found. While N100,000 is typical, this amount can vary across properties in Lagos.

For longer stays, such as three months or more, Moyosore may exclude services like DSTV or Netflix.

“I offer a discount, but the guest might cover some extras,” he explained.

Current price ranges for short-term rentals in Lagos 

Pricing for short-term rentals in Lagos depends on several factors. For example, Michael Obot, who owns two four-bedroom apartments in the same neighbourhood, doesn’t charge the same rates for both. For the apartment where he allows parties (with strict rules on sound levels and decorum), he charges N400,000 per day.

However, for regular lodging in that same apartment, the rate is between N250,000 and N300,000 per day. In contrast, his second, more executive apartment, where parties are not permitted, has a flat rate of N350,000 daily. This variation highlights the complexities involved in pricing short-term rentals in Lagos.

Additionally, pricing structures differ between property owners and those renting apartments for short-term stays. Location also plays a significant role. For instance, a one-bedroom apartment on the mainland typically costs between N50,000 and N70,000 per day, whereas the same type of apartment in Ikoyi can go for between N80,000 and N100,000 per day.

Here are the average daily price ranges for short-term rentals in Lagos based on property size:

• 1-bedroom apartment: N50,000 to N100,000 per day

• 2-bedroom apartment: N70,000 to N120,000 per day

• 3-bedroom apartment: N90,000 to N180,000 per day

• 4-bedroom apartment: N250,000 to N450,000 per day

Extended stays could attract discounts, depending on the agreement with the host. However, exceeding the maximum number of guests allowed in the apartment could result in additional charges to cover the extra use of facilities and potential wear and tear.

How to attract guests for short-term rentals in Lagos 

Attracting guests for short-term rentals can be achieved through multiple channels. Some hosts employ the services of agents, similar to those landlords use to find tenants, but these agents focus on short-stay rentals.

Listing platforms like Airbnb, Booking.com, Nigeria Property Centre, Private Property, and Property Pro are also effective. These platforms offer various premium subscriptions that hosts can pay for to boost the visibility of their properties, ensuring they appear in front of potential guests.

While some platforms charge only subscription fees, others, like Airbnb, take a commission on successful referrals made through their platform.

Social media is another powerful tool. Many short-term rental firms pay influencers, particularly on Instagram (and sometimes X (now Twitter)), to promote their properties.

Additionally, referrals from satisfied guests can be a significant source of new bookings, making it essential to offer quality service that encourages repeat business and word-of-mouth promotion.

The user’s perspective: Why guests choose short-term rentals in Lagos 

From speaking with various hosts, it’s clear that guests use short-term rentals for a variety of reasons, ranging from weekend getaways for couples to events like naming ceremonies, traditional marriage introductions, and business meetings.

To gain deeper insights, Nairametrics spoke to some individuals who have used short-term rentals in Lagos, including Ogieva Imaseun.

Imaseun explained that he prefers short-stay accommodations because they offer a more homely feel, giving him greater control over his environment.

“I enjoy the flexibility of cooking whenever I want, which makes feeding cheaper compared to staying in hotels,” he noted.

For him, the kitchen is a significant factor, as it allows him to prepare his own meals at his convenience.

Chibuike Miracle shared a similar experience when he travelled from Port Harcourt to Lagos for his introduction ceremony. Staying in a 3-bedroom short-term rental with his family, Miracle found the space convenient and relatively affordable.

“It was perfect because the family could stay together, plan, and prepare for the big day—something hotels couldn’t provide,” he said.

Privacy and affordability were key factors, allowing his family to have the flexibility and comfort needed during such an important occasion.

Another individual, who preferred to remain anonymous, shared that he uses short-term rentals to spend time with his mistress.

“Hotels don’t give me the privacy I need, and short-term rentals are discreet enough to avoid being found out by my wife,” he admitted, highlighting how the private nature of short-stays is a draw for those seeking seclusion.

Privacy, affordability, and flexibility in location continue to make short-term rentals an attractive option for many in Lagos.

Is Short-term rental a viable investment in Lagos? 

From discussions with hosts, short-term rentals are proving to be profitable ventures in Lagos, with the demand for short-stays on the rise.

Amb. Badejo Moyosore mentioned that his apartments are occupied at least 10 days each month, which he finds satisfactory.

Michael Obot, on the other hand, noted that each of his apartments is booked at least once a week, sometimes more, and this works well for him.

Both hosts advise that for those starting out, keeping a lean staff is essential to manage operational costs. However, for those managing multiple properties, like Moyosore with five apartments, additional help may be required while the host focuses on managerial tasks.

Outlook 

The short-term rental market in Lagos offers property owners the potential for steady profits, with increasing demand from guests seeking privacy, flexibility, and affordability.

However, hosts must consider the operational costs, fluctuating occupancy rates, and the need for consistent property upkeep to remain competitive.

While experienced hosts like Obot and Moyosore have seen success, new entrants should be prepared to manage the risks and expenses that come with this dynamic but capital-intensive business model.

[Nairametrics]

Governor Dapo Abiodun of Ogun State, has endorsed the recently released film “Lisabi,” and tasked theatrical professionals around the country with the important duty of teaching the next generation about the incredible sacrifices made by earlier heroes.

Abiodun stated this when he hosted filmmaker Lateef Adedimeji and his wife, Adebimpe, on Wednesday.

The governor stressed that youths would gain a deeper appreciation for figures like Lisabi when their stories are portrayed on the big screen.

Speaking in an interview after the meeting with the governor, Adedimeji expressed his appreciation for the fruitful conversations and mentioned that the governor had encouraged him and his group to keep delivering powerful tales of historical heroes to theatres for a broad spectrum of viewers.

He revealed plans for a film village and resort centre in Abeokuta, near Ogun State Television, adding that his vision is to ensure that tales of Ogun State’s heroes are filmed within the state itself.

“We are here because Ogun is my state; it is where I am from. We have made a movie that has to do with one of our heroes, ‘Lisabi Agbogbon Akala,’ and it is coming to Netflix on the 27th of September.

“We thought it would be best to have a premiere in Ogun State since it is an Ogun State story. I know that the governor is always ready to support such initiatives and is eager to involve himself with stories that relate to our culture and traditions.

“We have our own film village in Ogun State that we are already building, and we would be willing to seek the government’s support for the film village to see how much we can develop there. This will allow us to bring entertainment from other places into Ogun State, creating a flow of people coming to the film village to see what we have, shoot their own films, and explore what Ogun State has to offer.

“It is high time we established this in Ogun State. There are so many stories we can tell—stories of our heroes. It would not be right to hear that we are shooting the stories of our heroes elsewhere, which is why we are creating our own film village right here, located after OGTV on Mile 6 Road, Ajebo Road,” he said.

[DailyPost]