Lagos Trade Fair Market Shut Down as Traders Protest 300% Rent Increase, Urge Government Action
Story: written by Okafor Joseph September 30,2025
Business activities were paralyzed on Monday at the popular Trade Fair Market in Lagos as hundreds of traders staged a protest against what they described as an “unjustifiable” 300% hike in shop rents.
The angry traders accused shop agents and landlords of arbitrarily inflating rents in a way that threatens small businesses already struggling under Nigeria’s harsh economic realities.
Carrying placards and chanting solidarity songs, the protesters demanded the immediate reversal of the rent hike and called on the Lagos State Government to step in urgently to prevent a deeper crisis.
“This increase is unbearable. How can rents jump by 300% in this economy? Many of us will be forced out of business if this stands,” one trader lamented.
Another protester said, “The government must intervene. These agents are exploiting us, and if nothing is done, thousands of families will lose their livelihood.”
The protest follows growing public outcry over rising shop and housing rents across Lagos, which many residents say have become unaffordable. Reports have shown similar complaints in other markets and residential areas, with rental costs climbing far above the income levels of most Nigerians.
The Trade Fair traders vowed to continue their demonstration until the government takes decisive action to regulate rents and protect small business operators.
Lagos Reporters will provide updates on the government’s response to the protest and the outcome of negotiations with the traders.
