Detty December in Nigeria is a time of big spending, with many people spending a lot on celebrations. According to a report by advisory firm MO Africa Company Limited, below are the financial impacts of the events that happened in December. The location in view was Lagos alone.
NIGHTLIFE
NIGHT CLUB – The 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.
Strip Clubs – earned N2.5 billion naira with core Oniru, Ikate, and Lekki Phase 1 topping locations.
Beaches and resorts contributed proportionately as well, accounting for 70% of the N4.5 billion ($2.8 million) earned from recreational activities.
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).
HOSPITALITY – Average places booked – 5,937 with an average rate of N120,000 naira daily with Eko Atlantic and Banana Island taking lead. Projected revenue is N21BN ie 13 Million U.S dollars.
CAR RENTALS – over 1.5BN
