Lagos, Nigeria’s leading entertainment hub, experienced a surge in economic activity during the recently concluded “Detty December,” with nightclubs alone generating N4.32 billion ($2.7 million). A report by MO Africa Company Limited highlighted the city’s significant contribution to the country’s hospitality and tourism sectors, which attracted both local and international visitors.
The report analyzed data from November 19 to December 26, revealing that Lagos welcomed approximately 1.2 million tourists. Of this number, 60% were domestic travelers. The influx of visitors was partly attributed to insecurity in southeastern Nigeria, which caused many to prioritize safer destinations in the southwest.
“Most of the arrivals came for leisure and tourism, further lending credence to Lagos’ position as a pole destination for holiday revelers,” the report stated. Apart from Lagos, international visitors also favored Edo, Delta, Ondo, and Ogun states as travel destinations.
The city’s hospitality sector recorded unprecedented growth during the period. Hotels in Lagos generated an estimated N54 billion ($36 million) from 15,000 bookings, while short-term apartment rentals contributed another N21 billion ($13 million) from nearly 6,000 bookings. Short-let apartments charged an average nightly rate of N120,000 ($74.7).
Nightlife proved to be a major driver of revenue, with Lagos’ top 15 nightclubs earning a combined N4.32 billion ($2.7 million). Daily revenues for clubs averaged N360 million ($224,000), with premium tables fetching up to N1.2 million ($746.7) per night. Recreational activities such as visits to beaches and resorts accounted for 70% of the N4.5 billion ($2.8 million) generated during the festive period.
Event centers also saw substantial activity, hosting 1,175 bookings in December and generating N1.2 billion ($804,000). Luxury car rentals experienced a boom, with N1.5 billion ($937,500) spent on 750 bookings. High-end vehicles rented out at daily rates ranging from N200,000 ($124.4) to N2 million ($1,244).
Kayode Omosebi, CEO of MO Africa Company Limited, revealed that his team surveyed hotels, airports, short-let agents, and nightclubs to compile the report. He noted an increasing reliance on cryptocurrency for transactions in Lagos’ hospitality sector.
“Eighty-five percent of conversion to Naira and payments were done through this exchange platform. A number of bookings were done through agents rather than through booking platforms, which speaks to trust concerns and the power-play of agents in the industry,” Omosebi said.
Looking ahead, Omosebi projected that “Detty December” could generate up to $2 billion in foreign exchange by 2026. “The industry is evolving, and we would start seeing niche-focused hospitality and tourism experiences… There’s massive opportunity in bespoke event centers for concerts and shows,” he added.
Lagos’ success during “Detty December” reinforces its status as Nigeria’s entertainment capital. With its vibrant nightlife, thriving hospitality sector, and increasing use of cryptocurrency, Lagos continues to position itself as a premier destination for holidaymakers and a key player in Nigeria’s tourism landscape.
