Lagos nightclubs have reported impressive earnings of N4.32 billion during the festive season known as Detty December, marking a significant boost in the city’s nightlife economy.
A new report by advisory firm MO Africa Company Limited analysed data from November 19 to December 26, highlighting how the city’s vibrant hospitality and tourism sectors attracted travelers from across the globe.
Lagos alone welcomed an estimated 1.2 million tourists, of which 60% were domestic travelers.
This surge was partly attributed to insecurity in southeastern Nigeria, which prompted many to prioritise the safer southwestern states.
Most arrivals came for leisure and tourism, further going on to lend credence to Lagos’ position as a pole destination for holiday revelers.
Preferred destinations in Nigeria, for visitors coming from the abroad, included Lagos, Edo, Delta, Ondo, and Ogun states.
Hospitality Boom
The influx of visitors drove record-breaking revenue across multiple sectors with hotels in Lagos reported to have generated an earning of N54 billion ($36 million) from 15,000 bookings in December. 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.
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 centers 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).
Kayode Omosebi, CEO of MO Africa Company Limited, says his team surveyed hotels, airports, short-let agents, and nightclubs to compile the data.
Omosebi noted the increasing reliance on cryptocurrency 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.”
Looking ahead, Omosebi projected that ‘Detty December’ could bring in 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 said.
What you should know
Detty December (“detty” is a playful corruption of “dirty”) is a lively celebration of music, culture, and good vibes that has grown in popularity over the years.
It began during the holiday season when many people from the Nigerian diaspora returned home, with the trend gaining momentum in 2018 after Ghana’s “Year of Return” campaign encouraged people to visit their ancestral roots.
Over the last five years, it has become an international event, attracting many “IJGBs” (I Just Got Backs) and their friends, eager to relax and enjoy after a busy year abroad.
For many Nigerians living outside the country, Detty December is a special time to reconnect with their roots, traditions, and families while experiencing the lively energy of Nigerian culture. The entertainment scene thrives during this time, offering unforgettable experiences and drawing large crowds eager to soak in the local culture.
Beyond the parties, Detty December also showcases Nigeria’s rich culture, with everything from traditional foods to Afrobeats music and the return of Y2K fashion, often inspired by Nigeria’s Nollywood movie industry.
More than just a festive season, Detty December has become a movement that brings people from all walks of life together to celebrate African excellence. It highlights West Africa, and particularly Lagos, as a global cultural powerhouse, symbolizing Nigeria’s growing influence on the world stage.
