{"id":59279,"date":"2025-01-09T14:41:50","date_gmt":"2025-01-09T14:41:50","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=59279"},"modified":"2025-01-09T14:41:50","modified_gmt":"2025-01-09T14:41:50","slug":"lagos-nightclubs-raked-in-n4-32bn-during-detty-december-report","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/01\/09\/lagos-nightclubs-raked-in-n4-32bn-during-detty-december-report\/","title":{"rendered":"Lagos Nightclubs Raked in N4.32bn During \u2018Detty December\u2019 \u2013Report"},"content":{"rendered":"<p><strong>By Patrick Idowu<\/strong><\/p>\n<p>Lagos, Nigeria\u2019s entertainment capital, witnessed a booming nightlife economy during the 2024 &#8216;Detty December&#8217;, with nightclubs alone generating a staggering N4.32 billion ($2.7 million), according to a report by MO Africa Company Limited.<\/p>\n<p>The report, covering November 19 to December 26, highlights Lagos\u2019 dominance in Nigeria\u2019s hospitality and tourism sector, attracting an estimated 1.2 million tourists, of which 60% were domestic travelers.<\/p>\n<p>Increased insecurity in southeastern Nigeria was a key factor in the shift towards southwestern states, particularly Lagos.<\/p>\n<p>Hotels in Lagos earned N54 billion ($36 million) from 15,000 bookings, while short-term apartment rentals added N21 billion ($13 million) from 6,000 bookings.<\/p>\n<p>The average nightly rate for short-let apartments stood at N120,000 ($74.7).<\/p>\n<p>Nightlife thrived, with Lagos\u2019 top 15 nightclubs generating N4.32 billion ($2.7 million).<\/p>\n<p>Premium tables fetched up to N1.2 million ($746.7) per night, while daily club revenue averaged N360 million ($224,000).<\/p>\n<p>Beaches and resorts also saw a surge, accounting for 70% of the N4.5 billion ($2.8 million) earned from recreational activities.<\/p>\n<p>Event centers hosted 1,175 bookings, yielding N1.2 billion ($804,000), while luxury car rentals brought in N1.5 billion ($937,500) from 750 bookings.<\/p>\n<p>High-end vehicles commanded daily rates between N200,000 ($124.4) and N2 million ($1,244).<\/p>\n<p>MO Africa CEO Kayode Omosebi noted the growing reliance on cryptocurrency for transactions, revealing that 85% of currency conversions and payments were made through crypto exchange platforms.<\/p>\n<p>Additionally, most bookings were done through agents rather than online platforms, reflecting trust concerns and the power of intermediaries in Lagos\u2019 tourism industry.<\/p>\n<p>Looking ahead, Omosebi predicts that \u2018Detty December\u2019 could generate up to $2 billion in foreign exchange by 2026 as Lagos cements its status as West Africa\u2019s premier holiday destination.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Patrick Idowu Lagos, Nigeria\u2019s entertainment capital, witnessed a booming nightlife economy during the 2024 &#8216;Detty December&#8217;, with nightclubs alone generating a staggering N4.32 billion ($2.7 million), according to a report by MO Africa Company Limited. The report, covering November 19 to December 26, highlights Lagos\u2019 dominance in Nigeria\u2019s hospitality and tourism sector, attracting an [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":59288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[179],"tags":[],"class_list":["post-59279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/59279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=59279"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/59279\/revisions"}],"predecessor-version":[{"id":59280,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/59279\/revisions\/59280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/59288"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=59279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=59279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=59279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}