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Showing posts from October, 2017

Victoria Island The Preferred Business District of Lagos? Here Is Why

It’s no secret that, over time, Victoria Island has assumed the top ranking as Lagos’ preferred and foremost business destination; hosting a diverse mix of large corporations, SMEs, indigenous and multinational organisations. Industry analysts attribute part of Victoria Island’s popularity to the decline of Lagos Island.
Analysts observe that the degrading buildings and infrastructure, coupled with congestion and crime rates towards the turn of the last century, led to the flight of businesses from the central business district to more palatable, upmarket locations such as Victoria Island. This, in turn, spurred the gradual commercialization of the neighbourhood.
So why does Victoria Island continue to maintain its top ranking as Lagos’ premier commercial centre? The following observations are instructive.
Economic Dynamism; With its high concentration of both large and small enterprises, multinational organisations, financial institutions, professional services, technology companies and…