A new report by TAG by Oui Capital, titled “Off the Charts: The Afrobeats Export Economy,” has revealed that Lagos’ nightlife economy generated an estimated ₦2.9 trillion in 2025, almost double the ₦1.49 trillion recorded in 2024.
According to the report, the remarkable growth reflects the expanding global influence of Afrobeats and Nigeria’s entertainment industry. It noted that spending now goes far beyond concerts, with significant revenue coming from hotels, restaurants, bars, clubs, transportation and tourism.
The study also found that Detty December 2025 contributed an estimated ₦396.5 billion to Lagos’ economy within just 55 days, reinforcing the festive season’s importance to businesses across the state.
One of the report’s key findings is that ticketed concerts are no longer the biggest source of revenue during the holiday season. While concerts and music festivals generated about ₦50 billion, spending at restaurants, nightclubs, bars and other entertainment venues reached approximately ₦171 billion—more than three times the income from event ticket sales.
The report further revealed that diaspora visitors played a major role in driving the festive economy. Although they accounted for only 11% of attendees during Detty December, they were responsible for 55% of total spending, highlighting their significant economic impact.
Despite the sector’s rapid growth, TAG noted that Nigeria still lacks an official framework for measuring the full economic value of Lagos’ nightlife industry. The findings were based on the company’s independent field research, market analysis and proprietary economic modelling.
