Most recently Nigeria’s economy was re-based and brought up in value to $500 billion. This is a significant valuation by any standard. Over the past five to ten years, the nation’s economy has been driven by entrepreneurship rather than by the proceeds of oil and rents collected on it. So it must be emphasized that a new economy has been developing within the context of the broader economy and so its impact on the current picture of the nation's economic indices.
The entrepreneurial spirit is the driving force of the new economy. These entrepreneurs are mainly creative, some of them making their mark in the internet and digital economy. Lagos happens to be hub of the new economy where most of these personalities contribute to the process of creating wealth, making money and also reside. Welcome to the world of Lagos's newest middle class.
Organisations such as konga.com, jumia.com, paga.com the payment portal, Linda Ikeji Blog are examples of internet based companies driven by young businessmen and women. Apart from the dotcom businesses there are also photographers, fashion designers, innovators, film producers and directors and of course young corporate leaders. Among the lot one major feature stands out, the returnees. A large proportion of these entrepreneurs were born and raised outside Nigeria, namely in the United States, UK, Canada, France. Having lived most of their lives in these countries, why would they take the risk to leave the comfort of the west to come to Nigeria? Entrepreneurs see opportunities not barriers and being true to their calling have come down to change the landscape of their fatherland.
What differentiates the new middleclass in Lagos from the others is their sophistication, which they are infusing consciously or unconsciously and in the process changing the rhythm of Lagos. The influence of the new middleclass is taking a positive toll on the city of Lagos. It is on record that the city has been categorised as an ‘’emerging economy moving very close to a developed economy’’. This is partly due to the dynamism of the new middleclass.
The physical landscape of the new middle class starts from Ikeja axis on the mainland and stretches southbound towards Surulere and ends in Lekki. This landscape doubles up as their work space and their habitat. Lifestyle for the new middleclass in Lagos is ‘‘red carpet personified’’, what it means is living life that revolves around the media. They recognize and effectively use the media to their advantage, understanding the power of the media.
The new middleclass are not just content with making money and living the good life. They are preoccupied with conquest which is excelling at their vocations and being recognised for such. So getting awards and gongs is like breathing air or drinking water. Courting the media is a way of continuous marketing for the new age entrepreneurs. It places them in a permanent state of consciousness in the eyes and ears of the public, and the market place.
For the new middleclass the work environment is taken very seriously, to them it means giving new definition to the workplace. Ambience makes a whole lot of difference. Starting with the reception area, it gives the visitor a sense of awe and indicates that the host means business. He or she takes the deco and artistic interpretation as an extension of who he or she is. The workplace is a thinking pad for the new middle-class a source of inspiration.
Leisure for them takes the form of private parties, where the who is who in the city meet. The new middle class of Lagos knows the essence and beauty of the arts. As such they patronize the arts in whichever form it appears, so going to the theatre to see plays and other theatre productions makes their routine complete. The resurgence in the arts cannot be separated from the support of the new middle-class through sponsorship and commissioning of the arts. The days of painters, sculptors and engravers seating under the sun all day to sell one or two art works is well behind them, thanks to the new middle-class of Lagos. The talented ones are sought after and the geniuses amongst them are celebrated.
So after visiting the theatre or seeing a good movie at one of Silverbird’s Cinemas and other movie houses, leisure activity also takes the form of eating out at one of the few exclusive diners or restaurants. Joints such as Johnny Rockets has breezed into Lagos doing what it knows doing best, flipping juicy hamburgers. With a double bacon cheese burger selling for N3500 ($22.00) and vanilla milk shake at N1800 ($11.00), the new middleclass do have some dough to burn. Terra Kulture serves authentic Nigerian and African cuisine in a ‘‘very African setting’’. The Asian flavour is also available for the new age middleclass to savour in the name of Metisse. The choice of chic restaurants is endless so the entrepreneurs are spoilt for choice.
Competitive sports also play a part in the life of the new age middle class in Lagos. Anything competitive motivates them. This is somehow interwoven with leisure for instance in the form of motorbike sport, hiking, taekwondo etc. Being driven to the limit throws open to them the option of possibilities. It’s usually an avenue of finding solutions to challenges.
Lagos’s landscape both economically and socially would never be the same again with the advent of the newest set of middleclass. This enigmatic city which has been bestowed on it the economic touch of Nigeria would continue to wax stronger courtesy the ''young guns'' referred to as the Newest Middle class of Lagos.
By: Olugbenga Adebanjo
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