In spite of the huge opportunities in the parking space business in Lagos— Nigeria’s commercial nerve centre—investors still find that segment of economic activities unattractive and unprofitable for investment. As a commercial and large industrial city, Lagos does not have standard and well developed parking lots where car owners could leave their cars and collect same for a fee at the end of the day’s business. The situation is such that even Lagos Island which is the city’s central business district (CBD) is lacking in a standard parking space and, according to authorities of the state, plans by the government to develop malls, leisure parks and other recreational facilities as part of the Lagos Island redevelopment master plan presents immense opportunities for private sector investment in that part of the city.
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