Meet 10 Founders of the most expensive restaurants in Lagos
Lagos ranks as the fifth richest city in Africa, and is home to over 50% of Nigeria’s wealthiest people according to Henley & Partners.
With its growing class of high-net-worth individuals, the city has become a hotspot for luxury dining, where fine cuisine thrives regardless of Nigeria’s economic fluctuations.
Home to approximately 5,400 millionaires, 16 centimillionaires, and 3 billionaires, Lagos naturally attracts an ecosystem of high-end restaurants.
Upscale neighborhoods like Victoria Island and Lekki house some of the city’s finest dining establishments, each offering an exclusive culinary experience tailored to a wealthy clientele.
But in Lagos, fine dining is not just about food—it is a statement. From opulent interiors to meticulously crafted menus and top-tier service, these restaurants provide an experience that goes beyond the plate, catering to a discerning audience that values sophistication and status.
This thriving fine dining culture is part of a larger hospitality industry that plays a significant role in Nigeria’s economy. The country’s food industry alone is valued at $209 billion, according to Rushdi Ibrahim, Managing Director of Burger King. He notes that Nigeria’s expanding middle class and growing appetite for global cuisine make it an attractive market for both local and international hospitality brands looking to expand.
In this article, we spotlight 10 founders behind some of Lagos’ most exclusive fine dining establishments—exploring their journeys, their vision, and how their ventures continue to redefine food and luxury in the city.
- Owner: Reni Folawiyo
- Year it started: 2015
- Location: 12A Akin Olugbade St, Victoria Island
- Average Menu Price: N30,000
Reni Folawiyo is a Nigerian entrepreneur, businesswoman, and lawyer who has made significant strides in promoting African fashion, art, and cuisine. She is the founder and CEO of ALÁRA, West Africa’s premier destination for fashion, art, food, design, and culture.
Established in February 2015, ALÁRA is housed in a purpose-built iconic structure on Lagos’ Victoria Island.
- The store is a blend of luxury and culture, showcasing African design, and it has become synonymous with innovation and excellence in the African cultural sphere. “ALÁRA” means “wondrous performer” in Yoruba, embodying the essence of her vision to celebrate African creativity and craftsmanship.
- In addition to ALÁRA, Reni also founded NOK by Alara, a fine-dining restaurant located within the concept store. Launched in 2015, NOK offers a modern reinterpretation of African cuisine, making it a go-to spot for Lagos’ elite and international visitors.
- The average menu price at NOK is typically between N30,000 to N49,000 providing a top-tier dining experience that merges traditional African flavors with contemporary culinary techniques.
Reni serves as a board member for Sparkle Nigeria and The Alternative Bank, furthering her impact on Nigeria’s business and financial sectors.
