Business

New York Times’ T Magazine: In Lagos, the 1% Takes Stock, “A burgeoning wealthy class is settling into one of Africa’s fastest-growing cities . . .”

“A burgeoning wealthy class is settling into one of Africa’s fastest-growing cities, attracting designers, world-class architects and a growing creative community that seeks to preserve its culture through art and fashion.

The Land Cruisers and Range Rovers began lining up on a steamy Sunday afternoon outside Tafawa Balewa Square long before sunset. The banking tycoon Otunba Subomi Balogun was hosting his 80th birthday party and nobody wanted to be late, and there was also the matter of inching past the press of beggars living in the square’s arcade. Once through a security line, women in gold headdresses and men in white robes disembarked. Balogun lives in a mansion modeled on the White House, furnished entirely in white and gold, and the invitation had asked guests to wear his favorite colors.

Guests sashayed through the tent doors into a scene of surreal opulence. At the far end of the tent, engulfed by servants, courtiers, national politicians and guards with wires in their ears, the celebrant perched beside his wife on a throne covered with white faux fur, his every move broadcast on flat-screens arrayed around the tent walls. From the throne, the founder of the First City Monument Bank (F.C.M.B.) could survey his 1,000 guests, acres of floral arrangements and goldfish ponds brought in for the occasion, and the legion of waiters ferrying Taittinger and Veuve Clicquot and steaming trays of traditional Nigerian stews and rice. Bands and dancers performed in succession, a professional actress emceed and business and blood royalty mingled with state governors and the archbishop of Lagos. Massive cakes, one a replica of Balogun’s columned white house, and one designed to match his white Rolls-Royce, were stationed in front of the head table. . . ”

T Magazine has the full story.

Ladybrille Magazine

Founded in 2007, Ladybrille® Magazine is a California based pioneer digital publication demystifying the image of Africans in the west through contemporary African fashion and celebrating the brilliant woman in business and leadership, with an emphasis on the African woman in the diaspora. Our coverage includes stories on capital, access to markets, expertise, hiring and retention, sales, marketing, and promotions.

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