Energy and commodities occupiers in Lagos typically cluster in Victoria Island (VI), plan ~240 sqft per seat at trophy fit-out ($640000–950000/sqft), and pay around 80000 NGN/sqft ($60 USD) on Class A.

  • Preferred submarket: Victoria Island (VI).
  • Typical fit-out spec: Trophy ($640000–950000/sqft).
  • Plan ~240 sqft per seat for headcount sizing.
  • Class A rent context: 80000 NGN/sqft ($60 USD).
  • Typical lease: 2 years with 4 months rent-free.
  • Talent depth in Lagos: 74/100.

Energy and commodities office space in Lagos

Energy and commodities occupiers in Lagos typically cluster in Victoria Island (VI), plan ~240 sqft per seat at trophy fit-out">fit-out ($640000–950000/sqft), and pay around 80000 NGN/sqft ($60 USD) on Class A.

TL;DR

  • Preferred submarket: Victoria Island (VI).
  • Typical fit-out spec: Trophy ($640000–950000/sqft).
  • Plan ~240 sqft per seat for headcount sizing.
  • Class A rent context: 80000 NGN/sqft ($60 USD).
  • Typical lease: 2 years with 4 months rent-free.
  • Talent depth in Lagos: 74/100.

Where they cluster

Energy and commodities occupiers in Lagos typically anchor in Victoria Island (VI). Banking, oil and gas (Oando, others), professional services, multinational HQs.

What they pay

Class A rent in Lagos runs 80000 NGN/sqft ($60 USD) on a 2-year lease with 4 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical energy and commodities fit-out targets trophy specification at $640000–950000/sqft. Bespoke design, signature feature, top-tier MEP and acoustic packages are standard.

Headcount sizing

Plan around 240 sqft per seat blended (workstation + circulation + amenity). A 100-headcount energy office in Lagos typically targets 24,000 sqft of leasable area.

Talent angle

Trading floors concentrate in CBD trophy product with redundant power and connectivity; engineering teams scale in suburban energy corridors. Deep banking, oil and gas, fintech, and creative talent. Strong English-language professional base. Strong feed from University of Lagos, Lagos Business School, and Covenant University. Nigeria's tech ecosystem (Flutterwave, Paystack, Andela) anchors deep talent.

Tax and lease context

Headline corporate tax: 30%. USD-pegged or naira leases (USD common for international tenants). 2-3 year terms standard with renewal options. Often payable annually or 6-monthly in advance. Free rent of 3-6 months on a 3-year deal.

Key facts

cityLagos
industryEnergy and commodities
naics211, 212, 523130
preferredSubmarketVictoria Island (VI)
preferredFitoutSpecTrophy
fitoutBand$640000–950000/sqft
sqftPerSeat240
classARentLocal80000 NGN/sqft/yr
classARentUsd$60/sqft/yr
vacancyPct17.6%
typicalLeaseYears2
typicalRentFreeMonths4
talentIndex74
corporateTaxPct30%

Frequently asked questions

Where do energy and commodities occupiers lease office space in Lagos?
Most cluster in Victoria Island (VI). Rent runs ~80000 NGN/sqft ($60 USD) for trophy and prime stock.
What fit-out spec do energy and commodities occupiers run in Lagos?
Typically trophy at $640000–950000/sqft.
How much office space per seat should a energy and commodities occupier plan in Lagos?
Plan ~240 sqft per seat blended. A 100-person team typically takes 24,000 sqft.
What NAICS codes describe the energy and commodities vertical?
Representative NAICS 2022 codes: 211, 212, 523130.
What is the talent index in Lagos?
74/100. Use the city profile for full detail.

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Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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