An evaluation of gentrification and small business displacement in Victoria Island Local Government Area, Lagos State
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- NGN 5000
Background of the Study
Gentrification, characterized by urban redevelopment and rising property values, has a profound impact on local communities and small businesses. In Victoria Island Local Government Area, Lagos State, the influx of high-income residents and upscale developments has led to significant changes in the urban fabric. While gentrification can revitalize neighborhoods and boost economic activity, it often results in the displacement of long-standing small businesses that struggle to cope with increased operating costs and shifting consumer demographics (Olu, 2023). This study examines the complex dynamics of gentrification and its impact on small business sustainability. It explores how redevelopment initiatives and rising property rents contribute to the closure or relocation of local enterprises (Babatunde, 2024). The research analyzes socioeconomic data, urban policy reforms, and business performance indicators to understand the balance between economic growth and community displacement, offering insights into mitigating adverse effects while promoting inclusive urban development (Ademola, 2025).
Statement of the Problem
Small businesses in Victoria Island are increasingly vulnerable to displacement due to gentrification. Rising property rents, increased operational costs, and changing consumer demographics have led to closures and relocations, undermining the local economic ecosystem (Ogun, 2023). The existing urban redevelopment policies do not adequately address the needs of small business owners, creating an imbalance between economic growth and community sustainability. This study seeks to identify the specific challenges of gentrification that lead to small business displacement and to propose measures to mitigate these adverse impacts, ensuring balanced urban development.
Objectives of the Study:
To evaluate the impact of gentrification on small business displacement in Victoria Island.
To analyze the contributing factors to business closures due to urban redevelopment.
To recommend strategies for balancing economic growth with small business sustainability.
Research Questions:
How does gentrification influence small business operations in Victoria Island?
What factors contribute most to small business displacement?
What policy measures can support small business sustainability amid urban redevelopment?
Research Hypotheses:
H1: Gentrification has a negative impact on small business sustainability.
H2: Rising property rents significantly contribute to business displacement.
H3: Inclusive urban policies can reduce the adverse effects of gentrification.
Significance of the Study
This study is significant as it examines the interplay between gentrification and small business displacement in Victoria Island. The insights gained will assist policymakers and community stakeholders in developing strategies that foster inclusive growth and protect local businesses, ensuring sustainable urban development (Balogun, 2025).
Scope and Limitations of the Study:
This study is limited to the evaluation of gentrification and its impact on small business displacement in Victoria Island Local Government Area, focusing solely on urban redevelopment and related economic effects.
Definitions of Terms:
Gentrification: The process of urban redevelopment leading to increased property values.
Small Business Displacement: The forced relocation or closure of local enterprises.
Victoria Island Local Government Area: The administrative region in Lagos State where the study is conducted.
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