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: Sanjay Mahtani (Co-founder)
- Year it started: 2017
- Location: Block XVI 3 & 4, Victoria Island, Oniru Estate
- Average Menu Price: N25,000
Shiro is the brainchild of entrepreneurs Sanjay Mahtani and Jay Singh. Sanjay Mahtani’s journey into the hospitality industry began as a childhood hobby, later evolving into a serious pursuit in 2000 in Bangalore.
- By 2005, this passion culminated in the founding of JSM Corporation, a pioneering venture in India’s hospitality sector, co-created with Jay Singh. Today, Mahtani is at the helm of a company that operates some of India’s most iconic hospitality brands, including Hard Rock Cafe, Shiro, California Pizza Kitchen, and Asilo.
- Before relocating to India in 1994, Mahtani established himself as a successful entrepreneur in Nigeria, running a thriving food and dairy trading business.
- Upon moving to India, he diversified his family’s business portfolio by setting up a sourcing company in Bengaluru. It was at a casual party that the idea for JSM Corporation took root.
Located at Block XVI 3 & 4, Victoria Island, Oniru Estate, Shiro Lagos has established itself as one of the city’s premier fine dining restaurants. With its blend of modern elegance and diverse culinary offerings, the restaurant has become a popular choice for both local and international guests.
Dining at Shiro Lagos comes with a premium price tag, with the average menu price starting at N20,000. The restaurant is open daily from noon, and reservations can be made. Shiro Lagos has received positive feedback from its patrons, maintaining a 4.6/5 rating on Facebook (from 94 votes) and a 4.4/5 rating on Google (from 1,695 reviews).
