According to Olagoke Balogun, for those in retail or manufacturing for retail starting in Lagos, it is highly recommended to refrain from expanding to other cities until achieving at least ₦1 billion in revenue. The reasoning behind this advice is based on extensive experience and knowledge in this field.

Lagos is a goldmine; no other city in Nigeria matches the population density found in Lagos, which is a bustling hub of opportunities. The sales potential is higher in certain neighborhoods in Lagos, such as Lekki, Ikeja, and Surulere, which generate more revenue than entire state capitals. The earning potential in these areas surpasses that of some major cities. Expanding to new locations prematurely will significantly stretch finances, logistics, and operations, resulting in struggling to survive rather than achieving growth. The real profits are in Lagos, where demand, purchasing power, and volume of transactions are concentrated. If a business cannot thrive in Lagos, expansion will not inherently solve business model issues.

He suggests placing less emphasis on cities like Abuja, known for its traditional attire market, or Port Harcourt, where the oil money is no longer as influential. For small to medium enterprises (SMEs) with limited resources, focusing exclusively on Lagos for the next five years is advisable.

The strategy of growing deep before expanding wide is recommended. Dominate the Lagos market first, then consider other cities for expansion. According to him, this strategy will be appreciated in the long run.