By Gabriel Efe
Detty December has grown into a seasonal economy of its own. Flights, hotels, short-lets, clubs, transport, fashion, events and even food vendors all benefit from the annual influx of visitors and returning Nigerians. In theory, it is a win-win cycle: increased demand fuels business growth, employment rises temporarily, and money circulates rapidly through the local economy.
In practice, however, unchecked greed is turning Detty December into a fragile bubble.
Prices are no longer responding to demand; they are being inflated beyond economic sense. Hotel rates triple overnight without improvements in service. Event tickets are priced as if Nigeria has suddenly become Dubai. Ride fares are arbitrary. Short-let owners charge international rates while offering unreliable power, water and security. The result is not value creation but value extraction.
This behaviour ignores a basic economic truth: demand is elastic. People will pay more up to a point. Once prices feel exploitative rather than premium, behaviour changes. Visitors shorten their stays, reduce spending, attend fewer events or stop coming entirely. Locals are priced out completely. What should be a broad-based seasonal boom becomes a narrow cash grab for a few weeks.
Greed also destroys trust. When consumers feel exploited, they do not return. Detty December relies heavily on repeat visitors, word of mouth and social media hype. Once the narrative shifts from “Nigeria is fun and affordable” to “Nigeria is chaotic and overpriced,” the entire ecosystem suffers.
Ironically, this greed hurts businesses in the long run. Sustainable profit comes from volume, loyalty and reputation, not one-off exploitation. Cities that have successfully built festival or tourism economies understand this. They price fairly, deliver consistent value and plan for longevity.
If current trends continue, Detty December will not collapse suddenly. It will slowly decline. Fewer international visitors. Shorter stays. Lower spending. Less excitement. And eventually, the same businesses chasing quick profits will complain that “Detty December is not what it used to be.”
The truth is simple: Detty December does not need more hype. It needs discipline. Fair pricing, better service, and a long-term mindset. Without these, greed will succeed only in killing the very economy it feeds on.
