Quilox management praises Moniepoint report on Nigeria’s nightlife economy

A new industry report released by financial technology company Moniepoint has placed Quilox among the leading revenue generators in Nigeria’s nighttime economy, which the report values at approximately ₦900 billion in annual transactions, figures from the data have shown.

The Moniepoint Nightlife Transaction Report, which aggregates payment data across entertainment venues, bars, restaurants, and event spaces nationally, provides one of the most comprehensive data-driven analyses of Nigeria’s after-dark economy to date. It identifies Victoria Island’s entertainment corridor, where Quilox is the dominant luxury venue, as the single highest-grossing nightlife district in the country by per-capita transaction value.

Quilox’s management acknowledged the report’s findings and cited the data as validation of the brand’s long-standing positioning as a premium asset in the Nigerian entertainment landscape. The club declined to disclose specific revenue figures but confirmed that its VIP table economics, which involve mandatory minimum spends running into hundreds of thousands of naira per reservation, are consistent with the upper tier of the market as defined by the Moniepoint data.

‘The report confirms what we have always known: Nigerian nightlife is serious business,’ said a Vibe Tribe Entertainment official commenting on the Moniepoint findings. ‘And at the top of that business, Quilox is where the numbers are.’

The ₦900 billion valuation represents a significant revision upward from earlier informal estimates of the nighttime economy’s scale and reflects the growing formalisation of payment infrastructure at Nigerian entertainment venues. The widespread adoption of point-of-sale terminals and digital payment systems accelerated by the 2023-naira redesign policy — has made it possible for researchers to capture transaction data that was previously untraceable.

Industry analysts noted that the Moniepoint figures, while comprehensive for the formal sector, likely undercount the full scale of Nigeria’s nightlife economy, as a significant proportion of transactions at smaller venues and informal event spaces still occur in cash. The ₦900 billion figure, they suggested, is more likely a floor rather than a ceiling.

For Quilox, the report’s timing coincides with the brand’s Season 13 relaunch and its expansion of revenue streams through Q Studio’s streaming and licensing operations and the Quilox Nightlife Institute’s accreditation bid. The brand’s management has been explicit in framing Quilox not merely as a club but as a multi-dimensional entertainment enterprise — a positioning that the Moniepoint data broadly supports.

Quilox was founded in 2013 by Shina Peller, the former Federal lawmaker and entertainment entrepreneur, and has since grown into what its current management describes as a multi-billion-naira asset. Chief Operating Officer Akinlabi Abiola-Peller, who oversees the brand’s financial systems and compliance architecture, is credited by company leadership with building the operational infrastructure that enables Quilox to function at the revenue levels reflected in the Moniepoint data.