Popular studio, Newage Studio, has announced the closure of its physical studio location in Satellite Town, Lagos, following a repeat burglary incident that resulted in significant losses.
The studio disclosed that criminals broke into the facility on May 19, carting away valuable equipment and property used for its creative operations.
According to the management, items reportedly stolen during the incident included CCTV equipment, monitors, air conditioning units, and personal devices.
The latest burglary is said to be one of several security challenges experienced at the location, prompting the business to take the difficult decision to discontinue operations from the physical facility.
In a statement announcing the development, Newage Studio said the repeated security breaches and resulting losses made it increasingly difficult to continue operating from the premises.
The closure marks a significant shift for the creative brand, which has served content creators, photographers, videographers, entrepreneurs, and other creative professionals within the Festac and Satellite Town axis.
Following the incident, the studio revealed that it would transition to a fully mobile operating model, allowing it to continue serving clients without maintaining a permanent physical location.
The development has sparked conversations among residents and business owners within Satellite Town and surrounding communities about security concerns affecting small businesses and creative enterprises.
Many business operators say recurring theft incidents and rising operational costs continue to pose challenges for entrepreneurs across parts of Lagos, forcing some businesses to adopt alternative operating models.
While Newage Studio has assured clients that its services will continue through its new mobile structure, the closure of its physical location underscores the growing impact that security challenges can have on local businesses.
As of the time of filing this report, no information had been released regarding arrests or recovery of the stolen items.