To be honest, it depends which part of Calicas the villa is in.
In any event, I concur with Cubsur. It is a long walk into town and back after a night out.....especially as there is a substantail climb.
You will have to be prepared to get taxis back or one of you will have to be alcohol free of the night.
BTW I live in Meia Praia 500m from Calicas and am often up there, and have often walked the area! :))))
Unfortunately, the restrictions on these forums does not allow one to post links longer than 140 characters to appropriate maps on Google Maps.
If you go to my blog:
http://barlaventostravelblog.blogspot.com/2008/05/calicas-lagos.html
I have posted an extract from the appropriate google map of the area.
Items 1 & 2 approx indicate the area of Calicas, while item B indicates the centre of downtown Lagos. Walking even via the Marina bridge is at least 2 kms.