Lagos to get $100m entertainment arena

The $100m, 12 000-seat capacity centre, spearheaded by the Persianas Group and the Nigerian Sovereign Investment Authority (NSIA), is being viewed as a game-changer for a country boasting one of Africa’s most vibrant entertainment scenes.

The consortium delivering the project is also made up of global ticketing company Live Nation and sports and entertainment company Oak View Group, which is behind the Co-op Live arena in Manchester, UK. Nigerian businessman Tunde Folawiyo is also a partner of the project.

According to a statement, the consortium plans to create “a monumental centre for entertainment and sports, with hotel and ample parking space.”

The arena will serve as the home of major entertainment and sporting events in the city. Its versatile design will allow for a diverse range of events including performances by both global and Nigerian music artists as well as family entertainment, basketball games, UFC fights, boxing matches, WWE shows and more.

“‘Project Arena’ has been a long time coming and it is an honour to bring it to life,” Persianas Group chairman Tayo Amusan said during the launch. “This project is monumental in supporting Nigeria’s thriving entertainment and sports industry. A state-of-the-art, music-first arena driven by technology will allow our artists to deliver world-class performances to a home audience, something that has been missing for a long time now ... This is indeed an exciting time for us all.”

The arena is expected to host more than 200 events each year, positioning it as a leading African destination for live entertainment while creating opportunities for both local and international artists. It is also poised to support other businesses around entertainment and sports with the creation of 1 500 direct and indirect jobs. 

“We are excited to be a part of this watershed moment with great potential to reposition the Nigerian entertainment sector,” NSIA CEO Aminu Umar-Sadiq said. “This groundbreaking ceremony is the culmination of extensive planning, collaboration and dedication of all parties involved. We look forward to delivering a world-class facility that will serve as a hub for entertainment, sports and cultural events for generations to come.”

Commenting about the development, Nigerian musician Davido said: “I am excited to hear that work has now started on building the arena in Lagos. This is something that has been missing in the entertainment landscape in Nigeria for a very long time. Building an arena in Nigeria means that artists like me will be able to deliver world-class performances at home to our fans who have supported us through the years.”