Nigeria, with its young and rapidly growing population of over 220 million
and a vibrant music scene, has never had its own dedicated arena.
This is about to change with the proposed $100 million arena in Lagos – the
commercial nerve centre of Nigeria. The arena will be the first of its kind
and will serve as a home for major entertainment and sporting events in the
city.
In this wise, a consortium led by Persianas Group and Nigerian Sovereign
Investment Authority (NSIA), has teamed up with Oak View Group and
Live Nation to erect the 12,000-capacity arena in Victoria Island, Lagos.
The consortium delivering the project includes Tayo Amusan, chairman of
Persianas Group, Nigerian Sovereign Investment Authority, Live Nation, the
world’s leading live entertainment company, and global sports and
entertainment company, Oak View Group, which is behind the £365 million
co-op live arena in Manchester, UK.
Other partners include Yinka Folawiyo, chairman of Yinka Folawiyo Group,
Nigerian Investment Fund, Adino Capital, and MBO Capital. The
consortium plans to create a monumental centre for entertainment and
sports, with hotel and ample parking space.
The arena’s versatile design will allow for a diverse range of events
including performances by both global and Nigerian music artistes, family
entertainment, basketball games, UFC fights, boxing matches, WWE shows
and so much more.
With aspirations to host more than 200 events each year, the arena is
positioned to emerge as Africa's leading destination for live entertainment.
As such it will offer a dedicated space for entertainment and creates exciting
opportunities for both local and international artists.
Furthermore, it will usher a significant time in the country’s music industry
and overall entertainment landscape thereby catalysing the continued
expansion of Nigeria's thriving music, sports and entertainment sector.
Additionally, the arena will develop ancillary businesses around
entertainment and sports as it is expected to create over 1,500 direct and
indirect jobs.
Nigerian superstars Burna Boy, Wizkid and Davido are leading the way as
Afrobeats continues to top global charts. In 2023, Burna Boy became the
first African artiste to ever headline sold-out stadium shows in the UK and
US, while Wizkid became the first African artiste to headline a major stage
with Davido selling out the UK’s O2 for the third time.
Speaking, Tayo Amusan said: “Project Arena has been a long time coming
and it is an honour to bring this project to life. 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 artistes deliver
world-class performances to a home audience, something that has been
missing for a long time now. Beyond music, the arena will also serve as a
home for major sporting events including basketball games, UFC among
others. This is, indeed, an exciting time for us all.”
On his part, Aminu Umar-Sadiq, CEO, Nigerian Sovereign Investment
Authority, said: “We are excited to be a part of this watershed moment with
great potential to re-position the Nigerian entertainment sector. 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”.
Also commenting, Davido stated: “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 artistes like me will be able to
deliver world-class performances at home to our fans that have supported us
through the years.
John Reid remarked, “We are incredibly excited to be part of the consortium
delivering this groundbreaking arena in Lagos. Nigeria and Africa more
broadly present massive opportunities to touring artistes when it comes to
connecting with their global audiences.
“This brand new 12,000 capacity venue will open up Nigeria to international
stars, and Nigerian artistes will benefit hugely from having an arena to
showcase their talents in front of a home audience.”
President, Live Nation EMEA, noted: “Nigerian artistes are some of the
most influential in the world right now and yet they have nowhere to play in
their home market. We want to change that.”
Chairman, Oak View Group and CEO, Tim Leiweke said, “This consortium,
headed by Tayo Amusan, has shown enormous tenacity and entrepreneurial
spirit in getting this project off the ground and we are proud to be their
partner. The arena will also give major brands – both global and local – the
chance to showcase to Nigerian audiences for the first time at over 200
electrifying events per year.”
The construction of the arena will be completed in December 2025.