The Lagos State Government, Persianas Group and the Nigerian Sovereign Investment Authority (NSIA) have announced plans to unveil a groundbreaking 12,000-seat entertainment centre worth $ 100 million.
This was revealed in a ceremony for the proposed 12,000-capacity arena Landmark Event Center, Victoria Island, Lagos, recently. The event was attended by stakeholders, partners, and esteemed Nigerian music artistes among others.
According to the parties involved the Arena will develop ancillary businesses around entertainment and sports and is expected to create over 1500 direct and indirect jobs. It will also be the first of its kind and the epicentre for major entertainment and sporting events in the city.
Commenting on the project, the Chairman of Persianas Group, Tayo Amusan, expressed enthusiasm for the long-awaited Project Arena. In his words, “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 Artists to 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, and UFC among others. This is indeed an exciting time for us all.”
The Chief Executive Officer, of NSIA, Aminu Umar-Sadiq, echoed Amusan’s sentiments, he 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.”
On his part, Chairman and CEO of Oak View Group, Tim Leiweke, emphasised the significance of providing Nigerian artists with a platform to showcase their talents in their home country. He said, “Nigerian artists 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.
“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.”
Construction of the arena has begun and completion is expected in December 2025.
The consortium delivering the project includes the Persianas Group, the NSIA, 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 the Yinka Folawiyo Group, Nigerian investment fund Adino Capital and MBO Capital.
The Arena will also cater to an array of activities, ranging from performances by both global and Nigerian music icons to family entertainment, basketball games, UFC fights, boxing matches, WWE shows, and much more. Its multifunctional layout ensures that it will be a dynamic space accommodating a wide range of events and audiences.
Envisioned to host over 200 events annually, the Arena is poised to emerge as Africa’s premier destination for live entertainment. This ambitious project not only provides a dedicated platform for local and international artists to showcase their talents but also creates exciting opportunities for collaboration and cultural exchange.
As anticipation mounts for the grand opening of this state-of-the-art venue, it heralds a new era for Nigeria’s entertainment industry, promising unparalleled experiences for audiences and artists alike.