LAGOS, Nigeria (CelebrityAccess) — On Saturday, a consortium led by the Persianas Group, and the Nigerian Sovereign Investment Authority, broke ground on a new 12,000-capacity arena in Victoria Island, Lagos, Nigeria that will be managed by the Oak View Group.
The event was attended by representatives from stakeholders and partners, along with local political impresarios, and notable Nigerian musical artists, among others.
The consortium also includes concert promoter Live Nation, Oak View Group, Yinka Folawiyo, Chairman of the Yinka Folawiyo Group, Nigerian investment fund Adino Capital and MBO Capital.
When completed, the arena is expected to host approximately 200 events a year and will anchor Nigeria’s quickly growing live entertainment industry, supporting an estimated 1500 direct and indirect jobs in the region, according to Oak View Group.
Along with the arena, the complex will also include a hotel and parking facilities.
“Project Arena has been a long time coming and it is an honor 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,” stated Tayo Amusan, Chairman, of Persianas Group.
“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,” added Nigerian recording artist Davido.
Following the groundbreaking ceremony, construction of the arena is underway, and completion is expected in December 2025.
