Nigerian Entertainment Industry to construct World Class Arena in Lagos

Nigerian entertainment industry is constructing World Class Arena in Lagos that will have the capacity to hold the 12,000 people.

Photograph of the Lagos Arena by Nigerian Entertainment Industry
Photograph of the Lagos Arena by Nigerian Entertainment Industry

Nigeria is all set to boost the entertainment industry with the construction of World Class Arena in Lagos. The industry will build an Arena that has the capacity to hold 12,000 people.

Entrepreneur – Tayo Amusan is also investing in the construction of Arena. The serial entrepreneur loves the Nigerian Entertainment Industry because of this he has decided to invest billions of Naira and support the construction of ‘Lagos Arena’ which will be a world-class venue in Lagos.

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As per the sources, the project aims to open up the entertainment industry for international shows and concerts and so that they can also participate and display their talent. The venue will also hold the sports and other major events in Nigeria.

Reportedly, the construction work for the arena has already begun and it is expected to get completed by the year 2025. Building the Arena is something which is worth celebrating.

Photograph of Nigeria Sovereign Investment Authority
Photograph of Nigeria Sovereign Investment Authority

Moreover, the Arena is being built with the fact of uniting Africans which is also a major reason why this Arena is being constructed. The reason makes it a special project that the country ‘Nigeria’ has to complete soon.

Notably, Lagos is a state which is popularly known as the African entertainment capital. It is also known as the home of Afro-beats and is set to get its first world-class infrastructure sponsored by the Live Nation and Oak View Group.

The Arena is a huge project which is proposed by Live Nation in association with the OVG Persianas Group and the Nigerian Sovereign Investment Authority (NSIA).

The State Governor of Lagos – Babajide Sanwoolu was present at the ground-breaking ceremony of the Arena which was held on Saturday, Feb 24, 2024.

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In the world-class project, the Chairman of the Yinka Folawiyo Group – Yinka Folawiyo is involved himself. Nigerian investment fund Adino Capital and MBO Capital are also a part of the project.

Officials at the ground-breaking ceremony of the Lagos Arena
Officials at the ground-breaking ceremony of the Lagos Arena

The Lagos Arena is expected to be capable of hosting 200 events annually including UFC, WWE, boxing championships and basketball events, music concerts, festivals and award ceremonies.

Considering the same, the Chairman and Chief Executive of OVG – Tim Leiweke said that Nigerian artists are some of the most influential celebrities in the world right now and yet they have nowhere to play in their home market.

We want to change that,” said Leiweke. He also mentioned that the consortium is headed by Tayo Amusan who has shown the enormous tenacity and entrepreneurial spirit in getting the project off the ground. “We are proud to be their partner,” said Tim Leiweke.