Lagos To Get An Entertainment Arena Worth $100M

After a historic ceremony on Victoria Island, Lagos, on February 26, Nigeria is about to open its first entertainment arena designed specifically for the purpose. Stakeholders in the Nigerian entertainment business as well as musicians were present at the event.

For a nation with one of the liveliest entertainment scenes in Africa, the $100 million, 12,000-seat capacity center, led by the Persianas Group and the Nigerian Sovereign Investment Authority (NSIA), is seen as a game-changer. Together with Oak View Group, a sports and entertainment firm that owns the Co-op Live arena in Manchester, UK, Live Nation, a global ticketing company, is part of the partnership executing the project.

Another project partner involved is Nigerian businessman Tunde Folawiyo. The partnership intends to build “a monumental centre for entertainment and sports, with hotel and ample parking space,” according to a statement. The city’s main venue for entertainment and sports events will be the arena.

Due to its adaptable architecture, a wide variety of events will be possible, such as family entertainment, basketball games, boxing matches, UFC fights, WWE shows, and performances by international and Nigerian musicians.

More than 200 events are anticipated at the arena year, establishing it as one of Africa’s top live entertainment destinations and presenting chances for both domestic and foreign performers. It is also well-positioned to generate 1,500 direct and indirect jobs, which will help other entertainment and sports-related enterprises.

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