The Story ⚡
Persianas Group and Nigerian Sovereign Investment Authority Collaborate with Oak View Group and Live Nation to Bring Africa’’s First 12,000 Capacity Arena to Lagos Nigeria by 2025
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The Persianas Group and the Nigerian Sovereign Investment Authority (NSIA) marked a significant milestone with a groundbreaking ceremony for a proposed 12,000-capacity arena in Victoria Island, Lagos, Nigeria.
This momentous event brought together key stakeholders, partners, and esteemed Nigerian music artists to celebrate the commencement of this groundbreaking project. Spearheaded by Tayo Amusan, Chairman of The Persianas Group, and in collaboration with Live Nation and Oak View Group, renowned global entertainment companies, along with other esteemed partners, the consortium aims to create a monumental center for entertainment and sports, complete with hotel facilities and ample parking space.
With Nigeria’s vibrant music scene and a rapidly growing population of over 220 million, the country has long awaited its own dedicated arena.
This $100 million project in Lagos, the commercial hub of Nigeria, is set to fill this gap and become the premier destination for major entertainment and sporting events. The versatile design of the arena will accommodate a diverse range of activities, from global music performances to basketball games, UFC fights, boxing matches, WWE shows, and more.
The arena’s launch is poised to propel Nigeria’s music industry and entertainment landscape to new heights, providing a platform for both local and international artists to showcase their talents.
Moreover, the project is expected to generate over 1500 direct and indirect jobs, further contributing to the growth of Nigeria’s entertainment and sports sectors. With construction underway, the completion of this state-of-the-art facility is anticipated by December 2025, marking a significant milestone in Nigeria’s cultural and entertainment evolution.
Key Background
Founded on November 16, 2015, by Tim Leiweke and his business partner, Irving Azoff, Oak View Group, LLC (OVG) is a prominent American professional sports and commercial real estate firm headquartered in Denver.
Specializing in the management of various sports venues, OVG oversees projects such as the Climate Pledge Arena in Seattle, which was constructed under its supervision. At the helm of the company is Tim Leiweke, serving as its chief executive officer.
Tangent
Lagos, Nigeria, has emerged as a cultural powerhouse in Africa, drawing attention from both local and international audiences for its vibrant entertainment scene. With the unveiling of Africa’s first purpose-built entertainment arena slated for 2025, Lagos is set to solidify its status as a top destination for music, sports, and cultural events on the continent.
The city’s diverse offerings cater to a wide range of tastes and interests, from Afrobeats concerts featuring global superstars to traditional dance performances celebrating Nigeria’s rich cultural heritage. For example, the annual Felabration attracts Afrobeat enthusiasts from around the world, while the Lagos Fashion Week showcases the creativity and talent of African designers on the global stage.
With the addition of the new entertainment complex, Lagos is poised to further enhance its reputation as a dynamic hub for creativity, innovation, and entertainment in Africa.
In Summary
Construction is underway, with an anticipated completion date set for December 2025.
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