The foundation laying ceremony of ‘The Arena’, a world-class sports and entertainment centre, was recently performed in Lagos by Babajide Sanwo-Olu, the state governor, and John Enoh, the minister of sports development.


The ceremony took place over the weekend at the Palms Mall Lekki, 1 Bisway Street, Maroko, Lekki.

The 12,000-capacity arena project is a partnership between Live Nation, OVG Persianas Group, and the Nigerian Sovereign Investment Authority (NSIA).

It was gathered that a budget of $100 million will be invested in the construction of The Arena, scheduled for completion by December 2025.


Speaking at the flagging-off ceremony, Sanwo-Olu pledged his support towards the completion of the project.

He also praised the creative industry, adding that they “deserve applause from us all”.

“The creative industry story is a pride to us all. Here we have the talent, we have the boldness to take Nigeria to the world. The creative industry deserves applause from us all,” he said.


Tayo Amusan, one of the innovators behind the project, added: “The Arena is not just a venue, but it’s a symbol of Nigeria’s potential and creative spirit”.

“We spend so much money on security. So the most amazing thing about this place for me is that all my customers will be safe. That’s really important.”

Inspired by notable venues such as the London O2 Arena and the X Arena, the large-capacity project aims to host an array of events that are expected to facilitate foreign direct investment (FDI).

These events range from music concerts, festivals, award ceremonies, and even foreign live shows such as UFC and WWE.


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