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A consortium led by the Persianas Group and the Nigerian Sovereign Investment Authority (NSIA) held a groundbreaking ceremony for a 12,000-capacity arena in Victoria Island, Lagos, Nigeria. The project involves key partners such as Live Nation, Oak View Group, and several Nigerian business figures. The arena aims to become a focal point for entertainment and sports in Nigeria, filling a gap in the country's vibrant music scene and providing a venue for various events, including concerts, sports games, and more. The project is expected to create over 1500 jobs and significantly impact Nigeria's music and entertainment industry. Nigerian superstars like Burna Boy, Wizkid, and Davido have expressed excitement about the development. The consortium plans to complete the arena by December 2025.
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