Arena Market: Nigeria

The domestic market dominates the concert scene in Africa’s most populous nation – and it’s no surprise, with stars such as Burna Boy, Wizkid, and Davido now seeing significant success around the world.

But indoor arenas have been lacking, with artists at this level performing at hotel complexes such as Eko Convention Center (6,000) and Balmoral Convention Center (4,500) in Lagos. Also in the city is Livespot Entertarium, owned by multifaceted creative solutions company Livespot. It comprises two merged 3,700sqm, 12m-high complexes creating a purpose-built event arena with audio and TV studios, rehearsal studios, conference and meeting rooms, and more. Larger than the Eko Convention Center, its multifunctionality means it’s the largest indoor facility in Nigeria.

However, this is all set to change with the nation’s first purpose-built arena due to open in Lagos at the end of 2025. The $100m venue is expected to have a capacity of 12,000 and will host around 200 events a year including concerts, family entertainment, basketball games, UFC fights, boxing matches, WWE shows, and more.

“Nigerian artists are some of the most influential in the world right now and yet they have nowhere to play in their home market”

It is being built by a consortium including Live Nation, Oak View Group, Tayo Amusan (chairman of real estate company the Persianas Group), the Nigerian Sovereign Investment Authority, Yinka Folawiyo (chairman of the Yinka Folawiyo Group), Nigerian investment fund Adino Capital, and MBO Capital.

“Nigerian artists are some of the most influential in the world right now and yet they have nowhere to play in their home market,” Oak View Group chairman and CEO Tim Leiweke said when the venue was announced in February. “We want to change that. This consortium, headed by Tayo Amusan, has shown enormous tenacity and entrepreneurial spirit in getting this project off the ground, and we are proud to be their partner. The arena will also give major brands – both global and local – the chance to showcase to Nigerian audiences for the first time at over 200 electrifying events per year.”

John Reid, president of Live Nation EMEA, added: “We are incredibly excited to be part of the consortium delivering this ground-breaking arena in Lagos. Nigeria and Africa more broadly present massive opportunities to touring artists when it comes to connecting with their global audiences. This brand- new 12,000-capacity venue will open up Nigeria to international stars, and Nigerian artists will benefit hugely from having an arena to showcase their talents in front of a home audience.”