Tayo Amusan Ramps Up Work On $100m Lagos Arena

FUNSHO AROGUNDADE

Billionaire businessman Tayo Amusan’s journey as an entrepreneur is far from over. The Chairman of Persianas Group —a conglomerate with diverse subsidiaries in real estate and retail business— is always setting his sights on new horizons and pursuing opportunities for growth and expansion.

Amusan has become a true icon in the entrepreneurial landscape, shaping industries and leaving an indelible mark on Nigeria’s business scene. His vision for the future entails further diversification, both within Nigeria and across international markets.

The Ogun State-born billionaire aims to create lasting legacies, not only in the business world but also in the realms of art, culture, and philanthropy. He envisions a future where his contributions would have a lasting impact on society and inspire generations to come. One of such was his decision to create and invest in Africa’s first purpose built entertainment and sports arena of international standard where major events like concerts can be held. In early 2024, Amusan’s Persianas Group and the Nigerian Sovereign Investment Authority —an independent investment institution of the Nigerian federation —performed a groundbreaking ceremony for the $100 million 12,000-capacity monumental indoor centre for entertainment and sports, with a hotel and ample parking space in Lagos, Nigeria.

According to Amusan, Nigeria with its young and rapidly growing population of over 220 million and a vibrant music scene has never had its own dedicated Arena.  He decided to change the course of history with the Lagos Arena that would be delivered by the end of this 2025.

Spotlight learnt that works on the new arena —part of a larger entertainment and tourism development called the Lagos Creative and Entertainment Centre— have reached an advanced stage with many elated enthusiasts anticipating that the growing ‘Detty December’ will further get ‘dettier’ with the coming of the massive Arena that can host notable international artistes’ gigs.

The Arena is being built to house live music, exhibitions and sports, as well as congresses. With aspirations to host more than 200 events each year, the Arena is positioned to emerge as Africa’s leading destination for live entertainment as such it will offer a dedicated space for entertainment and creates exciting opportunities for both local and international artists.

Its design includes: 12,000 seats with a retractable seating system layout that can change depending on the event. It has backstage areas and dressing rooms; sound and lighting systems for large-scale performances. It is part of a planned complex that includes: a hotel; a car park —with space for over 1,000 vehicles; roads designed to handle event traffic; and a waterfront boardwalk. The design was handled by Yazgan Design Architecture and the development is being managed by Cappa and D’Alberto, one of Nigeria’s oldest construction firms.

For Amusan, this Lagos Arena might not be his heaviest investment but a trophy and notch on his belt.