Ground broke on 24 February 2024 and construction is expected to finish in December 2025.
The arena will provide a venue for concerts as well as major sporting events.
[2] Lagos Area is financed by a public–private consortium existing of real estate developer with was led by the Nigerian Sovereign Investment Authority, who invested 40.5%.
[1] Other investors from the private sector included Adino Capital Ltd., Sports Infrastructure and Entertainment Development Company Ltd. and Persianas Group.
Construction began on 24 February 2024 and was announced to be finished in December 2025.