Key Points

• Nigeria Formula One Grand Prix bid gains global attention.

• Tinubu-led administration seeks F1 approval for Lagos circuit.

• Officials, investors, and sports bodies rally behind motorsport dream.

Nigeria’s aspiration to host a Formula One Grand Prix is gathering steam, as the federal government and Lagos State intensify lobbying efforts to secure the race — potentially making Nigeria the first West African country to host the global motorsport spectacle.

Sources close to the talks say the initiative is being championed by the Minister of Sports Development, Senator John Owan Enoh, in collaboration with the Lagos State government led by Governor Babajide Sanwo-Olu.

Discussions have been ongoing with Formula One Management (FOM) and Liberty Media, the sport’s global rights owners, about staging a Lagos Grand Prix that could debut before the end of the decade.

The proposal outlines Lagos as the preferred location, given its coastal setting, business infrastructure, and accessibility. Plans reportedly center on a 5.8-kilometer urban circuit running through Eko Atlantic City, modeled after the famous Monaco street circuit.

Nigeria Formula One Grand Prix draws elite investor interest

According to a report by the Punch news, key business figures, including Africa’s richest man, Aliko Dangote, and billionaire investor Femi Otedola, are said to be backing the project through a consortium that would fund infrastructure, hospitality, and logistics. The Nigerian Sovereign Investment Authority (NSIA) has also been approached to explore public-private financing models.

Lagos Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, confirmed the discussions, saying the project aligns with the state’s long-term tourism and economic diversification strategy. “The Formula One Grand Prix will place Lagos and Nigeria on the global sports tourism map,” she said.

According to sports analyst and former Nigeria Football Federation official, Tunde Adelakun, the potential impact is massive. “Hosting a Formula One race could generate more than $1 billion in tourism, sponsorships, and jobs,” he said. “It’s not just about sport — it’s about global positioning and investor confidence.”

Tinubu administration eyes sports-driven economic growth

President Bola Tinubu’s administration has made clear its intent to reposition sports as a key driver of the national economy.

The presidency has reportedly set up an inter-ministerial committee involving the Ministries of Sports, Works, Aviation, and Finance to fast-track assessments for road networks, safety standards, and hospitality upgrades around the proposed race site.

Government officials are optimistic that hosting a Grand Prix could boost Nigeria’s international reputation, attract corporate sponsorships, and create tens of thousands of direct and indirect jobs. “We see this as a catalyst for urban renewal and infrastructure investment,” Senator Enoh told reporters.

Nigeria Formula One Grand Prix seen as symbol of new ambition

Industry observers note that Formula One executives are cautiously optimistic about expanding into new African markets, especially after previous talks to revive South Africa’s Kyalami circuit stalled. “Nigeria’s economic scale and youth population make it a natural fit,” said David Ward, former FIA policy advisor. “If done right, Lagos could become a new hub for motorsport in Africa.”

If successful, the Nigeria Formula One Grand Prix could debut by 2028, symbolizing a major milestone for both the continent and Nigeria’s growing global ambitions.

For a country often defined by oil and politics, this race could mark a new chapter — one where speed, innovation, and ambition take the front seat.