A N6bn (US$3m, €2.7m, £2m) theme park in Nigeria is applying the finishing touches ahead of an 18 December opening in Makogi Oba, with further investment into the international-standard attraction promised by the project’s backers.

The 185,000sq m (46 acre) Hi-Impact Planet (HIP), backed by Nigerian company Solution Media and Infotech, is located opposite the country’s recently established Mountain Top University.

Built to global standards from European and North American manufacturers, the park features a selection of rides and attractions, including a haunted house, IMAX cinema, drop ride, spinning ride and more. The theme park also offers an ice rink, 5D cinema and an arcade.

Speaking ahead of the opening, Solution Media and Infotech chair Adeyanju Lipede said that the attraction would provide a major stimulus to the local area, improving land value, income and safety.

“When we bought the land for HIP in 2011, the value per plot was about N3m (US$15,000, €13,600, £9,900),” said Lipede. “Now it’s up to N6m (US$30,000, €27,300, £19,800) and I’m sure in the next few years it will reach N10m (US$50,200, €45,800, £33,200). This will significantly boost people who have small businesses, who will also benefit on the patronage of the park.

“With the arrival of the park the police will also raise their profile in the area, so it makes it a much safer place to be.”

Lipede added that there would be regular investment into the attraction, which also offers a food court, studios, apartments and shops. Several of Nigeria’s banks – Wema bank, First bank, Eco bank and Skye bank – have also backed the development. Able to host up to 125,000 people daily, the new attraction represents one of Nigeria’s largest entertainment venues.