Today, Tafawa Balewa Square is surrounded by many government buildings and features a monument with an inscription that reads “The Father of Nigerian Democracy”.

The Square, (TBS) is a 14.5-hectare (35.8-acre) ground (formerly referred to "Race Course") in Lagos-Island, Lagos, Nigeria.

Lagos Race Course, but now TBS, was once a sports field that was used in organizing horse racing, and also included a part used for playing football and another ground for playing cricket. The Tafawa Balewa Square land was provided by Oba Dosunmu to colonial masters in 1859. The project was built up afterwards into TBS today.

The course was later demolished in order to make way for Tafawa Balewa Square by Yakubu Gowon. In its prime days, the course was used to organize Empire Day parades. The horse racing track measured about 7 to 8 furlongs, or a mile.

In 1960, Tafawa Balewa Square was renovated to celebrate Nigeria's independence and the lowering of the union jack.

Some of the major national events at Tafawa Balewa Square includes Nigeria’s independence celebration which took place on 1 October 1960. The Prime Minister, Tafawa Balewa, delivered his speech to a large audience of people who had gathered for the event. Tafawa Balewa Square is home to many diverse events, including Democracy Day and musical jamborees.

TBS was originally dedicated as a memorial to Tafawa Balewa, the Premier and second President of Nigeria. The square was built over an old carriage rack for horse racing during that era. It is bounded by Force road, Cable Street, Awolowo road, the 26-storey independence building and Catholic Mission street.

The entrance to the square features four white sculptures of horses and seven red eagles. The sculptures represent strength and dignity in Nigeria's national emblem. Other monuments at the TBS includes the Memorial Arcade 1(with remembrance of the World War I, the Nigerian civil war victims and World War II). The 26-storey Independence Building, constructed in 1963 which for a long time, was the tallest structure in Nigeria.

The square has a 50,000 person capacity. In the square premises, you can find Airline's Travel Agencies, shopping centers, canteen, restaurants, bars, car parking lots and the BRT bus terminal.