Aliko Dangote & Femi Otedola Comptete For King Sunny Ade’s Guitar Which Auctions For N52 Million!


Most Nigerians might be suffering through a crippling economic recession but that isn’t stopping the 1% from dropping over 50 million Naira on a guitar owned by legendary musician King Sunny Ade.

Last night [Dec. 11] at the music icon’s 70th birthday “Sunny At 70” concert which went down at the Federal Palace Hotel in Lagos, his vintage fender guitar which was designed by Nigerian artist Victor Ehikamenor was auctioned for N52.1 million in Lagos.

Billionaires Femi Otedola and Aliko Dangote (who both saw their networths reduce by half thanks to the Naira’s crippling fall against the dollar) were just some of those in competition for the prized guitar, before it closed at a record breaking N52.1 million to an unnamed buyer.

READ: Femi Otedola Loses $1.3Bn, No Longer A Billionaire Due To Crash In Oil Prices & Naira Devaluation.

READ: Dangote Loses $3.7Bn As Naira Continues To Plunge Against The Dollar


It’s been reported that the bid was in progress, the asking price for the guitar doubled to N17m under two minutes before exceeding the N50m benchmark in 15 minutes. The winner of the auction is yet to be revealed.

The event saw performances from Tiwa Savage, Iyanya, Darey Art Alade, Omawumi, Onyeka Onwenu and was attended by Funke Akindele, Lolo, Emma Nyra, Waje, Debola Williams, Toke Makinwa and loads more.

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