At N566k per copy, pundits are adjudging my coffee table book the most expensive book on Nigerian history ever.
I got a call yesterday from a finance expert who used to edit one of Nigeria’s premier financial journals, and he wanted to know what gave me the boldness to put a N599k price on the book
I laughed. The principle is simple
As at today, I’ve sold about 100 copies and am still pushing
I’ve dashed out 64 and will stop when I reach 100 and then start pushing some more.
The strategy is simple and neat – my network
I have no interest in any bookshop, no interest in any distribution deal and will only advertise to strengthen the brand and not to sell
When I finished with the work and saw the cost of printing go up 100% and was hit with a 35% cost of funds, I immediately put a price tag of N1m per copy
Those around me, not doubting my confidence, advised that I sell at N300k so it could quickly move
So I settled for N599k, being the middle road
So where lies my confidence
At N599k, the people I target won’t even be considering price in their buy decision
Or you think Otedola carried a calculator when he ordered 10?
Or my oga, who I met last Friday in his office and in his gym wear, looked at the cover and said – deliver 10 copies so we can use as end of year gifts to our top clients, considered the retail price?
In that market, they don’t look at price but other things like value, branding, etc
Do you go to Monaco, the billionaires’ playground and be asking for the price of a hotel stay, or start negotiating cab fare?
This book was designed for that market, and the market has seen its value and has embraced it
It’s niche marketing; that is why we spent top dollar to print it and air-freight from Dubai
We are about to place adverts on the huge billboard at the Alexander roundabout, and at N350,000 per day, we will run it for 7 days, not to sell the book but to firmly place it as the Rolls Royce of Books
My network cuts across income and social brackets, and I have offerings for all those brackets
The plays are for all brackets, but the Masterclass and this book are for the niche
The masterclass at N6. 5m per person is also arguably the most expensive Masterclass in the country. The closest I have seen so far is N1. 5m
I like playing this space, cos the margins are huge, decision taking is fast, as they don’t have to be thinking of house rent before they buy, and it further opens me up to that class
After we have made the money, we can now come and do charity and philanthropy
So the magic is to be very deliberate in your choice of friends and acquaintances
Target the high and mighty, understand their nuances, give them what they want and never get carried away that you belong
One person, after watching my play Zik, called me aside and said – Edgar, you didn’t price this thing well; you should have sold at £100(N200k) per ticket. A lot of my guys didn’t come cos they saw the price
This is the same £45 that people were saying was too expensive
My next book is the 1,000-page compendium on Nigerian Theatre with over 20 professors and 20 PhD holders
Now, that would be for the mid-income class, as the book would be appropriately priced and printed locally
For this one, the Maddtimes power list coffee-table book, it was not designed for the poor
Come and beat me
Thank you
Duke of Shomolu
Last modified: September 1, 2026
