President Bola Tinubu’s recent appearance at the Eyo Festival in Lagos has generated public debate after images from the event showed him wearing a luxury wristwatch reportedly valued at about ₦400 million.
The wristwatch, identified as a rose-gold Patek Philippe Nautilus Chronograph, is said to be worth over $271,000 based on current exchange rates. The model, referenced as 5980/1R-001, is listed on luxury watch marketplace Chrono24 at €224,900, with the listing indicating a 2022 production year and a Madrid, Spain location.
According to product specifications on the platform, the timepiece features a rose-gold case and bracelet, operates on an automatic movement (Caliber CH 28-520 C), and offers a 55-hour power reserve. It is classified as a men’s or unisex luxury chronograph and is regarded as one of the most expensive wristwatches in circulation.
Photographs from the culturally significant Eyo Festival showed President Tinubu dressed in traditional white attire, with the luxury watch visibly worn on his wrist. The images have since drawn widespread attention, with many Nigerians questioning the appropriateness of such opulence amid prevailing economic challenges.
The controversy comes at a time when the country is grappling with rising inflation, increased food prices, fuel subsidy removal, and growing insecurity, conditions that have placed significant strain on households nationwide.
Public reactions on social media have focused largely on the optics of the president wearing an ultra-luxury accessory during a period of widespread hardship. Critics argue that such displays contrast sharply with the economic realities faced by millions of Nigerians.
The discussion around the president’s appearance also coincides with reports of unrest during the ongoing Eyo Festival. Recently circulated videos showed clashes involving Eyo masquerades and members of the public, including scenes where individuals were allegedly assaulted during festival processions.
In one video, several masquerades were seen striking a man with staves as onlookers watched. Another clip captured residents throwing chairs and other objects at a group of masquerades during a separate confrontation, reportedly triggered when the procession approached a residential area.
The incidents have further intensified public discourse surrounding the festival and the broader social and economic tensions currently facing the country.
