President Bola Tinubu’s appearance at the Eyo Festival in Lagos State has ignited fresh controversy after photographs from the event showed him wearing a rose-gold Patek Philippe Nautilus luxury wristwatch.
The wristwatch is reportedly worth over $271,000 (about ₦400 million at current exchange rates).
Meanwhile, this opulence is at a time when millions of Nigerians are facing worsening economic hardship and widespread insecurity.
The watch, identified as a Patek Philippe Nautilus Chronograph, reference number 5980/1R-001, is listed on the luxury watch marketplace Chrono24 at a price of €224,900, equivalent to approximately $271,233.
The listing, bearing code Q5W7P4, is located in Madrid, Spain, and indicates a 2022 production year.
According to details on the Chrono24 listing, the timepiece features a rose-gold case and bracelet, runs on an automatic movement (Caliber CH 28-520 C), and offers a 55-hour power reserve with 35 jewels.
The watch is marketed as a men’s/unisex luxury chronograph, placing it among the most expensive wristwatches currently in circulation.
However, photos from the culturally significant Eyo Festival showed President Bola Tinubu dressed in traditional white attire, with a conspicuous luxury watch on his wrist—an accessory that has since become the subject of intense public scrutiny and debate.
President Tinubu’s choice of wristwear at the Eyo Festival shows concerns, as many questioning the optics of wearing an ultra-luxury accessory at a time when Nigerians are grappling with soaring inflation, rising food prices, the removal of fuel subsidies, and deepening economic hardship.