Seyi Tinubu’s N346 Million Wristwatch Sparks Outrage in Nigeria, Where Only 5% Have Over N500,000 in Bank Accounts

In a country where only 5% of the population has over N500,000 in their bank accounts, the extravagant lifestyle of Seyi Tinubu, the son of President Bola Tinubu, has come under scrutiny. Reports have emerged that Seyi is using a wristwatch worth a staggering N346 million, highlighting the stark contrast between the affluent few and the struggling majority in Nigeria.

This revelation was brought to light by human rights activist and #RevolutionNow convener, Omoyele Sowore, who criticized the Nigerian government’s economic policies. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, recently stated that a mere 5% of Nigerians possess more than N500,000 in their bank accounts. This statistic underscores the economic disparity in a nation grappling with rising living costs and widespread hardship.

Sowore’s critique on his X handle emphasized the irony of Seyi Tinubu’s opulent accessory amidst the financial struggles faced by the majority of Nigerians. He argued that the concept of ‘justice for all’ falls short of addressing the specific needs of those suffering from the country’s economic challenges.

The issue of extravagance among Nigeria’s elite is not new. In October 2023, there was public outrage when Seyi Tinubu used a jet from the presidential fleet for a private trip to Kano State to attend a polo tournament. Polo, a sport associated with the wealthy and ruling class, further exemplifies the luxurious pursuits of the privileged few.

This incident mirrored a similar situation in January 2020 when then-President Muhammadu Buhari’s daughter, Hanan, used a presidential jet for a private photography trip. Such instances of lavishness using taxpayers’ money have sparked debates about accountability and the need for economic reforms that benefit the wider population.

As Nigeria continues to navigate its economic challenges, the lifestyle of figures like Seyi Tinubu serves as a reminder of the urgent need for policies that bridge the gap between the rich and the poor, ensuring that the wealth of the nation is shared more equitably.