Many social media users have fired Seyi Tinubu, the son of President Bola Tinubu, for urging Nigerians to endure hardships while flaunting an opulent lifestyle.
Nigerians are battling with persistent economic hardships caused by the policies implemented by Seyi’s father.
According to the National Bureau of Statistics (NBS), headline inflation rose to 29.90 percent in January from 28.92 percent in the previous month. Food inflation rose to 35.41 percent from 33.93 percent.
In a post made on his Instagram on Monday morning, Seyi, who once flaunted a Richard Mille RM 055 luxury watch worth $550,000 or ₦825 million at ₦1,500 to a dollar, urged Nigerians to support his father’s administration amid economic hardships.
He quoted his father as saying, “There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago.”
“I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.”
He also added hashtags such as #HaveFaithinHim, #NigeriaisinGreatHands, #OurGenerationwillYieldthefruitsofthishardship, #IStandwithOurPresident, #RenewedHope, and #NigeriaismyHome to rally Nigerians support for his father’s administration.
A few months ago, the president’s son was roundly criticised for flying a presidential jet to watch a polo match in Kano while many Nigerians struggled to feed.
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Nigerians react
Seyi’s Instagram post elicited a lot of negative feedback from Nigerians, who asked if faith in Tinubu’s government would put food on their tables.
“My inky anger over his statement is the “We must endure” who are the we? What is he enduring with the current state of the nation?” an X user, Omotayo of Lagos, said.
Another user, Chief Ajiji, said, “With the increased level of hunger in the land, if Seyi Tinubu dares to enter the streets unguarded, he will pay dearly on behalf of his father’s harsh policies.”
Wizarab said, “How many life time do I have to work for you to afford it?”
Benassi said, “People who can’t afford to eat even one meal anymore should endure so you can rock the over $200k watch on your wrist?”
“You had never for once experienced what Nigerians are experiencing today, and you don’t have that capacity to tell Nigerians to persevere for the current hardship,” Maigandi said.
Protest erupts in Ibadan
A protest erupted in Ibadan, the capital of Oyo State, on Monday over the economic hardships caused by Tinubu’s policies.
The protesters, who were mostly youths, blocked major roads in the city to express their grievances over the rising cost of living in the country.
The demonstrators asked the government to address the issue of hunger in the country, saying that they were fed up with the situation.
The placard carrying protesters chanted anti-government songs, while security agents looked on.
Some of the placards have inscriptions such as ‘Open Border, End Hardship’, ‘End food hike and inflation’, ‘The poor are starving’, ‘Tinubu, don’t forget your promises’, among others.
Recall that a similar protest occurred in Minna, the capital of Niger State, two weeks ago. Hundreds of women and youths blocked roads over the high cost of living in the country.
The leadership of the Nigeria Labour Congress (NLC) had also declared a two-day nationwide mass protest slated for February 27 and 28 over the biting hardship in the country.
Removal of subsidy can be managed but floating naira was a very bad policy – Franklin Ngwu
Franklin Ngwu, a director at the Lagos Business School Sustainability Centre, said the removal of fuel subsidy by Tinubu’s administration can be managed, but the floating of the naira was a very bad policy.
Tinubu announced the removal of fuel subsidy during his inauguration in May 2023, the pump price for petrol has skyrocketed since then. The product, which was sold between ₦190 and ₦210 before Tinubu’s government, is currently sold between ₦568 and ₦620.
The current administration has also liberalised the exchange rate, which has led to the freefall of the naira. The official exchange rate fell from N463.38/$ to over N1,600/$. On the parallel market, the naira is now pushing above N1,700/$ from 762/$.
Speaking on Arise TV on Monday, Ngwu said, “The government may have good intentions, but their policies haven’t been properly thought through and implemented.”
He argued that the removal of subsidy can be managed because everyone believes that it has to go. Ngwu, however, said the floating of the naira by the current administration was a bad decision because the country doesn’t have the production capacity to sustain a floating currency.
“Removal of subsidy can be managed but floating the naira was a very very bad policy,” he said.
