The need for teachers to secure their financial future through property ownership was the trust of a one-day conference titled, ‘Teachers must become landlords.’
Speakers at the event urged educators to embrace financial ownership as key strategies to build wealth and achieve stability beyond the classroom.
Speaking at the conference, Executive Director, Real Estate Synergy Support Associate (RESSA) and the convener of the conference, Festus Ibiam, affirmed that the annual event goes beyond real estate, emphasising that it is about changing the mindset from “teachers’ reward is in heaven” to “teachers can also build wealth, own property and create a legacy.
According to him, RESSA encourages teachers to use cooperative contributions and other practical strategies to acquire land progressively rather than allowing their income to be entirely consumed.
Describing teachers as builders of the next generation, Ibiam noted that many teachers, especially those on low incomes, aspire to own land and homes, but often feel that owning a house is financially out of reach.
“This reality inspired us to create a platform that would not only educate teachers about property ownership and investment but, also provide practical pathways for them to become landlords. This has been the foundation of our ‘Teachers must become landlords’ initiative”, he said.
Highlighting the idea behind their focus on teachers, he said: “We deliberately chose teachers because of their strategic role in nation-building. They shape the minds, character and future of our children.
“Our philosophy is that a teacher who has peace of mind, dignity and a sense of financial security is better positioned to positively influence the next generation.
“Ultimately, our dream is to ensure every teacher should have an opportunity to become a landlord, investor and financially empowered citizen.
“We believe that when we secure the teacher, we strengthen the classroom; when we strengthen the classroom, we strengthen the future of Nigeria.
“We understand that teachers may not always have very high disposable incomes, and many face financial pressures.
“That is exactly why we believe land ownership should not be seen as something reserved for the wealthy. With proper planning, affordable payment structures, cooperative contributions, and disciplined savings, teachers can gradually acquire land and build assets over time”.
Describing land as a long-term investment, he said: “Unlike other income that is spent every month, land can appreciate in value and can become a foundation for building a home, generating income, or creating an inheritance for one’s children.
“For a teacher approaching retirement, owning land can provide an important sense of stability and reduce the uncertainty of depending entirely on salary or pension.
“Land ownership can also have a multiplier effect. When teachers acquire land and eventually develop it, it creates demand for surveyors, architects, engineers, artisans, builders, suppliers, transporters and other professionals.
“This stimulates economic activity, creates employment and contributes to the growth of communities.
“A financially more secure teacher can approach retirement with greater confidence and may be better positioned to support their family and participate meaningfully in their community. Children can also inherit assets rather than inheriting only financial burdens”.
On the other hand, he appealed to the government to address Nigeria’s housing deficit through appropriate policies and an enabling environment.
In addition, he said: “The NUT and teachers’ cooperatives can help us reach teachers and promote collective participation, while financial institutions can potentially provide structured financing solutions that make property ownership more affordable.”
Also speaking on ‘Building wealth on teachers’ salaries’, a retired principal, Folarin Sunkanmi Quadri, stressed the need for teachers to secure their own future, adding that salary is not the problem, but how they manage it.
In his words: “Many high earners are broke. Many teachers are millionaires”, he said. “It’s about what you keep, not just what you earn. Wealth is built over 5, 10, 20 years of consistency, not overnight.”
Describing teachers as invaluable assets, he urged them to turn their knowledge, skills, and discipline into wealth.
“Beyond the classroom, you can engage in home lessons, online tutoring, CBT training, writing/marking WAEC/NECO papers,” he said. “These are viable channels to build additional income streams.”
