Age

49

Occupation

Senior Lecturer

Location

Abeokuta

Marital Status

Married with three children

Housing

Lives in his own house

Monthly Income

₦820,000 salary

Additional income from consultations and postgraduate supervision

Current Savings

₦24M

When you were younger, did you think life would turn out this way financially?

Not at all. When we were younger, the promise of education was presented to us like a golden ticket, a guaranteed formula for success. We were told to study diligently, earn our degrees, gain respect in our communities, and, in return, bask in the comfort that a secure financial future would bring. It all seemed like a straightforward equation, one that was easy to believe in. However, no one took the time to explain that even the most educated individuals could find themselves humbled by life's unpredictable twists and turns.

In those days, achieving the status of a lecturer was a significant milestone; it was a moment celebrated with joyful exuberance by the entire family, as though the individual had already reached the pinnacle of success. I bought into this narrative wholeheartedly, convinced that by the time I reached this age, I would be living a life of financial ease and stability.

Yet, in Nigeria, life has a unique way of imparting lessons, often revealing that respect and financial comfort can be two entirely separate journeys. The reality I now face starkly contrasts with my earlier expectations, challenging my beliefs and forcing me to navigate a complex landscape in which esteem does not always translate into economic security.

Why did you even become a lecturer?

I have a genuine passion for academics. I enjoyed activities like reading, teaching, discussing ideas, and even correcting people, sometimes unnecessarily. There’s a unique satisfaction that comes from entering a classroom and explaining something effectively, especially when students suddenly grasp the concept—unless, of course, they’re sleeping or distracted by their phones in the back of the room.

At that age, passion often feels sufficient. You don't think much about money because you believe that stability will naturally follow as a result of education and hard work.

When did reality start setting in financially?

Marriage

A man can thrive on the energy of his own aspirations and the depth of his intellect when he stands alone, navigating life on his own terms. However, the moment a wife and children become part of the equation, the stark reality of life swiftly comes into focus.

School fees, the cost of groceries, rent obligations, and the weight of extended family responsibilities all converge, transforming the once manageable financial landscape into a challenging maze. Medical bills can suddenly pile up, each one demanding attention. It’s astonishing how quickly a paycheck can vanish, seeming to disappear into thin air as if by some sleight of hand.

I vividly recall a time when I had just paid the school fees. Afterwards, I found myself sitting in silence, staring at my account balance, which had plummeted to a number so low it felt almost disrespectful. It was a humbling moment, a stark reminder of the financial responsibilities that come with a family.

Did becoming a lecturer feel prestigious at the time?

In Nigeria, the titles of “Doctor” and “Lecturer” carry an air of prestige that commands immediate respect from the community. People often jump to the conclusion that those bearing such titles are financially secure, leading relatives and acquaintances to behave as if the individuals have limitless wealth at their disposal, as if there’s a secret stash of Federal Reserve money waiting to be tapped into.

While the esteem associated with these titles is undeniable, it offers little practical assistance in the face of everyday challenges. Respect, no matter how profound, cannot fill the fuel tank or cover the monthly electricity bill from the notoriously unreliable power supply company, NEPA. It cannot provide the necessities like food and household supplies.

This stark realization can serve as a humbling experience, reminding one that titles, while respected, do not equate to financial security or the ability to navigate life's practicalities.

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Did strikes affect you badly financially?

The ASUU strikes taught many lecturers about financial hardship. During those times, many of us experienced significant mental changes because life outside the university does not stop, even when salaries become uncertain. Children still need to eat, landlords still expect their rent, and hospitals will continue to demand payment.

I remember one period during a strike when I became so financially cautious that buying suya felt like a luxury expense.

Did you ever compare yourself to your students?

There are times when life surprises you in unexpected ways. Imagine seeing a young boy you taught five years ago driving past you in a fancy car. He stops to greet you politely, saying, “Good afternoon, sir.” In that moment, you're thinking about your own budget and wondering if you have enough money for gas before you respond.

Life can be quite amusing sometimes. It’s not about feeling bitter; rather, it can lead to some deep self-reflection. You may wonder how, after spending years working hard for advanced degrees and attending conferences, the financial rewards aren’t what you had hoped for when you were younger. It makes you question a lot about your journey and choices.

Was that painful emotionally?

Sometimes, this feeling does happen. Society often encourages men to find their worth in how much money they make and the stability they can provide, whether they want to admit it or not.

It can be embarrassing to deal with financial struggles, even if people still treat you with respect on the surface. Over time, this contrast can take a toll on someone’s mental well-being. There’s a certain exhaustion that sleep alone just can’t fix.

Did your family know things were difficult financially sometimes?

My wife was definitely aware of what was going on; women have a knack for sensing these things. Even when you try to stay calm and in control, women can pick up on stress really fast. There were times when both of us became very focused on managing our finances, even though we didn’t talk about it much.

Sometimes, making a marriage work is just about two exhausted people quietly supporting each other.

What financial mistake do you think lecturers make often?

Many lecturers tend to rely heavily on their salaries, often feeling a sense of comfort in their stable jobs. This can create a belief that their income will always be consistent. However, unexpected events like strikes or economic downturns can quickly remind us that nothing is ever set in stone.

That’s why a lot of experienced lecturers are exploring other opportunities for income on the side. Many are getting creative with side jobs, joining cooperative societies, investing in land, starting their own businesses, getting into farming, or even offering consulting services. This shift shows that with a bit of experience, they’ve learned the importance of diversifying their income to ensure financial stability in today’s ever-changing world.

Was there a moment that changed how you viewed money permanently?

Yes. During one particularly challenging strike period, the delay in my salary really took me by surprise. I remember one evening sitting in my living room, looking around, and thinking about all the responsibilities that were piling up.

First, there were the kids’ school fees, which always seemed to get more expensive. Then I thought about the fuel for my car; I needed it for getting to work and running errands. Food was another big concern; the grocery bills added up quickly, and I wanted to make sure my family was eating well without skimping on nutrition.

Medical bills were also on my mind, doctor’s visits and prescriptions can really add up, plus you never know when an unexpected expense might crop up. And then there were the family expectations; I felt the weight of wanting to be there for everyone, not just in terms of finances but also emotionally.

For the first time, I genuinely felt a little scared about depending on just one income. It hit me that I couldn’t rely on this situation indefinitely. But you know what? That fear pushed me to be more mindful about my finances than any encouraging speaker ever could. I started looking closely at my spending, searching for ways to earn some extra cash, and priortizing savings with a newfound determination.

Did that experience affect your saving habits?

I’ve really transformed my saving habits compared to when I was younger. Back then, my approach to money was more spontaneous and less strategic, focused largely on enjoying the moment rather than planning for the future. Now, I’ve taken a much more disciplined approach; I make it a priority to save aggressively.

I actively contribute to cooperative programs, ensuring that I’m part of a community-focused financial strategy. Additionally, I’ve started putting money into fixed deposits, which I see as a safe way to grow my funds over time. Retirement savings are another big focus for me; I want to feel comfortable in my later years, so I’m contributing regularly to my retirement plan.

I’ve also ventured into real estate by investing in land, recognizing it as a solid long-term investment. As I’ve matured, I’ve realized that the excitement of spending and indulging in material things has faded. Instead, I find that the sense of stability and security that comes with thoughtful financial planning is far more rewarding. At this point in my life, having peace of mind and knowing I’m building a secure future is far sweeter than any attempt to impress others with flashy purchases.

Do you think younger people take savings seriously enough?

Not really, but let’s be honest, when you’re young, it often feels like you can conquer the world! Retirement seems like a far-off dream, hospital bills feel like something out of a story for old folks, and financial emergencies? Those are just things that happen to other people, right?

But as life rolls on, things start to change, often in ways we don’t expect. Your priorities shift, and what once seemed unimportant can suddenly take on a whole new meaning. One of the wisest things we learn as we grow older is how much those small, consistent savings matter. Sure, they might feel boring and insignificant at times, but one day, you’ll find that they can save you from some pretty awkward moments. It’s all about setting yourself up for success down the road, and trust me, it’s worth it!

What worries you financially now?

Retirement honestly. When you are young, old age seems far away. It feels like something that won’t happen for a long time. But suddenly, you notice that time is passing. You and your child are growing up. Your body starts to tire more easily. As this happens, your thoughts about money begin to change.

You start to ask important questions quietly. Will my savings be enough for the future? Will my pension really help me when I retire? Will healthcare become difficult to manage later on?

These concerns often stay hidden in the minds of many older people as they think about what lies ahead.

Do you regret choosing academia?

I wouldn’t say I have regrets, but I do spend time reflecting on my experiences. Working in education provided me with a sense of purpose, meaningful relationships, discipline, and a new way of seeing things. There’s a special kind of dignity in teaching others sincerely. Sometimes, I run into former students who are doing well, and they share that something I taught them years ago has stuck with them. Those moments really mean a lot to me.

However, when it comes to money, let’s just say that following your passion is a lot easier when you have fewer responsibilities.

What has money taught you over the years?

Stability is often overlooked, but it truly matters. When we’re younger, it’s natural to chase excitement, fun, luxury, and quick success. However, as life goes on, many of us come to realize the value of consistency.

Being able to stay calm during emergencies, manage daily life without stress, sleep easily at night, and avoid financial troubles becomes far more important than simply chasing thrills. Yes, having money is important, but finding peace of mind is also incredibly valuable.

What would you tell your younger self now?

Start saving money as soon as you can. Look for ways to earn extra income early on in your life. Don't think that just getting an education will automatically lead to a comfortable life.

Try not to compare your progress to others too much, because everyone’s journey is different, and success doesn’t come to everyone at the same time.

Also, consider buying land early in life. Many older Nigerians often share this advice because they regret not doing it sooner.