A real estate consultant, Gbenga Salako Davis, has advised Nigerians to shift their savings into property investments, arguing that doing so could be the smartest financial decision they will ever make.
Davis, who is the chairman of Hazel Crest Properties, made this observation during an interview with journalists, described savings accounts as “silent wealth killers,” which value is continuously eroded by inflation.
“Did you know that every naira sitting in your bank account is losing value right now?” Davis asked. “While banks offer safety, inflation is wiping out your savings faster than you realise. But there is a proven way to not just protect but exponentially grow your wealth—real estate.”
He explained that property investments provide a safer alternative to keeping money in the bank. Unlike cash, which loses value due to economic factors, real estate generally appreciates over time. “When you invest in land or buildings, you are securing an asset that not only retains value but can also generate income,” he said.
He further highlighted that real estate, unlike cars and other consumer goods, does not depreciate significantly. “While market fluctuations may cause short-term declines, property values tend to rise in the long run,” he stated.
Many Nigerians assume real estate requires massive capital, but Davis disagreed. He urged potential investors to explore emerging locations rather than focusing solely on major cities.
“Today’s cities were once undeveloped land,” he noted. “Those who bought properties in so-called ‘bush’ areas years ago are now enjoying massive returns.”
With Nigeria’s population growing rapidly, Davis stressed that the demand for land and housing will always exist. “Whether for residential or commercial use, property remains a valuable investment,” he said.
“You can develop it over time, further increasing its worth.”
Beyond just buying and holding property, Davis outlined various ways investors can generate income, including renting out spaces, developing and selling properties, or using land for farming. “Real estate allows you to earn passive income while your asset continues to appreciate,” he added.
Rather than watching their money lose value in the bank, Davis has urged Nigerians to start investing in real estate as soon as possible. “The best time to invest was yesterday. The second-best time is today,” he concluded.