Poor man pikin fit go?

Frenchkiss564:


You are really well grounded in finance..... #respect

Thank you sir...respeck

CodeTemplar:
Tax, NHIS, Donations. Your know what they are right?

See your life...are the members not being taxed in the church? y isn't it free for the members atleast..lets forget non members...even the so called subsidy sef the members cannot afford...besides they have quota for scholarships for members which is a very small lot and is highly politicised as a typical Nigerian enterprise..

And how do I know all these..i was a die hard member before I was liberated

glambo:

You are a learner about properties.
I kno of a property that was sold for N17.5million 3 years ago, today if you want to buy same property in the estate it's N37.5million.

Leave the jew man..em no sabi anything..economics sef em no know..dey talk amortization and depreciation for where land dey ..such boldness in ignorance

CodeTemplar:


Free like awolowo and early missionaries schools... make your family school free then and teach Oyedepo a lesson.

Why do you think the early missionary schools aren't free again ? You are delusional man.

I think this is the best response so far.

And yet the igbos who contribute most in his church dont have one situated in core igbo land.shame

1Sharon:


Dumb response.

Primary & secondary schools in the UK are free. Universities in some parts of the UK are free. Contraception in the UK is free and I know some healthcare in Nigeria is free.

Now tell me, how exactly does this extortionate school help the Nigerian economy and people?

How many parents in Nigeria can afford to send their children to this school? It's a sad fact but majority of Nigerians are poor and you know it.

Now tell me how this school isn't exclusively for the rich who are a minority in Nigeria?

Not paying taxes in the UK would land you in Jail. So connect it oga, your taxes forcefully collected by govt pays for ur free services. Oyedepo's case is free donation and is never consistent so he can't guarantee his income like the UK govt enough to predicate the funding of hundreds of subset org on an inconsistent income source.

CodeTemplar:
Free health, education, and public services in UK ?

The government pays for it through the taxes ppl pay.

But as I said before, don't even try to compare paying taxes to paying the full amount for a service. A disadvantaged person in the UK can get a house funded by the government and get money paid to their account without needing to hustle.

So tell me again how this school helps the ppl of Nigeria? Majority can't afford it. So dont try to imply what this pastor did wasn't a disservice, you and that other fool

CodeTemplar:


You are only speculating about the profitability of faith academy schools.
The one in Delta newly built cost well over a billion Naira and there is no way they can recover the cost of building it talk less of maintenance and other recurrent expenses like staff member salaries.
You speculated that the land on which it built appreciates and can be sold but is land and building intangible assets?

He should tell us which church school he has seen that has ever been sold.

kenx1:
Poor man pikin fit go?

for where..if poor man pikin near the gate..na security go bundle am wella

and someone is telling me hes doing us a favour ..d guy na better business man I give it to him..but don't expect me to clap for him or give him an award

His making his money and our young ones are being educated in return..when you go buy food and chop finish you go thank the person wey sell u d food? even if you thank am na out of courtesy no be by force oo..haba..you wanna sell food and I paid cash for it you come dey say make I great you say the food sweat....if em no sweat I for come chop?so kini big deal?

If the food is free ehhen..na den we fit twale..

gobuchinny:


Blind following the blind ..do you even know what amortization and depression is

Dumb followers...the guy just sounded smart and you jumped in...google and learn..

I will teach you guys economics 101 today since you skipped the class in school

The internet makes everyone sound smart.

HigherEd:


Not paying taxes in the UK would land you in Jail. So connect it oga, your taxes forcefully collected by govt pays for ur free services. Oyedepo's case is free donation and is never consistent so he can't guarantee his income like the UK govt enough to predicate the funding of hundreds of subset org on an inconsistent income source.

So all the tithe is what? is that not taxing the church so why doesn't he atleast make it free for the members first like the Uk government?

Shebi the tithes and offering are constant like the tax..

You don't have a point sir

HigherEd:


Not paying taxes in the UK would land you in Jail. So connect it oga, your taxes forcefully collected by govt pays for ur free services. Oyedepo's case is free donation and is never consistent so he can't guarantee his income like the UK govt enough to predicate the funding of hundreds of subset org on an inconsistent income source.

Where did I say paying taxes won't land you in jail?

If someone has a low income they pay no taxes whatsoever. Some can even get a free house and free money. That's the difference between the west and Nigeria

Oyedepo's case is Free donation?? I'm done here

Stay asleep.

gobuchinny:


You are too ignorant and not business minded..do you know that business are in two folds..one the fees which brings incomes and also real estate..do you know the history of most FMCGs? its about real estate...Banks, FMCGs, industries are all into real estate..any good business man wants to own the building and also make the money while the property appreciates ;Dthese group of schools are money spinners for the Oyedepo dynasty while the real estate appreciates over time..

My families school building was bought at 5m per plot for 2 plots in 2005..now current valuation stands at 35m per plot that 10m for 2 plots to 70m OMV..

You don't understand business if you think buying a school premises is all about making the money back in form of liquid cash ..besides the money will be made back eventually over the years..

Furthermore, remember its free money for Oyedepo..monies made from donations that he never worked for..unlike my family that bought the 10m property from my father gratuity

Oyedepo doesn't need to make the money spent back because for him he has tied down his money in a fixed asset that generates currents assets while the fixed assets appreciates ...qualities of a good business man

Young people don't understand assets.

They prefer to be looking at large account balance in the bank.

One comment by Elumelu changed my mindset about business. He said, " Any business You do, have a long term goal ". Then you will never lack in the short term.

Many people believe that business entails running around 8am-4pm everyday and looking busy.

Money is silent.

1Sharon:


The government pays for it through the taxes ppl pay.

But as I said before, don't even try to compare paying taxes to paying the full amount for a service. A disadvantaged person in the UK can get a house funded by the government and get money paid to their account without needing to hustle.

So tell me again how this school helps the ppl of Nigeria? Majority can't afford it. So dont try to imply what this pastor did wasn't a disservice, you and that other fool

Are you thinking?
How can you compare a govt that collects billions in taxes from corporate and individual entities to a church whose income is based on discretion of members. Of course the UK would have enough to cover for the disadvantaged.
Moreover can u compare the number of poor in UK to Nigeria. Nigeria has far more poor people. So it is easier for the UK to assist the little poor ppl it has.

gobuchinny:


That you don't know that school business is one of the most profitable business in Nigeria it shows me how ignorant you really are ask a financial expert..do you know commercial banks give loans to schools without collateral? most banks have these special packages for schools because school business like food business and healthcare will always be needed till Christ comes..same cannot be said for other businesses

I run a school for my family and if you know how much we make you will be surprised...if managed properly its a gold mine

Leave the guy. School business is more profitable than real estate. They operate same income model though.

1Sharon:


Where did I say paying taxes won't land you in jail?

If someone has a low income they pay no taxes whatsoever. Some can even get a free house and free money. That's the difference between the west and Nigeria

Oyedepo's case is Free donation?? I'm done here

Stay asleep.

You made a mumu comment and I'm just pointing it out to you. A person can demand free healthcare from his govt which forcefully collects taxes but cannot go and meet an org to demand free healthcare simply because he donated to them sometime ago.

HigherEd:

He should tell us which church school he has seen that has ever been sold.

You guys really baffle me with your ignorance

I have told you that the aim is not to recover the principal spent on land but to ensure current asset in form of liquidity while the land appreciates..

The point Is never to sell the land except God forbid for unforeseen circumstances but to know that the original prinicipal is secured and will infact appreciate in the future..so if the land was acquired for 1b naira today in the next 20 years it will be 20b which will read in the school balance sheet as profitability while all the period of that same 20years have generated current assets and intangible assets which ofcourse can be derived from the educational sector.

Do you know the value of the intangible assets of the school in the next 20 years ..no you don't..its a win win for Oyedepo...uses principal to acquire land..gains current assets and intangible assets while the fixed assets appreciate thereby multiplying the principal which he does not need as cash but is better off to him as a fixed asset

You guys will never understand the business angle of real estate and I believe I have tried to explain

Double post

HigherEd:


Are you thinking?
How can you compare a govt that collects billions in taxes from corporate and individual entities to a church whose income is based on discretion of members. Of course the UK would have enough to cover for the disadvantaged.
Moreover can u compare the number of poor in UK to Nigeria. Nigeria has far more poor people So it is easier for the UK to assist the little poor ppl it has

But the richest pastors in the world!!

What does that tell you about Nigeria??

Naughtysite:


Leave the guy. School business is more profitable than real estate. They operate same income model though.

Thank you my brother then imagine combining school business and real estate business

1Sharon:


But the richest pastors in the world!!

What does that tell you about Nigeria??

It tells me nothing... The state of Nigeria is a product of the people's choice of leader and has nothing to do with any pastors. Mind you the same pastors have churches in countries you've never stepped into and are flourishing. That tells you Nigerians are d problems of Nigeria

dawno2008:
How much is the school fees?

Just pray that God should bless you enough to send your children to such school.
And not school without roof.
Period.

gobuchinny:


You are daft

All property can be divided between real property and personal property. Real property includes real estate, land and anything permanently affixed to it, and the bundle of legal rights related to the real estate. Any new development of land, such as constructing buildings, is known as an improvement

i wont discuss this issue of appreciation of fixed assets again with you..lets face the original discuss.

You lack the wisdom to comprehend economics and thats not my fault because you skipped the class in school..

Seems they are some of our book professors that doesn't know jack other than blow big grammars.

Many have eyes but only few can truly see, so ignore them because their brain capacity have a limit.

I commend Bishop to an extent because this schools offer quality education, instead of sending kids abroad, let them be within the country where I can easily have access to them, the other way round lifting so much burden on our Forex. The number of kids studying abroad by Nigerian parents is much.

Anyone who thinks straight knows that it's a business venture which will generate returns for the owner or organisation, as for now I don't know who the properties are for, if it's in the name of the church or his, whichever one, I don't care.

Don't forget, when there's competition, the price will crash.


I am a Winner

Naughtysite:


Young people don't understand assets.

They prefer to be looking at large account balance in the bank.

One comment by Elumelu changed my mindset about business. He said, " Any business You do, have a long term goal ". Then you will never lack in the short term.

Many people believe that business entails running around 8am-4pm everyday and looking busy.

Money is silent.

Very powerful quote from Elumelu..does are the people Nigeria is indebted too..not all these fraudsters using the free gospel to privatize business that their dumb and lazy members cant even afford...free gospel ooo..gospel somebody else died for them don commercialise to set up their generations for ever..

Money is indeed silent

How affordable are this schools



[/quote]

hoodedjaystrim:
Scam secondary School

Hate will just kill you!

HigherEd:

You made a mumu comment and I'm just pointing it out to you. A person can demand free healthcare from his govt which forcefully collects taxes but cannot go and meet an org to demand free healthcare simply because he donated to them sometime ago.

Again, the poor do not pay taxes only if they have a taxable enough income, that's the difference

You are the mumu for seeing nothing wrong with this
lavish extortionate school that a majority of Nigerians can never have access.

Oledepo did this cos the sheeple in his churches are wisening up and keeping their tithes.

He has to ensure he has more than one hustle

Youngzedd:


Seems they are some of our book professors that doesn't know jack other than blow big grammars.

Many have eyes but only few can truly see, so ignore them because their brain capacity have a limit.

I commend Bishop to an extent because this schools offer quality education, instead of sending kids abroad, let them be within the country where I can easily have access to them, the other way round lifting so much burden on our Forex. The number of kids studying abroad by Nigerian parents is much.

Anyone who thinks straight knows that it's a business venture which will generate returns for the owner or organisation, as for now I don't know who the properties are for, if it's in the name of the church or his, whichever one, I don't care.

Don't forget, when there's competition, the price will crash.


I am a Winner

First reasonable post from a Winner..i commend you sir..the bolded is very true and I agree..the education is top notch and the forex analysis is true but like every other business model so no one should come and expect me to clap for him

His a business man simple

contigiency:
Reading the article, the writer seems to suggest that people are against the church from contributing to education. No. What people are actually saying is that almost all the schools built by the churches in Nigeria are exclusively reserved for the rich. Because, about 90% of the followers can't afford the fees being charged. Whereas, when the missionaries brought us education among other things, their aim was to reach out to the poor, as against what is being practised today which takes to the rich instead.

The churches that sent missionaries are still operating today and the sensible question to ask is how many of them charge less than Winners or nothing? Please research this well before typing back.

Your govt that used to do similar thing too is trying to offload education subsidy from their neck. That should tell you something. Life isn't by crowd mentality but by logic. Part of maturity is the ability to accept things for what they are whether it favours you or not.

HigherEd:

It tells me nothing... The state of Nigeria is a product of the people's choice of leader and has nothing to do with any pastors. Mind you the same pastors have churches in countries you've never stepped into and are flourishing. That tells you Nigerians are d problems of Nigeria

LOL.

Stay sleep.

gobuchinny:


You guys really baffle me with your ignorance

I have told you that the aim is not to recover the principal spent on land but to ensure current asset in form of liquidity while the land appreciates..

The point Is never to sell the land except God forbid for unforeseen circumstances but to know that the original prinicipal is secured and will infact appreciate in the future..so if the land was acquired for 1b naira today in the next 20 years it will be 20b which will read in the school balance sheet as profitability while all the period of that same 20years have generated current assets and intangible assets which ofcourse can be derived from the educational sector.

Do you know the value of the intangible assets of the school in the next 20 years ..no you don't..its a win win for Oyedepo...uses principal to acquire land..gains current assets and intangible assets while the fixed assets appreciate thereby multiplying the principal which he does not need as cash but is better off to him as a fixed asset

You guys will never understand the business angle of real estate and I believe I have tried to explain

I have been looking at your funny posts with amazement of how wrong you could be.

First and foremost, Living faith schools belong to World Mission Agency, an arm of LFC worldwide. It doesn't belong to any individual but the church so all ya analysis is a waste.
There are tons of high revenue generating endeavours oyedepo can do to make money, buy oil well, real estate(housing, hotel), telecoms, banking and aviation but he only ventured into school because he loves education. School business is for averagely rich people not the super rich. Reason why dangote, otedola, adenuga and co don't own schools.