Ambassadors:
If it's easy to get people gift and offering to finance your project what are you waiting for? Talk is cheap indeed

MissionaryArchi:

That is because it's only what news carry about.
I have never seen any Pastor who is so passionate about winning souls every day of his life. He has/is my motivation is kingdom outreach. I have being a very religious Christian seeking for what I can get from God until came in contact with this man and I began to see my greatest work as a born again Christian is winning souls for God and that is our destiny every other thing na jara

SSpeter:
The people you are trying to educate have basic economic knowledge. Hence, do not stress yourself much. They are probably students...

Lionnation:
how would you owe anyone when you are recieving tithe and offering first fruit, seed, building levy, did you build any business with your sweath. Nonsense

Strongbest:



Rubbish? Maybe you don't know the meaning of rubbish or you are just too eaten up by hatred that you hate to hear the truth.

Flaxxo01:

Abeg make Dem go hustle Dem follow enjoy d money when he dey alive

Ochelyko1:


Why will I arrest a man who has already condemned himself? The man is already in his way to eternal destruction who whom am I to arrest him?

And if you choose to remain gullible and remain poor why your pastor is busy buying private jets and building mansions that even u in ur entire life can not even come close to the house or even near the gate who am I to stop u?

Keep on decieving urself claiming u are giving to God!

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

BluntTheApostle:


This one is never passionate about winning souls, but expanding his business.

All his messages are always about making money. And he is very boastful, always talking about how far he has come (materially) from when God purportedly gave him the vision in 1981.

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

Amotolongbo:
Hmmm

Now I understand the difference between a man who borrowed loans from bank to finance his project and another one who depends on other people’s gift and offering to finance his project.
one is a risk taker while the other is an opportunist

Dangote’s worth is $14billion while the cost of Dangote’s refinery is about $19billion.

einsteine:



All these don't apply to the US because unlike other countries of the world, their currency is the global reserve currency. This allows them export their inflation. The debts they owe (including the printing of currency) would not have to be paid by actual resources. This is unlike the debt owed by Nigeria for which the resources of the country (crude oil et Al) must be sold to earn Forex to pay back the loan.

2mercy:


https://pmnewsnigeria.com/2022/03/11/wealthy-people-with-n1bn-worth-but-owing-banks-n10bn-are-stupid-oyedepo/

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

Strongbest:



Hahaha. The audacity though. You see what I am saying? You heard they said, unfortunately people of this generation are very gullible and like to hate on people that are way ahead and more than them in all ramifications.

Back to your story, it's a PURE BIG LIE! GOSH!

Look man, desist from carrying fake news about anyone, it doesn't get you far in life. It's a big limitation to destiny.

Ayemileto:


Based on the full article, I don't think it applies to business men (like Dangote) because they aren't doing big boy around town, and they are not using the loans to purchase liabilities. Instead, they are investing with it.

---

As for the cost of Dangote refinery, I don't know of banks that borrow people more money than their collateral sha. Maybe they exist and I just don't know.

But, as at when Dangote started his refinery, the cost was supposed to be $8billion (I saw it in newspapers then). I don't know if they changed the initial plan for the cost to have jumped so high, or maybe it's because of inflation.

But, I think the $19billion tag placed on the refinery might be to avoid questioning on the $3.2billion NNPC paid for 20% stake.

Let's not also forget FG sells forex to Dangote at a cheaper rate because of the refinery. So, it might as well be to get much more forex out at a cheaper rate.

What I'm saying is that, it might not cost up to the $19billion price tag. The price could have been inflated for several reasons.

Ayemileto:


Based on the full article, I don't think it applies to business men (like Dangote) because they aren't doing big boy around town, and they are not using the loans to purchase liabilities. Instead, they are investing with it.

---

As for the cost of Dangote refinery, I don't know of banks that borrow people more money than their collateral sha. Maybe they exist and I just don't know.

But, as at when Dangote started his refinery, the cost was supposed to be $8billion (I saw it in newspapers then). I don't know if they changed the initial plan for the cost to have jumped so high, or maybe it's because of inflation.

But, I think the $19billion tag placed on the refinery might be to avoid questioning on the $3.2billion NNPC paid for 20% stake.

Let's not also forget FG sells forex to Dangote at a cheaper rate because of the refinery. So, it might as well be to get much more forex out at a cheaper rate.

What I'm saying is that, it might not cost up to the $19billion price tag. The price could have been inflated for several reasons.

Ayemileto:


Based on the full article, I don't think it applies to business men (like Dangote) because they aren't doing big boy around town, and they are not using the loans to purchase liabilities. Instead, they are investing with it.

---

As for the cost of Dangote refinery, I don't know of banks that borrow people more money than their collateral sha. Maybe they exist and I just don't know.

But, as at when Dangote started his refinery, the cost was supposed to be $8billion (I saw it in newspapers then). I don't know if they changed the initial plan for the cost to have jumped so high, or maybe it's because of inflation.

But, I think the $19billion tag placed on the refinery might be to avoid questioning on the $3.2billion NNPC paid for 20% stake.

Let's not also forget FG sells forex to Dangote at a cheaper rate because of the refinery. So, it might as well be to get much more forex out at a cheaper rate.

What I'm saying is that, it might not cost up to the $19billion price tag. The price could have been inflated for several reasons.

omokab:
my friend the man is not right at all. He's just an opportunist who got money from donation and gift. He doesn't understand the simple economics. Tell me a rich man or a rich country that doesn't borrow loan more than their net worth . you need capital to finance your project and when you don't have already
Made capital you need to borrow. What you use the money to do is what matter most. Let dangote start operation from his refinery and see the returns on his investment .When a nation is borrowing to finance a capital project which will be of benefit and increase his income definitely is in good direction but when borrowing to finance expenditure that nation is going to collapse. A difference between Jonathan government borrowing to pay expenditure and buari government to finance capital expenditure.

SmartPolician:
Most of us don't know that we are better than many people we consider wealthy because they live on loans from banks.

The funny thing is that the money are ours.

essandor:
words of wisdom from my pastor

tempest01:
This isn't a wise take from Pst Oyedepo.

In order to create wealth, you need capital.

In his area of operation there is a multitude who directly and indirectly contribute to their capital. Ordinary business people don't have that.

They need to source for capital with debt. As long as their debt to equity ratio is kept healthy, you can take that risk, take that debt and invest wisely .

Those that are not wise are those with no investments and living on stolen money still taking on Loans.

Ideally you should take loans to expand on an already working enterprise that can service the loan.

Yomit71:
Some people make borrowing a way of life, it's a sickness. Even when they have the money at hand they still prefer to buy on loan.
You have #100k in your account and you can't buy a phone of #30k freely without loan. why?

MrRemedyAlagbo:
He's right though, always live within your means

dawnomike:
I think i really need to read this over again to understand better...

vince96w2:
That's not true..Personal money is different from company money.. secondly for him to get 19m his asserts will be more than that..19m is a loan now but when it's paid it bcoms an assert.. remember that's d only refinary that will be functional in Nigeria..His fuel will finish and we will need additional to balance out demand ...Dangote can't be used in ur analogy because there is diffrence btw borrowing to flex and borrowing to invest..

SmartPolician:
Most of us don't know that we are better than many people we consider wealthy because they live on loans from banks.

The funny thing is that the money are ours.

grandstar:
He is saying rubbish.

There are some businesses that are extremely dependent on debt or leveraging. One is the real estate market for instance,

In America for instance, you can buy a property with 10% down. So. let's say you purchase a property for $100m. You put only $10m.

The rent takes care of mortgage interest. You now decide to sell the property after 2 years for $115m. You have made $15m profit with only $10m. There are even instances you don't put any money down as long as you can service the mortgage, you're good. So, you make $15m with no money down at all. That is making money from thin air.

The petroleum industry I have learned in Nigeria is highly leveraged. Turnover is where the profit is. Imagine you borrow 10billion to import diesel and you sell it at 10.8bn, you've made 800m profit. Imagine you do that 4 times a year? That is 3.2bn for you. At times, you've sold the product before it even reaches the port.

Oyedepo should focus on preaching salvation instead of prosperity, especially in today's world, where worrying dark clouds are becoming frequent

ezewealth:

Your head dey dia bro. That is making good use of debt. DAT is the only diff between rich and poor minds. Most billionaire makes dIA money without sweat with debt