Batam:

In order to create wealth you need capital but not the one you are trying to corner common mans paltry savings in the name of bank borrowing and raising capital from stock exchange through fictitious and manipulated financial reports.

What Bishop Oyedepo was saying is that these so called richmen are highly geared that the ratio of their wealth to their debt burden is too high and there is no wisdom in that.

You are not making sense. What do you mean by "corner common man's paltry savings?"

Has common man gone to the bank to withdraw his savings and they tell him "sorry, a "rich man" has cornered it?"

Says someone who emanates wealth from poor peoples offerings, tithes and other donations. He is truly smart

Focus on drawing ppl to Christ

No b yur whalahi

No cap... man of wisdom ��

Khaysee:
You are wise and very good with investment from your days in kaduna if you not a pastor you will definitely be a successful business man

Affordable men clothing clothing payment on delivery within lagos and nationwide delivery daily

Another Brainwashed somebody (ABS)

tempest01:


You are not making sense. What do you mean by "corner common man's paltry savings?"

Has common man gone to the bank to withdraw his savings and they tell him "sorry, a "rich man" has cornered it?"

Banks like Savanna, All States Trust and other banks that collapsed, how many of their customers were able to withdraw their savings. All these savings were borrowed by these highly geared rich fellows and were not servicing it. Hence, those banks were unable to meet stakeholders obligations.
If you do not know anybody that lost money, JJ Okocha case study is on the records in Savanna Bank

Oyedepo is stupid as usual since he millions of idiots funding him. Every SS1 accounting student know as that for banks, debts to customers are assets on their books especially if the loans are not toxic. Also for the customer, the 9 billion debt is also assets if used to acquire or create money earning assets. Dangote money � is less than 1billion $ but he is owing around 15billion $. Yet all the debt is tied into his refinery and fertilizer plant which is an asset that he owns.
Between Dangote and Oyedepo, who is stupid?

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.

BigYash:
No be Bakare him dey use style talk to so?Lol..Him no lie sha.. Borrow money dey form big boy.. Nigga you are a small boy..

Which Bakare be that? It also applies to everyday people who live above their means as well as those who steall to pay for tithes and offerings

Pastor return all the offerings you have collected, let us see maybe you will not borrow to established

2mercy:


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

Why call them wealthy they of all men most miserable.
I have said let there be a day of pay your debt nationwide and see the results.
Most glorified poverty stricken masquerader forming rich will eventually get back to their respective places.

Daddy, why money money matter today again


�

In reality there is no way you would owe 10x your networth; your creditors need to believe you can pay back. Ideally you should not owe more than your worth and such debt is usually called leverage if you use it to purchase income generating assets.

That's so deep analysis

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.

The loans are to Dangote Ltd not the man Dangote. If he were to sell the asset today he'll walk away with his billions and the new company 2ill inherit the debt.

The dyanmics of big business in the 21st century mostly involves leverage/loan.

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.

And how much will your GOs have left if you subtract the glorified extortions from brib washed members?

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.

But my question is how come the opportunist is still getting richer? Other peoples gift no de end Abi what kind of thing makes others keep giving you gift? Is it that easy to get people to keep sending gift? What could be the cause?

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.

Most of them talking trash are atheists and muslims. If not what the man said is a bitter truth.

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.

Oga na wa o, why not read what he said well and come back and check this your comment again

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.

You believe papa to be an opportunist? After all the contributions he has made.

Ochelyko1:


I like ur analogy, who borrowed is far far better than someone who milk others to become Rich.

you people don't just have sense was he talking about people borrowing to do business, or those borrowing to live a big man life, olorun mofos full this nairaland.

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.

Is Dangote going to pay those monies from his personal pocket or from the investment he made? And your so called Oyedepo is a graduate! I don't blame him anyway, what does he know about business? Investment is not collecting people's tithe and offering and claiming to be rich.

Strongbest:




I think some of you just don't believe a man can be so wealthy yet loving and serving God sincerely.

I was once blinded and made to hate this man so much until I had personal encounters. Look, before you say negative thing about anyone, not just a man of God but anyone, make sure you really have had personal encounters and not saying things based hearsay; only fools, I mean irredeemable fools do that.

What that guy is saying is that the Bishop's messages are majorly centred on wealth and prosperity and that's the truth. He talks too much about wealth and what it does is that it sends the wrong message to his teeming congregation. No wonder the desperation to make money among members and then come to the altar to give vain testimonies about material possessions while the congregation cheer with shouts of "I tap into this grace, etc"...

That church is a money making enterprise and that is the truth. I like the fact that they have a good structure and are very organised though.

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.

He's condemning borrowing to consume not borrowing to invest. Dangote borrows to invest.

tempest01:


You are not making sense. What do you mean by "corner common man's paltry savings?"

Has common man gone to the bank to withdraw his savings and they tell him "sorry, a "rich man" has cornered it?"

Lol. This one off me. @ sorry. a rich man has cornered it

JohnSP99:

Oga na wa o, why not read what he said well and come back and check this your comment again

As na only you sabi read

Jossybj1984:
Many of you need someone to read to you and explain to you in your local language.the man of God wasn't condemning act of borrow but he said those debt of 10billon is hanging on their neck and yet they are living as if bank are owing them not them owing bank that is totally ill because don't forget many of this debt they accumulated are the reason it difficult for small scale business to access loan in bank because the big one are not paying their debt yet they live like a prodigal son

So you too are surprised by their shocking reactions? This is why I keep saying that most Nigerians are pitifully deficient when it comes to accurate understanding of messages. A very clear message has somehow been twisted, and Dangote dragged in.

He was not speaking against business loans. He was only chastising people who are indebted, yet live lavishly way above their economic means. A simple message.

Batam:

Banks like Savanna, All States Trust and other banks that collapsed, how many of their customers were able to withdraw their savings. All these savings were borrowed by these highly geared rich fellows and were not servicing it. Hence, those banks were unable to meet stakeholders obligations.
If you do not know anybody that lost money, JJ Okocha case study is on the records in Savanna Bank

Now is this not a government and regulatory body issue?
Bank deposits are insured (should be insured)
NDIC is for that purpose.
More recently banks were merged and minimum capital defined for banks.
As an institution, you also need to do your due dilligence and back your loans with good collateral.
That the regulators failed, does not mean that borrowing or lending is bad. No economy or business can grow without adequate financing
If there is no one dashing you money, or you are taking from others unduly, you'll most likely need debt at a certain point to grow
Except you are contented, or your legit turnover is so good or you can build slowly.

I really don't do this often but make I ask this question....how can your " Net worth" be 1 billion and you are still talking of liabilities??...now let's assume that word "Net worth" means asset...how can a company have assets of 1 billion and 9 billion liabilities?...how do you balance the books( balance sheet).. because for you to have a net worth of 1 billion your assets had to be 10billion..to cover the liabilities...and the balance 1 billion has to be equity...I say make I ask ooh..

2mercy:


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

Emperordynasty:

Shut up liar ...
You judge a man by what is being carried by the press...
Do you have sense now..
If the press centers on area where he talks about money in his message does that make that the only gospel he preaches..

This one too will call himself a Christian...your type really are the worst type of Christian who Join unbelievers to attack the church of God...

Are u a winners member..I'm very sure u not, yet you sit at home and conclude that he preaches only about money...

See attack because of a mere man. Now what makes you different from terrorists who would slit throats because you mentioned Mohammed? So if I don't go to Winners or even church at all, is this how you can win me as a convert? Is this how Jesus Christ taught you to handle u believers? By attacking them?

There are a lot of quack “economists “ in this thread starting with this fella. GDP and external debt are two different macroeconomic figures of metric. One is a stick variable and the other is a flow variable. They are used in tandem and not for economic comparison

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.