₦airaland Forum

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

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

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

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

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

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..

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:
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

Frenchkiss564:
You are really well grounded in finance..... #respect

Thank you sir...respeck

samyyoung1:
Love ur reasoning....I need u as my friend

Thank you my brother for the compliments..respeck

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.
[/b]You speculated that the land on which it built appreciates and can be sold but [b]is land and building intangible assets?

Im not speculating but im certain of the profitablity of all Oyedepos schools

I have told you this over and over again the aim is not to recover the cost of purchase of land or real estate..d aim is to have current assets in form of receivables ..and allow the land appreciate over the years..

Y cant you google if land and building is intangible assets or not ...must I spoon feed you that's how you guys don't study your bibles but allow these thieves to keep feeding you nonsense every sunday to fleece you and buy businesses in their names while you guys remain poor

Infact its easy for Oyedepo because he didn't dip his hands into his family treasury to buy the land..its free money that never left his balance sheets but left the sheeples balance sheet..its just like yahoo yahoo..free money las las dey remove cost of internet and other miscellenous but by and by its free money

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 cant make my family school free because it was built on the blood and sweat of my late Fathers gratuity ..

Oyedepo school is built on the sweat and blood of gullible sheeples like yourself free cash...its like someone stealing from you and you are thanking them ..sad part is that 70% of the members cant afford to send their own kids to the school...and we are here condemning yahoo boys

Atleast even if we dont agree im glad i have educated you on economics today..so now you will aprreciate real estate and dont think when people are buying land they dont know what they r doing

Blind follower of the blind

jesmond3945:
what if he pocketed the money but he is using that money to provide education and besides you don't know his motivation. Your own might be money but his might be different.

How else do you wanna know a mans motivation if not to follow the money? do you know how much CU charges? do you think going to CU comes cheap?..

Don't know how much FA charges but I know it will be above the average

If the schools were free like what Awolowo did or what the early missionaries did..then I wont even be on this thread my brother

But telling me to celebrate or appreciate someone who is running a business and providing a service that people are paying for at a premium is an insult to my intelligence.

I really don't blame Oyedepo but our useless and selfish government..the man saw a need and filled it..demand and supply..simple economics..

its a way of diversifying the much cash that is generated every sunday..too much cash needs to be plunged into fixed assets that generates current assets..real business men know this principle..

Like I said..its similar to money laundering or washing your money in the laundry so it becomes clean...fraudster buy hotels do you think dey buy it to recover their principal amount?? no rather its to hide the cash in the assets while generating whatever liability that comes with it..

Its a win win for them and if they ever become broke again they sell the real estate at above the FSV for which it was purchased in the first place

CodeTemplar:
Is the fee being paid covering the running cost of the school? That's the important question. It isn't.

Hmmm..another uninformed quote

Just negodu wetin son of man dey spew out..

Chaiiiiiii..indeed Nigerians cannot think for themselves hence the level of brainwashing..

I wont even begin to discuss this one with you bro...your ignorance is affecting me and I have to be careful else I will just be as ignorant as you


Im happy i speak from an informed position...i run my family school and understand business..weather the school was made with bamboo ..na you sabi but im happy im not ignorant

CodeTemplar:
So if building appreciate why are govt schools looking like poultry?

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..

jesmond3945:
what are you saying? Send almajiris in the north to this schools and watch nigeria grow. If all the politicians in the north did half of this, were are we going to be talking about bokoharam? When you see a good thing appreciate it.

You guys don't understand my points...that he has a good school is commendable but not more commendable than any other business man that own schools...he is providing a service and people are paying so kini big deal?

Besides it free money

mastermaestro:
Leave the incurable pessimist alone. Even if Oyedepo tarred the road leading to his house, he will still come here to cry about the inactivity of the church.

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

CodeTemplar:
At bold, there is some thing called amortization and depreciation in Accounting. research it and cure yourself.

You are an ignorant man

Amortization is for intangible assets and can never be used for fixed assets like land while depreciation cannot be used for land in the company balance sheet bush man and fake economist thats y Papa is always knocking your head on the wall because you are not smart ...

Depreciable properties include vehicles, real estate (except land), machinery.......

Be smart and stop forming wisdom when you lack it

gosmoney:
what is d name of ur family's school pls cos I knw it has nt even been approve for waec talkless of been knwn. When u see good things appreciate it bro and stop d hate write up of urs ok

You guys really have a slave mentality..

Someone is using free money to fill a void in the economy like demand and supply like any other business and you all expect us to jump up and praise him? answer me naa is the school free? isn't he making money from the school? you think iz charity? slave mentality

The real business men are Dangote and Tony who hustled to grow their business not from free money like your man of gold Oyedepo..selling the gospel to you slaves that wont study your bible but worship men that are after your pockets..

My familys school is 16 years this year...beleive it or not it makes decent money and im satisfied because im the heir with my siblings just like Oyedepos children will inherit all the real estate while your own children cant even afford to attend CU

Your memebers are very broke...i know alot of them yet your pastor is fleecing them and doing business and we should all jump slavery mentality

CodeTemplar:
More speculations without a school name. Sample you school pictures lets see maybe you are using bamboo to construct classroom in Magodo self.

Why should I put my school name and pictures here in a public space? to prove to you? boy you are not exposed

Whether bamboo or not my family is doing fine ...and really if we sell today it will be going for nothin less than 80m ..Power of real estate

Kennydoc:
If those people didn't pay the tithe and give the offerings, there wouldn't be these schools today. Those same people may not have been richer today cos they would have spent the same tithe and offering money on something else. The addition of these schools is a great boost to the Nigerian educational system. I can also bet you that these schools will most likely have a far better standard than the average government owned schools in their localities.

Whether built with tithe and offering money or his personal money, whether expensive or free, Oyedepo should be commended for his massive investment in education. Look at Covenant already among the top 3 universities in Nigeria. It's a thing of pride.
The government compulsorily collects tax from all the working class citizens and the money is squandered by a few. Oyedepo collects tithe from a few Winners members out of their own choice and invests the money massively, yet people are complaining.

My good sir I like you matured points. however, he should not be commended because its just a business for him..y r we acting like his doing Nigeria a favour? CU is charged at a premium so its a business...who benefits from the proceeds of this business..its his family..how can you use tithes and offerings to build school privatized in your familys holding and expect I clap for him?

If the schools were free or subsidised then it might be understood but the school makes profit...not to talk about the real estate that is registered in his families holding...

Besides he doesn't collect from a few but ALL...if you r not tithing or paying offering I doubt you r a serious member as Papa would tell you that himself

CodeTemplar:
You didnt address anything I raised but instead added more speculation to your initial rumours.
How can a school building appreciate? If that is the case, why dont govt schools appreciate naturally?
Your brain must be liquid sir. No offense intended.

You are ignorant sir and don't read between the lines..how can a school building appreciate?did you really ask me that...hmmm...are school biuldings not real estates? don't you know that real estate always appreciates?

The value of Government school in 2006 is it the same value now? do you know that in Lagos state Government balance sheets the properties will appear as fixed assets which culminates to profitability?

Y do you think people buy houses or build estates and put for rent? do you think its because they wanna make the principal back? you are not exposed and not financially equipped to comprehend..do you have a building of your own? if you do then you will understand my points..

But you have been brainwashed

Its like money laundering bro..when you have so much cash you buy fixed assets to convert the money to fixed assets which in turn generates liability..you really dont care to make your principal invested but all you want is that your principal is secured and no better way to secure same than through treasury bills/bonds and real estate...

but you will never comprehend because you lack business acumen and are very limited to your pettiness

CodeTemplar:
Oga, before you shout like a man with kidney in the skull, know these:

Faith Academy in Delta state was built with well over a billion Naira and it they cant recover the initial capital spent in two decade freom fees going by the population of the school and what they pay teachers alone.

Be guided and do proper research before hating on people you don't know.

This pattern of subsidy doesn't stop at the that particular FA alone but is being replicated in many FAs across the continent. Same pattern is present at the universities (CU and LU) also and I wonder what you stand to gain be rubbishing the efforts of a good man who didn't force himself on you like Buhari is doing.

By the way, what is the name of your profit family owned school in Lagos? State it, and let's do a side by side comparison of the school with one of the Faith Academies. Let's compare the fees, facilities and staff ratio to see just how profitable school businesses are.

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

CodeTemplar:
Oga, before you shout like a man with kidney in the skull, know these:

Faith Academy in Delta state was built with well over a billion Naira and it they cant recover the school fees spent in two decade going by the population of the school and what they pay teachers alone.

By guided and do proper research before hating on people you don't know.

This pattern of subsidy doesn't stop at the that particular FA alone but is being replicated in many FAs across the continent. Same pattern is present at the universities (CU and LU) also and I wonder what you stand to gain be rubbishing the efforts of a good man who didn't force himself on you like Buhari is doing.

By the way, what is the name of your profit family owned school in Lagos. State it and lets do a side by side comparison of the school with one of the Faith Academies. Let's compare the fees, facilities and staff ratio to see just how profitable school businesses are.

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

HigherEd:
When most attack the efforts of the church they do so in ignorance! The Church remains the most potent Non government movement that has impacted positively on both education and healthcare from the very first times missionaries set foot in Africa. Today 70% of Congo's entire secondary schools are catholic while a significant portion of Nigeria's public secondary schools where initially established by white missionaries.

Faith Academy schools are spread across Nigeria. The living faith Church hopes to own about 700 of these secondary schools across Africa in addition to 5000 primary schools. The FA schools are all managed by the Education commission of Living Faith Church headed by Professor Bridget Sokan. The Education Commission of the Church Operates from the 4th floor of Covenant University Senate building.

In attestation of the quality of Church high schools the last highest jamb scorer for 2018 was a product of Faith Academy Ota with 364. Apart from this thousands of teachers are needed to service these schools creating massive employment.

By 2032 the LFC church total secondary schools would equal that of Oyo and its primary schools would equal that of the entire south west states in Nigeria.

When you read this know full well that these schools just represent a minute portion of the total christian effort in education.


Faith Academy Goshen Nasarrawa

front classroom
admin block


Lalasticlala Codetemplar

This is a very ignorant post..y r you acting like Oyedepo is doing Nigeria a favour? don't you know the person that benefits most from this is Oyedepo? is the school free? is the school subsidised?

This a business like any other business..i know because my family owns a school in Lagos that generates million every quarter...what is all this rubbish like we should clap that a great thing has been done..

These schools are built with tithe and offerings of the people and privatised to personal business and you are here talking like a great thing was done..should we clap for him

izzou:
I have never driven on uber, and I was meeting my rental of #30k and servicing every month before I got another hustle

This job needs the grace of God(I believe in God ), but then, it's more than just knowing how to drive a car

You need to learn locations, where to be at specific times of the day(even if it means burning a little fuel to get there)

You also need to set a particular target for yourself. Motivate yourself. There are good days and bad days. So when you get a good day, utilise it well..

People are still making a living from it. So don't be scared by the number of corollas you see on Admiralty on Friday night

Plan your self, and your strategy

And as VictorAD will sing, PRAY FOR GRACE MY GEE

I noticed something while driving then and i dont know if it still happens now..then you might park at a location maybe after a drop off and have other drivers there also waiting for trip..but i noticed that when you drive off maybe trying to move away because of congestion a request enters..this happened to me alot don't know if it still obtains though...

I have never understood how drivers park at either shoprite or especially at billings way and they r just gisting away..seriously arguing and laughing with themselves...i dont know if that still happens though..truth is the job will bring with it good days and bad days but at the end you go dey alright...atleast enough cash to keep body and soul together while you strategise on your next move

On the bad days encourage yourself and dont forget the good dayswhen it comes because it will..also ask questions because some folks are still killing it..

Never assume everybody is struggling..some people know some things we don't know(lockito not inclusive)...ask and learn from the experienced hands...Yes the business might be tougher now agreed but you can still make a decent income maybe not enough to have excesses but far above minimum wage

Richdad50:
A believe in destiny does not mean all things will work for you even if you fold your hands. The word destiny is the fulfillment of a purpose; the capacity you were given by your creator. Everyone has a purpose to fulfill. It is your destiny. Don't be fooled.
There are three stages of life; eternity past, time, and eternity future. We all came from God in eternity past with a purpose to fulfil in time(present life) and to return in eternity future with an account of what was fulfilled in time(our earthly life).

I agree with you on this that we all have a purpose for creation but believe me that many peoples purposes are similar to each other...its like on a football field you have four defenders...four midfielders and two attackers,,even where you have formations using 1 attacker..the truth is any other player on the field can attack the ball and score if the traditional attackers dont even the keeper that is one per team,we all know that defenders also play the role of keeping the ball for their team

My point is no one is special to have a task or purpose that if he doesn't fulfill the purpose or task is defeated entirely...

Richdad50:
The only peron never destined for greatness was Satan.

This my friend is another lie...Satan was destined for greatness like any other angel created as the good book said he was made perfect till iniquity was found in him..our destinies are in our hands bro as we all have been given talents and grace but we must cooperate with that grace to actualise our destinies..

Richdad50:
There is also a significant nos of people webbed into your destiny. In order words, if you fulfill your destiny, some other person webbed into your life fulfilled theirs. If you are successful, he also becomes a success because of your help or otherwise. And if you fail, they fail too. It is a mystery. You will give account to God afterlife not just about the talents you have but also how your talents were used to uplift your webbed fellows. Shocking!

Imagine if Joseph(bible) slept with Portiphar's wife; he would have ended up a chief servant in the house. No one would have known about the 7years of plenty and Famine. Israel(Jacob) and his sons(12 tribes) would have been wiped out of the earth because of hunger. There wouldn't have been an Isreal Nation today because of the action of one man who never thought through or may never know the consequences of his actions.

Friends, every action we do have an equal and opposite reaction. Someone out there is waiting for your rise so that they also can see a light cast on them.

#Richdad

Not true...the nation of Israel or Gods plan is not tied to a man ..if Jacob messed up Yes it will be a set back in Heaven but God will nominate another ..Remember Saul replaced with David.Judas Iscariot was also replaced...Elijah after he complained that he was the only prophet God told him to anoint Elisha ....

God always has a reserve team and no one man is able to truncate the desires or plan of God by his foolishness or disobedience.but i get your point though

Goddys:
Oh my God. What did I just read? A mere mortal professing to be God and Christ and some gullible ones believe.

What is all this? What kinda foolishness is this?

My brother na so we see am ooo...foolishness everywhere

nitigriti:
I remember when I got a trip from FESTAC. This was around 8:00pm. I needed to get out of FESTAC with a trip, so I accepted. This was Taxify. Riders were two guys like that. Starting the trip, I saw Ajah as destination.
Me: "Guys, where in Ajah are we going?"
"Do you know Ogombo Road?”
Me: "Yes, I know Ogombo Road"
"Okay, we are going just a little bit down Ogombo Road"
Me: "Ok"

1 hour 20 minutes later, around 9:30pm, we were at Chevron when these guys told me their final destination was Atican Beach. Atican beach that I know like the back of my hands. I changed it for them immediately.
Me: "You guys didn't tell me Atican Beach is the final destination"
"But Atican Beach is in Ajah"
Me: "Ehen, I didn't know".
I just pulled by the side of 2nd toll gate, parked and ended the trip. Trip fare was #2800 or something.
Me: "I'm not going again, you guys should get down"
"How can you just end the trip like that without telling us? And you expect us to pay when you've not gotten us to our destination ... bla,bla,bla,bla,bla
Me: Don't worry about paying. I'm not collecting anything.

The guys just gentle. They were surprised.
Last last, they negotiated for me to take them to the front of A Adesanya so they can take Keke. They paid the #2800 in full.

Na so

Mjosh1000:
I am currently at Ikeja scared to enter airport, and where m currently parked I have 6 other inmate with me, this place use to be my safe haven b4, now its casted