psucc:
If I fail, my children shall surely send their children to schools of this nature. I am laying a foundation for them to build on.

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.

gobuchinny:


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

gobuchinny:


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

1Sharon:


Does the school give free education?

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.

HigherEd:

From legit.ng it allegedly cost 270,000

https://www.google.com/amp/s/www.legit.ng/amp/1127579-faith-academy-ota-school-fees.html

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

sanandreas:
A man with vision whose aim is to transform lives. When next an atheist or olodo freezer ask what we use our tithe money for, show him these pictures. We must continue the legacy's of the early missionaries.

HigherEd:

Chai who did this to you...
Let me think in your very line of thought.
Do you think Dangote actually really cares about your economy? His business choices are probably more driven by desire to make profits than the desire for national growth. But we can't deny that his businesses have helped create jobs and grown the economy to a certain degree. So in a way Dangote is actually doing Nigeria a favour. In the same way Oyedepo is doing Nigeria a favour by creating schools that can discourage education tourism abroad, schools that can free spaces for poor people in public schools and actually providing quality education with sound biblical and moral learning that can better the nation.

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..

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 don't govt schools appreciate naturally?
plus the bolded is speculative and the school still remains nameless A. K. A. speculation
Your brain must be liquid sir. No offense intended.

sanandreas:


Nothing is free except the air you breathe in and it is even conditional.

gobuchinny:


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

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?

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?

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.

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

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.

1Sharon:


If you are on a low income you pay NONE of those.

Don't don't even try to compare paying taxes to paying the full amount for a service

I like how you ignored the part on free healthcare in Nigeria

CodeTemplar:

Who pays for it?

1Sharon:


Pays for what?

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?

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.

samyyoung1:


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