There are few Nigerian Pastors who are making cool money from real estate investment. These Pastors have heavily invested in the last few years in the real estate sector and today, they are reaping the seed they sowed.
The idea that being a pastor means you have to be impoverished is long gone. Nowadays, many clergies also double as serial entrepreneurs. The display of entrepreneurial skills by some of these Nigerian pastors has disrupted this mindset.
Even though some have been chastised for their wealth, these individuals continue to find new income streams and make more money.
This week, City People brings to you 5 Nigerian Pastors making cool money from the real estate sector.
The first on the list is David Oyedepo, founder of Living Faith tabernacle ministry, Winners Chapel, he is one of Nigeria’s wealthiest clergies. Beyond being a sound preacher, he is a successful real estate player whose various investments in the sector can never be ignored especially in Ogun State where the head quarters of the church is located. Oyedepo is the biggest land owner in Ogun State currently. He’s also the owner of the biggest auditorium located in Otta where thousands of people worship. Let us also tell you that apart from these investments he also has property located around Ayobo area of Lagos. He has churches built with hostel where members are lodged around the state. A Google search of his exploit in real estate will convince you further.
The second person is Pastor Tunde Bakare. The respected man of God is the senior pastor and founder of Citadel Community Church, formally known as the Latter Rain Assembly, Tunde Bakare is the owner a new mega-church (The Citadel). The project, is reportedly worth N18 billion. Apart from this, he also has various properties around Lagos. He has a lot of structures in Ikeja especially. These are properties he’s acquired many years back. Some of them are not necessarily churches but they are money-yielding properties. He’s one of the few pastors in Lagos today with many investments tied around real estate.
Another pastor in this category is Paul Adefarasin of the House on the Rock. He is one pastor who has been vocal about wealth creation using real estate as a vehicle. He constantly tells his congregants about real estate as one of the surest ways to make money. He’s making cool money from real estate. A few years back he told his story on how he makes big and cool money from real estate. According to him:
My father bought land for something like £2000, nearly 50 years ago on Victoria Island. It was Federal Government or Lagos state government allocation on Akin Adesola. From the revenue he generated from building the house for free, because G-Cappa built it for him for free and collected the rent for 5-10 years and that was the payment for the house. That house or the two houses he built there, paid my education and my brother’s education in the finest schools in the world. After it paid for my education and generated revenue, my family decided they were going to liquidate the property and they liquidated it and the value that came to me in my equity was phenomenal, from £2000, 50 years ago. It provided for me nearly the value of a million dollars.
You don’t know but that land you buy today for peanuts will be millions tomorrow for your children to inherit, he said.
Also making cool money from real estate is popular KICC Pastor. Pastor Matthew Ashimolowo, he is one of Nigeria’s biggest pastors. He is the founder of KICC, which has become a big church with branches across the world. Apart from his ever growing church, he has other passions, like writing books and taking up speaking engagements all over the world. Today he is a big real estate player. He is a big land owner in Lagos and he is reputed to own large acres of land scattered around Lagos. And he is making big money from them.
A few months back he launched a big real estate product, which is located around Lekki/Ibeju axis. It’s a large expanse of land where a lot of people are going to buy land for their big projects.
What about Pastor Adeboye? Talk of the biggest auditorium that was commissioned a few years back to host 12 million people. This is by far the biggest auditorium in Nigeria. Apart from this, Pastor Adeboye has several houses; hundreds of houses where people are lodged. These are people who come for prayers. Before the opening of this new auditorium, we have a Redeemption camp where thousands of workers gather for prayers and it’s also massive real estate investment. This man is arguably one of the highest investors when it comes to real estate in Nigeria.
Another pastor on our list is Barrister Remi Adebiyi. He is a big real estate player in Lagos. He is the Chairman of Mercyland Estates Limited which is into Estate Agency, Property Development, Property Documentation & Regularisation, Real Estate Investment Advisory Service and many other real estate consultancy services. He is a Provincial Pastor of the Redeemed Christian Church of God.
Isaac Abimbade
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