Rolls-Royce gifts to Oyedepo: A good investment? By Lolu Akinwumi
I recently received a message following my Facebook comments on the two pastors who gifted Bishop Oyedepo with two Rolls-Royce Cullinans.
The writer acknowledged that my remarks were fair and balanced but was curious about what I would have done if I was in the shoes of the pastors who gave those luxury cars.
To me, the answer is quite straightforward.
Firstly, I don’t believe the pastors did anything illegal or sinful. From their perspective, they probably wanted to honour Bishop Oyedepo in a significant way, and there’s certainly nothing wrong with giving honour.
However, a Rolls-Royce Cullinan, costing around £300,000 or approximately ₦1 billion when you factor in duties and taxes, is still just a car. If, as reported, two such vehicles were given, we are talking about a value of roughly ₦2 billion by the time you also add insurance.
But here’s the thing: cars are depreciating assets. As soon as you drive them out of the showroom, they begin to lose value—and that continues every day.
If it were me in that position, I would focus on giving A GIFT THAT KEEPS ON GIVING. What do I mean?
Rather than gifting cars, I would consider investing that money in an interest-bearing fund or other long-term investment vehicle. The returns from this investment could then be channeled into a foundation, say the David Oyedepo Foundation, dedicated to supporting initiatives like:
- Educating underprivileged but bright students, enabling them to achieve the highest levels of academic success.
- Providing critical medical care to those who can’t afford life-saving surgeries or treatments.
- Growing the initial investment, ensuring that the capital continues to appreciate while making a lasting impact.
- Building a lasting legacy, one that lives on long after the cars have depreciated.
In a few years, I doubt the value of the two Rolls-Royces could match the long-term benefits of an investment aimed at transforming lives and communities.
Cars will come and go, but investments that empower the next generation and save lives will continue to yield dividends—both tangible and intangible—for years to come. And this is a legacy that lasts longer and will not attract any disputations.
I am in no way disparaging the pastors or condemning them. I have only shared what I would have done in their shoes.
Lolu Akinwumi is the Group CEO of Prima Garnet, Lagos.
