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‘I Tasted real Poverty and Hardship’ – Popular Pastor, Sam Adeyemi reveals

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Ahead of a leadership conference that he is hosting in November, pastor of Daystar Christian Centre, Sam Adeyemi, speaks on the growth of his brand, AKEEM LASISI writes

As a child, Sam Adeyemi did not enjoy a life of luxury, unlike other children of the affluent. But he certainly experienced modest comfort at a time.

When his father was a civil servant, he had the kind of fun that children of the middle class have. Later when the old man became a contractor, things turned better for the family and life turned rosier for the young Adeyemi.

Unfortunately, life showed the family another card. Old Adeyemi’s business encountered trouble and finally collapsed. Without invitation, poverty stepped in. That is how the proverbial mouth that used to eat beef began to run after bones.

“I tasted poverty and real hardship,” Adeyemi (Sam) says. “I used to brush my teeth without toothpaste.”

According to the pastor, motivational speaker and financial teacher, that singular experience eventually shaped everything he has become in life.

“The experience gave me the capacity for compassion. I cannot forget where I am coming from,” he adds.

He notes that after he accepted Jesus Christ — when he was still an engineering student in a polytechnic — he got a kind of vision in which God situated him in a context where he was teaching a group of people. This happened in the course of a prayer. He found the idea funny initially, as he did not believe he was cut out for teaching. But his decision to heed the signals has transformed his life and the church that he eventually founded — although he found it tough in the first three years of its existence.

Noting that he is sometimes amazed at the progress Daystar has made, he says what hinders the progress of many people and organisations is what he calls the culture of ‘big-mannism’. This is bossing around when one is supposed to be a leader — a leader whose armours ought to be compassion, humility and the urge to develop the potentialities of other people.

Adeyemi says this factor accounts for why Daystar focuses on raising role models.

He adds, “Practically everything we do in our church is about grooming people. We build talents to meet societal needs. We encourage the development of skills and the development of excellence, all targeted towards service.

“There is the need for one to be pure in intent. Life is vanity. It is the things you invest in life that matter. It is the capacity you build in others that counts. No man has any intrinsic value than any other man. Nobody is more important than any other person.”

Adeyemi stepped up the drive a few years ago when he established Daystar Leadership Academy. He is disturbed that although the dearth of quality leadership is the bane of Africa, the value is not included in the curriculum of regular schools. He says the impact that the academy has made in various sectors of the economy has been good, with amazing testimonies.

His main target now, however, is the annual leadership congress the centre is holding this November. He says the centre has assembled notable personalities to speak at the conference themed ‘Maximising your Influence’. Among such are entrepreneurs/managers, such as Folorunso Alakija, Bill Hybela, Julian Kyula, Agu Irukwu, Bimbo Olashore,  Mo Abudu; and Chude Jideonwo.

Adeyemi says, “Discussion has moved from ‘leader’ or ‘boss’ to leadership. Leadership is about influence. It is the ability to move someone from here to there. So, we want them to inspire new leaders, share their stories to the younger generation.”

Adeyemi argues that the true mark of a leader is service. But he laments that true leadership is lacking in vital spaces in Nigeria.

He notes, “I was born in Niger State. I spent my first 10 years there — in a village called Ndayako, near Mokwa. I would never have imagined that I would become somebody that would pastor thousands of people and exert influence in other areas. I was shy. I didn’t think I was a leadership material.

“It was an elderly man in our church then that called me one day, as a teenager, and said, ‘You are a leader’. He gave me a book. It was in the book I first found out that everybody has the quality of a leader. The remaining part you may lack, you cultivate along the line. The principle advanced in the book worked.”

Adeyemi regrets that, although he has cause to relate with people in top positions even in political offices, it is extremely difficult to change many of them.

“The best time to change the President is before he becomes the president. While it is practically too late to teach someone what to do when he already has leadership value defined in his own way, Nigeria is practically a crisis in motion. So, it is impossible for them to listen to you. Of course, many people in government mean well, but they are seriously resisted by the system that has evolved over time.”

 

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

In a bid to ease financial burdens during the holiday season, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N899.50 per litre. This follows a previous price cut to N970 per litre on November 24. The move is aimed at reducing transportation costs for Nigerians as they prepare for festive celebrations.

Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, disclosed the development in a statement, highlighting additional benefits for consumers. Beyond the price reduction, the refinery is introducing a special credit offer. For every litre of PMS purchased on a cash basis, consumers can buy an additional litre on credit, supported by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

“To help reduce transport expenses this holiday season, we’re offering PMS at N899.50 per litre and providing a credit option for additional purchases. This is part of our commitment to making high-quality petroleum products accessible to Nigerians,” Chiejina said.

The refinery also reaffirmed its commitment to providing premium-quality, environmentally-friendly fuel, while ending Nigeria’s dependence on substandard imported products.

With a capacity of 650,000 barrels per day, the Dangote Refinery is the largest single-train refinery in the world, capable of meeting Nigeria’s entire refined petroleum product demand and generating surplus for export. As the festive season approaches, the company expressed gratitude to Nigerians for their support and pledged continued efforts to ease their economic burdens.

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Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

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General Buratai Urges Dangote Not To Succumb To Marketers Blackmail, Reveals Why

Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

We have received numerous inquiries from the media and concerned stakeholders seeking clarification regarding a recent report attributed to the Nigerian National Petroleum Company Limited (NNPCL). The report suggested that NNPCL’s decision to secure a $1 billion loan backed by its crude was instrumental in supporting the Dangote Refinery during liquidity challenges.

Setting the Record Straight: Clarifying NNPCL's Role in the Dangote Refinery Investment

We wish to categorically state that this narrative is a misrepresentation of the facts. The $1 billion referenced constitutes just about 5% of the total investment in building the Dangote Refinery.

Our partnership with NNPCL was established based on their strategic importance as the largest offtaker of Nigerian crude and, at the time, the sole supplier of gasoline into Nigeria. As part of this agreement, a 20% stake in the refinery was valued at $2.76 billion. Of this amount, NNPCL agreed to pay $1 billion upfront, while the remaining balance was structured to be recovered over five years through crude oil supply deductions and dividends.

If we had been facing liquidity challenges, such generous credit terms would not have been feasible. At the time of the agreement in 2021, the refinery was still in its pre-commissioning phase. Any claims suggesting financial struggles are inconsistent with the structure and nature of this agreement.

Regrettably, NNPCL was unable to meet its commitment to supply the agreed 300,000 barrels per day of crude oil due to pre-existing financial commitments tied to their crude cargoes. Given this, we extended a 12-month period for NNPCL to pay cash for the balance of their equity. However, they were unable to meet the deadline, which expired on June 30, 2024. Consequently, NNPCL’s equity stake in the refinery was adjusted to 7.24%.

It is therefore inaccurate to claim that NNPCL facilitated a $1 billion investment amid liquidity challenges. Their $1 billion investment secured a 7.24% ownership stake in the Dangote Refinery, a strategic partnership beneficial to their interests.

NNPCL remains a valued partner, and we urge all stakeholders to adhere to the facts and provide accurate information to ensure proper media representation for the benefit of all stakeholders and the public.

Anthony Chiejina
Group Chief Branding and Communications Officer
18th December, 2024

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

 

MTN Nigeria, the nation’s largest telecom company, pays over N200 billion in Value Added Tax (VAT) monthly, making it the single biggest contributor to the country’s VAT revenue, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.

Speaking at Channels Television’s Town Hall on Tax Reforms, Oyedele highlighted significant disparities in the current VAT allocation system, revealing that all VAT paid by MTN is credited solely to Lagos State, where the company’s headquarters is located, despite the fact that services generating this revenue are consumed nationwide.

“MTN is the largest contributor to VAT in Nigeria,” Oyedele stated. “They pay over N200bn every month, and the gap between them and the second-largest contributor is massive. However, all this VAT is currently allocated to Lagos, even as calls are made across states like Kano, the FCT, Ekiti, Edo, and Kebbi.”

As part of the ongoing tax reform efforts, the committee has proposed a new framework to ensure equitable distribution of VAT revenues based on consumption rather than the corporate headquarters’ location.

Under the proposed redistribution model, Lagos State, which now retains the full N200bn from MTN, would see its share reduced to around 20 per cent. The remaining revenue would be distributed more fairly among other states where the services are consumed.

“This adjustment ensures states where VAT is generated get their fair share,” Oyedele explained. “While Lagos State’s share decreases slightly, every other state stands to gain under the new system.”

The tax reform bill, designed to address inefficiencies and promote fairness in Nigeria’s fiscal policies, has sparked debate among stakeholders. Critics have accused the committee of advancing policies that may negatively impact certain regions.

Oyedele, however, dismissed these claims, arguing that the current system is flawed and in need of urgent correction. “If something is being done wrongly, how can Lagos State or anyone oppose reforms aimed at fixing it?” he questioned.

The proposed reforms, which include provisions for revenue redistribution and efficiency improvements, are seen as pivotal to ensuring fairness and sustainability in Nigeria’s tax system.

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