When Nigeria recalculated its GDP in March, its economy became Africa’s biggest, as previously poorly captured sectors such as mobile phones, e-commerce and its prolific “Nollywood” entertainment industry were specifically included in estimates.
There was no such separate listing for the “megachurches”, whose main source of income is “tithe”, the 10 per cent or so of their income that followers are asked to contribute.
As the churches have charity status, they have no obligation to open their books, and certainly do not have to fill in tax returns – an exemption increasingly controversial in Nigeria, where poverty remains pervasive despite the oil riches.
The pastors argue their charity work should exempt them.
“We use the income of the church to build schools, we use the income of the church to serve the needs of the poor,” David Oyedepo, bishop of the popular Winners Chapel, told Reuters in an interview. “These are non-profit organisations.”
Nonetheless, the surging popularity of the megachurches among the Christians who make up half of Nigeria’s 170 million population has propelled their preachers into the ranks of the richest people in Africa.
In 2011, Forbes magazine estimated the fortunes of Nigeria’s five richest pastors. Oyedepo topped the list, with an estimated net worth of $150 million (Sh13.4 billion).
He was followed by “Pastor Chris” Oyakhilome of Believers’ LoveWorld Incorporated, also known as the Christ Embassy and popular with executives and politicians, on $30 million to $50 million (Sh4.5 billion).
TB Joshua, pastor of the Synagogue Church of All Nations, at the centre of the recent diplomatic storm over the deaths in its guesthouse, was thought to have $10 million to $15 million (Sh1.3 billion).
