- The Roman Catholic Church
Over 25 million Nigerians are Catholic members, and there are thousands of Catholic churches spread across the 36 states of the country.
The Catholic Church has the highest population of members and is the wealthiest churches in Nigeria.
Asides from the tithes and offerings, there are thousands of schools and seminaries owned by The Catholic Church that people pay to attend; this is one way they make money.
Also, many wealthy, influential individuals make free will donations to support the missionaries.
- Anglican Church of Nigeria
The Anglican Church of Nigeria has been around since colonial times.
The Anglican Church of Nigeria is the second largest province in Anglican Communion after The Church of England.
The population is estimated to be around 18m baptized members, with about 2m attending worship.
Tithes, offerings, and donations are sources of income for the Anglican Church.
The church owns many schools, seminaries, as well as universities that generate income.
- The Redeemed Christian Church of God (RCCG)
The Redeemed Christian Church of God (RCCG) has around 3,500 parishes spread across the 36 states of the country, with the largest auditorium.
RCCG is the most populated Pentecostal Church in Nigeria, with over 3 million members.
The revenue generated by RCCG yearly is about $2m.
With a population of over 3m members, RCCG generates most of this money from tithes and offerings given by its members.
The church owns a private university called Dominion University in Ibadan.
Many of the RCCG branches equally own primary and secondary schools that people pay to attend.
- Living Faith Church Worldwide
Bishop David Oyedepo founded Living Faith Church (Winners Chapel).
He is the richest pastor in Nigeria and owns a private jet.
The church has over 6 million members in 147 countries.
With many church members, their offerings and tithes are one thing that generates income for the church.
Covenant University, Landmark University, and Faith Academy are owned by Living Faith Church.
All these are what give the church income.
- Deeper Life Christian Ministry
Pastor Williams Folorunsho Kumuyi, the general overseer, founded Deeper Life Christian Ministry.
Deeper Life Church is one of the richest and largest churches in Nigeria with over 3m worshippers; hence their assembly hall, which was once the largest worship center in Africa, with nearly 2m sitting every Sunday.
It cost them about ₦5b to build.
Asides from offerings, tithes, and donations, there is no other known source of funds for the church.
- Christ Embassy
Christ Embassy was founded by Pastor David Oyakhilome in 1987.
The church has grown into a mega church with over 13m members worldwide, with its branches scattered across the 36 States of the Country.
The founder and overseer is on the list of the wealthiest pastors on the continent with over $50m net worth.
He also is one pastor in Nigeria who owns a private jet.
Offerings, tithes, and donations are the primary sources of the church’s income.
However, sometimes in 2015, members were required to pay gate fees before entering the church.
This could be another source of their income, too.
- Mountain of Fire and Miracles Ministry (MFM)
Mountain of Fire and Miracles Ministry (MFM) was founded by Dr. Kolawole Olukoya In 1989.
It was first a prayer ministry that he ran in his home.
He later expanded the ministry by finding a location.
Since then, the church has grown into a mega-church with over a thousand branches nationwide.
Its primary funding sources are offerings, tithes, and charitable donations by members.
MFM has a standard institution, Mountain Top University, in Ogun state, Nigeria.
They also have a registered football club.
All these are what generate funds for the church.
- The Lord’s Chosen Charismatic Revival Movement
Pastor Lazarus Muoka founded the Lord’s Chosen in 2002, and since then, it has grown into a mega church with many members in Nigeria and other countries.
The church has its headquarters in Lagos, Nigeria, with several branches spread across the 36 states of the country.
Their source of funds is the tithes, offerings, and other donations from its members.
They have secondary schools, which generate income for the church.
- Synagogue Church of All Nations (SCOAN)
The late Prophet TB Joshua founded the Synagogue Church of All Nations.
It is a famous church headquartered in Lagos, Nigeria, and has a branch in Ghana.
SCOAN has thousands of members who come from far and near to worship and receive miracles from God.
The church is allegedly said to be worth over ₦10b.
In a broadcast on his popular Television Channel, EmmanuelTV, which was uploaded on YouTube some time ago, the late man of God claimed that the offerings from the members were their source of income.
So, nobody knows if there are other sources of income aside from that.
- House On The Rock
House On The Rock was founded by Pastor Paul Adefarasin, the overseer and head pastor.
The church has several other daughter churches throughout Africa and Europe.
Offerings and tithes are the primary sources of the church’s funds.
House on the Rock hosts an annual program, “The Experience,” with gospel musicians from near and far.
- Christ Apostolic Church (CAC)
The Christ Apostolic Church is also one of the richest churches in Nigeria, with its missionaries headquarters in Ibadan, Nigeria.
The church is also present in the United States of America, Canada, Germany, Italy, and other countries, with several members running in the millions.
CAC has secondary schools and a university known as JABU in honor of Joseph Ayo Babalola.
Conclusion
These churches have sources of income other than offerings, tithes, and donations.
With many members, they realize millions of naira annually from tithes and offerings, and all these are the sources of their income.
