The Wealth Profile Of The Apostolic Church Nigeria: Net Worth Of Acn
The Apostolic Church Nigeria (TACN) is not only one of the oldest Pentecostal churches in Nigeria but also one of the most influential, both spiritually and economically. With more than a century of existence, the church has grown from a small prayer group to a nationwide and global movement with millions of members, vast properties, educational institutions, and diverse sources of revenue. This blog post takes a deep dive into the wealth profile of The Apostolic Church Nigeria, exploring its historical journey, sources of income, landmark projects, and financial standing.
A Brief Historical Background
The story of TACN dates back to 1918, originating from a prayer group called the “Precious Stone Society,” which was founded by Joseph Shadare in Ijebu Ode, Ogun State. The group later became affiliated with the Faith Tabernacle Congregation in Philadelphia and subsequently with the Apostolic Church in the United Kingdom by 1931. This international affiliation marked a turning point in the structure and organization of the church in Nigeria.
The Apostolic Church Nigeria is deeply rooted in Pentecostal beliefs and practices, with a strong emphasis on holiness, divine healing, spiritual gifts, and the second coming of Christ. From its humble beginnings, the church grew rapidly across the country, establishing over 120 branches by 1938. Today, it is estimated that TACN has over 4.5 million members and thousands of local assemblies spread across all regions of Nigeria and even in parts of the diaspora.
Organizational Structure and Governance
The church operates a centralized system of governance under a National Council. It is divided into territories such as the Lagos, Western and Northern Areas (LAWNA), and other regional councils. Each territory operates semi-independently but remains under the supervision of the National Council.
The current National President of the church is Pastor (Dr.) Sampson Ekwutus Igwe, who oversees national operations and represents the church in both spiritual and civic matters. The leadership of TACN is known for its conservative and structured approach, ensuring discipline and uniformity across its congregations.
The National Temple: A Monument of Spiritual and Financial Might
One of the most iconic symbols of the church's wealth and influence is the National Temple located in Olorunda-Ketu, Lagos State. This magnificent structure, often regarded as one of the largest church auditoriums in the world, seats over 100,000 worshippers. The temple’s construction took more than 30 years and was finally inaugurated on December 4, 2011.
Apart from its spiritual purpose, the temple also signifies the financial strength of the church. Constructed without any known support from government or foreign organizations, the temple is a clear indication of the church’s ability to mobilize resources internally from its membership base and investments. The temple is not just a place of worship but also a center for conventions, conferences, and major national events.
Financial Overview and Net Worth
While religious institutions in Nigeria are not mandated to publicly disclose their financial records, various sources have made attempts to estimate the net worth of The Apostolic Church Nigeria. According to data from PeopleAI, the church’s estimated net worth as of December 2024 was approximately $8.33 million. However, this figure may be a conservative estimate, considering the church’s vast real estate holdings, investments in education, and commercial ventures.
Some of the church’s major assets include:
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Real Estate: The church owns large parcels of land in prime locations across Nigeria. These include the LAWNA territory headquarters along the Lagos-Ibadan expressway, regional headquarters, convention grounds, and numerous church buildings.
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Educational Institutions: In 2011, TACN established Samuel Adegboyega University in Ogwa, Edo State. The university was later renamed Glorious Vision University in 2022. As a private tertiary institution, it contributes to the church’s revenue through tuition and partnerships.
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Commercial Ventures: The church operates various business outfits, especially within its LAWNA headquarters. These include a bakery, a water production plant, media and printing services, and other small-scale enterprises that help generate internal income for maintenance and expansion projects.
Sources of Revenue
Like many religious organizations, The Apostolic Church Nigeria sustains its operations through several sources of income:
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Tithes and Offerings: This remains the backbone of the church’s finances. With a massive membership base across Nigeria, the church receives consistent financial contributions from its congregants weekly, monthly, and during special events.
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Special Donations: During national conventions, anniversary celebrations, and temple fundraising projects, members are encouraged to make generous donations, often running into millions of naira.
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Business Operations: The commercial arms of the church provide essential services like bottled water, bread, and printing, which serve both the church community and the public. These ventures are designed to be self-sustaining and revenue-generating.
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Educational Services: Glorious Vision University is a strategic investment in human capital development and also serves as a long-term income stream for the church.
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Property Development and Leasing: In certain locations, the church leases portions of its properties for commercial purposes, such as markets, shops, and event centers.
Social Impact and Civic Engagement
The Apostolic Church Nigeria is also known for its community service and humanitarian projects. Through its social ministry, the church supports widows, orphans, prisoners, and the less privileged. The goal is to extend the love of Christ to people beyond the four walls of the church.
One of the most notable examples of TACN's civic responsibility was its decision to cooperate with the Osun State government on a road construction project. In 2021, the church agreed to relinquish its Olaiya Junction branch in Osogbo to allow the expansion of a major road. The state government compensated the church with ₦87.9 million, showcasing the church’s willingness to work hand-in-hand with government for public good.
Challenges and Criticisms
As with many large religious organizations, TACN has not been without its share of challenges. Leadership transitions, internal doctrinal disagreements, and legal battles over properties have occurred over the years. However, the church’s structured governance and firm adherence to tradition have helped it remain relatively stable compared to other Pentecostal denominations in Nigeria.
Some critics have questioned the opulence of mega churches in Nigeria in contrast to the economic hardships faced by ordinary members. Nevertheless, TACN has continued to maintain a balance by investing heavily in welfare, education, and infrastructure that benefits its members and society at large.
Conclusion
The Apostolic Church Nigeria is a shining example of how faith, organization, and community can come together to build something truly remarkable. With a rich history, a deep spiritual foundation, and a clear commitment to growth and societal impact, TACN remains one of the wealthiest and most structured churches in Nigeria.
Its economic footprint is evident in its massive auditoriums, real estate holdings, educational investments, and commercial enterprises. More importantly, the church continues to reinvest in its communities, ensuring that its spiritual mission is complemented by meaningful social development. As it looks toward the future, TACN is poised to remain not only a spiritual lighthouse but also a significant player in Nigeria’s socio-economic landscape.
