By Sam Agogo
Seventeen years ago, when the iPhone first appeared on the global stage, it was more than a piece of technology. It was a symbol of prestige, a badge of modernity, and one of the most expensive consumer items available at the time. In Nigeria and across Africa, owning one was seen as proof of success. Yet, in the midst of this frenzy, Pastor Olumide Emmanuel issued a warning that has lost none of its relevance: “If you have an iPhone and you don’t have land in your name, you are a fool.” His words were not aimed at condemning luxury, but at exposing the folly of misplaced priorities.
The reality was clear even then. Many who came into sudden wealth—whether through contracts, business deals, or political appointments—chose to spend lavishly on cars, jewelry, clothes, and gadgets. These items, while glamorous, lost value almost immediately. The cycle was predictable: fortunes were squandered, assets were never acquired, and years later, those same individuals found themselves living in rented apartments, struggling to maintain a lifestyle that had no foundation.
Stories abound of people who received millions of naira and chose to invest in vanity rather than value. Some spent fortunes on imported hair, designer bags, and shoes. Others filled their wardrobes with clothes they barely wore, or adorned themselves with jewelry that could only be resold at a fraction of its cost. One man, after receiving a contract worth ₦20 million, used ₦15 million to buy a luxury car, rented a house with part of the remainder, and spent the rest on enjoyment. At the time, it seemed like a life of success. But years later, the car had depreciated, the rent had expired, and the money was gone. He remained in a rented apartment, with no property, no business, and no lasting investment to show for his opportunity.
These examples are not isolated. They reflect a wider culture where wealth is measured by display rather than by security. The obsession with consumption has left many trapped in cycles of poverty, unable to break free because their resources were poured into items that fade, depreciate, or become obsolete.
The contrast with those who invested wisely is striking. One politician, long before he rose to prominence, made land his priority. Whenever someone had property to sell, he was ready to pay immediately. He did not chase after the latest cars or gadgets; he quietly accumulated land. Today, those parcels of land are worth billions. His story is a reminder that wealth is not about display, but about foresight. While others flaunted fleeting luxuries, he built a foundation that continues to grow in value.
Time, of course, does not wait. The strength we had 10 or 15 years ago is fading. At old age, sustaining a flamboyant lifestyle becomes impossible. For many, the only option is to retreat to the village. There is no shame in returning home, but in our society, it often symbolizes decline. Death is inevitable, but dying in poverty is humiliating. The little strength we have now should be used to sacrifice and invest, so that tomorrow we can celebrate.
Africa’s richest man, Aliko Dangote, once revealed that he had instructed his family to channel a quarter of his wealth into his foundation upon his death. That is legacy. It is not about how many cars or airplanes one owns, but about what remains after one is gone. Contrast this with those who spend fortunes on luxury items that depreciate almost instantly. A Jeep released in 2026 will be replaced by another before the year ends, yet many will rush to buy the latest model just to show off. After the show, what next? The cycle of consumption continues, while wealth creation is ignored.
The truth is simple: property appreciates, gold retains value, and businesses generate income. These are assets that secure the future. Luxury items, on the other hand, fade, depreciate, and become obsolete. The question is not whether one should enjoy life, but whether enjoyment should come at the expense of tomorrow.
Seventeen years later, Pastor Olumide Emmanuel’s words ring louder than ever. At the time, the iPhone was one of the most expensive gadgets in the world, yet many chose it over land or property. Today, the lesson remains unchanged. Wealth is not about consumption, but about creation. The time to invest is now.
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