5 [There is] one Lord, one faith, one baptism,6 One God and Father of [us] all, Who is above all [Sovereign over all], pervading all and [living] in [us] all.7 Yet grace (God’s unmerited favor) was given to each of us individually [not indiscriminately, but in different ways] in proportion to the measure of Christ’s [rich and bounteous] gift.8 Therefore it is said, When He ascended on high, He led captivity captive [He led a train of vanquished foes] and He bestowed gifts on men.
Paul first mentions that there is only one Lord. Really what he is saying is that there is only one solution to the sin issue, and eternal life. There are not a number of solutions available. God and Christ are the only way the only faith, the only baptism He is over all and above all. He lives in us all.
V7 God grace is not a even portion spread about to all believers.It is given in proportion to Christ’s gift. It is dispensed as needed. Paul also says that it is given in different ways. He is God! He can do what ever he wants. Because He is God, he is aware of what is needed when it is needed, and how to get it done more than we can even imagine. It is worth putting our faith in Him, he will come through.
V8 When Christ ascended on High, this is when he took the enemy and brought them in to captivity, but also the time when he bestowed gifts to men.