Over the last two decades, private universities in Nigeria have expanded rapidly from just a handful to dozens, offering alternatives to the often overcrowded and strike-prone public institutions.
As of February 2025, there are 149 private universities in Nigeria, making up more than half of the country’s 295 total universities.
Among all these choices, a few stand out for charging fees that most Nigerians can only dream of paying, creating headlines every time school fees are mentioned. These elite universities cater to a small, wealthy segment of society, far removed from what the average Nigerian can afford.
Behind these top-tier institutions are powerful individuals and organizations ranging from religious bodies to business moguls and international investors who have poured resources into building campuses that reflect their vision, values, and status.
In this article, Nairametrics presents a detailed look at the owners and financiers behind Nigeria’s most expensive private universities, those setting the pace not just in pricing, but in shaping the future of premium higher education in the country.
Here is a list of the owners of the most expensive private universities in Nigeria
Covenant University
Founder, David Oyedepo
Covenant University (CU) is a private Christian university owned by the Living Faith Church Worldwide, also known as Winners’ Chapel.
It was founded by David Oyedepo, the presiding Bishop of Living Faith Church Worldwide, who serves as the Chancellor and Chairman of the Board of Regents.
The university is located in Ota, Ogun State. It is affiliated with the Association of Commonwealth Universities, the Association of African Universities, and the National Universities Commission (NUC) and was officially licensed by the NUC in 2002 and opened on October 21, 2002, in Canaanland, Ota.
Covenant University operates a single urban campus in Ota, Ogun State, along Km. 10 Idiroko Road, Canaanland, and offers a wide range of undergraduate, postgraduate, and professional programs across four colleges:
The university’s governance board consists of the Chancellor and Chairman of the Board of Regents, Bishop David Oyedepo, and the Vice-Chancellor, Professor Abiodun Humphrey Adebayo, who oversees daily operations.
The Board of Regents includes church leaders, academics, and external professionals who shape policies and long-term plans. Senior administrators include Osibanjo A. Omotayo and Regina A. Tobi-David as key officers, and also an Academic Council that ensures curriculum quality and compliance with national and international standards.
The tuition fees for most undergraduate programs range from N1,507,650 to N1,704,300 per session, depending on the specific department and course of study.
Redeemer’s University
Founder, Pastor Enoch Adeboye
Redeemer’s University (RUN) is owned by the Redeemed Christian Church of God (RCCG). The university was founded by Pastor Enoch Adeboye, the General Overseer of RCCG.
Adeboye holds a Ph.D. in Applied Mathematics and serves as the Visitor to the university. The university’s vision is to nurture God-fearing, humane citizens who are technologically prepared for a dynamic world, emphasizing high moral standards and shunning vices like drugs, cultism, and violence.
Redeemer’s University was granted an operating license by the Federal Government of Nigeria on January 7, 2005, following the promulgation of Decree No. 9 of 1993, which allowed private universities in Nigeria. The university commenced operations on October 11, 2005, at a temporary site in the Redemption Camp, Mowe, Ogun State, and later transitioned to its permanent campus in Ede in 2014.
Redeemers University offers undergraduate and postgraduate programs across several faculties, having transitioned from a collegiate to a faculty system in the 2019/2020 academic session.
The school fees for the Faculty of Basic Medical Sciences at Redeemer’s University range from N846,500 to N1,636,300 per session, while the Faculty of Law fees range from N1,141,500 to N2,090,000 per session for the 2025/2026 academic year.
American University of Nigeria (AUN)
Founder, Atiku Abubakar
The American University of Nigeria (AUN) is a private, non-profit institution founded in 2003 by Atiku Abubakar, a former Vice President of Nigeria, located in Yola, Adamawa State.
Abubakar envisioned AUN as Africa’s first Development University, focused on addressing regional challenges through an American-style liberal arts education.
The institution was initially named ABTI American University, before being renamed AUN in 2007.
The university is accredited by the National Universities Commission (NUC) and is a member of the Association of American International Colleges and Universities (AAICU).
Governance at AUN is overseen by a Board of Trustees comprising individuals from various backgrounds. The Board of Trustees includes Mr. Akin Kekere-Ekun, Chairman of KPH Consulting; Dr. Margee Ensign, President of AUN; Alhaji Adamu Abubakar, Deputy Managing Director of Intels Nigeria Ltd.; Chief Dr. Mike Adenuga Jr., GCON, founder of Globacom and Conoil; Dr. William Bertrand, co-founder of the Payson Center at Tulane University; H.E. Dr. Gilbert Bukenya, former Vice President of Uganda; Ambassador John Campbell, former U.S. Ambassador to Nigeria, among many others who bring invaluable expertise and leadership to the institution
AUN operates a single campus in Yola, the capital of Adamawa State, spanning over 2,500 acres of former farmland donated by the late Alhaji (Dr.) Aliyu Musdafa, the 11th Lamido Adamawa
AUN’s standard tuition for a 15-credit course load is N1,221,000 per semester, totaling N2,442,000 annually. For specialized programs such as Law, Engineering, Nursing, and Public Health, the fees increase to N1,755,600 per semester.
Bowen University
Visitor to Bowen University and President Baptist Convention, Rev’d Dr. Israel A. Akanji
Bowen University, a private Christian institution located in Iwo, Osun State. It is owned and operated by the Nigerian Baptist Convention (NBC), a longstanding religious organization in Nigeria. Established on July 17, 2001, Bowen is notable for being the first Baptist university in Africa, founded with the mission of blending academic excellence with Christian values.
The university was named in honour of Reverend Thomas Jefferson Bowen, an American missionary who introduced Baptist mission work to Nigeria in 1850. However, the roots of the institution date as far back as 1854, when Bowen’s family laid the foundation for Baptist education in Nigeria by starting a school in Ijaiye Orile, present-day Oyo State. What began as a small class of five stewards and a few curious learners has grown into a vast network of Baptist primary and secondary schools across Nigeria and ultimately, Bowen University.
The institution operates as a non-profit institution, the University’s main campus is situated on a 1,300-acre expanse in Iwo, Osun State.
Governance at Bowen University is overseen by a Council appointed by the Nigerian Baptist Convention. The leadership includes Rev’d Dr. Israel A. Akanji, who serves as the Visitor to the University and President of the Baptist Convention; Rev’d Yusuf Gwadah, the Chancellor; and Deaconess Joan Olatoyosi Ayo, OON, who chairs the Governing Council.
The annual tuition for Medicine & Surgery is N4,600,000, while Law students pay N2,214,677.50 per session. Other programs, such as Accounting, Biochemistry, and Chemistry, have lower tuition fees, ranging from N880,900 to N1,326,486.50 per year.
Lead City University
Founder, Professor Jide Owoeye
Lead City University (LCU) is owned by Eduserve Consult, an educational consultancy group renowned for its contributions to educational development in Ibadan and beyond.
The University was founded by Professor Jide Owoeye, who serves as the Pro-Chancellor and Chairman of the Governing Council. He is also the founder of Eduserve Consult.
He holds a B.Sc. in Sociology from the University of Ibadan, and an M.Sc. and Ph.D. in International Relations from Obafemi Awolowo University, where he later became a professor in 2002. He has authored eight books, including Japan’s Policy in Africa (1992), and received the Professional Excellence Award from the Central Council of Ibadan Indigenes in 2009.
The university operates as a private, non-profit institution, accredited by the National Universities Commission (NUC), focusing on academic excellence and fostering entrepreneurship among its graduates.
The university was originally named City University, Ibadan, before its official establishment in February 2005. The name was then changed to Lead City University, Ibadan, on March 7, 2005, to avoid confusion with other institutions.
Lead City University operates primarily from its main campus in Ibadan, Oyo State, Nigeria, specifically at the Lagos-Ibadan Expressway, Toll Gate Area.
The annual tuition fee for Medicine is N5,525,000. Pharmacy and Nursing students pay N3,025,000 per year, while Dentistry costs N2,525,000 annually.
Afe Babalola University (ABUAD)
Founder, Aare Afe Babalola
Afe Babalola University (ABUAD) is owned by Aare Afe Babalola, a prominent Nigerian lawyer, philanthropist, and Senior Advocate of Nigeria (SAN).
He was born on October 30, 1929, in Ado-Ekiti, Ekiti State, Nigeria, and is a highly respected figure known for his contributions to education, law, and agriculture.
Afe Babalola established ABUAD in 2009 as a private, non-profit institution with his personal resources, driven by his vision to reform Nigeria’s educational system. He is also the Chancellor of the University
The university operates as a non-profit private institution licensed by the Federal Government of Nigeria, with Babalola’s influence ensuring a focus on quality infrastructure and academic rigor.
The university was built on its permanent site in Ado-Ekiti within eight months, a feat noted by the National Universities Commission (NUC) as a miracle due to its rapid development of modern facilities, including college buildings, hostels, and staff quarters. ABUAD began with 101 students and has grown to over 8,000 students, offering programs across six colleges.
Additionally, ABUAD operates the ABUAD Business School in Ibadan, Oyo State, which was upgraded from the Afe Babalola International Study Centre (ABISC) in 2022 following NUC approval.
The tuition for Medicine and Surgery at Afe Babalola University starts at N4,670,000 for the first year, with subsequent years costing N5,555,000 per session.
For other programs, fees range from N1,114,500 to N3,718,000 annually, depending on the level and course of study.
Pan-Atlantic University
Chairman governing council Pan-Atlantic University, Mr. Henry Odein Ajumogobia
Pan-Atlantic University (PAU) is a private, non-profit institution located in Lagos State. The university evolved from the Lagos Business School (LBS), which began offering executive education programs in 1991.
The founders of Pan-Atlantic University were inspired by the teachings of St. Josemaría Escrivá, the founder of Opus Dei. St. Josemaría emphasized that work done well is a means of personal fulfillment, spiritual growth, and service to others. He encouraged members of Opus Dei to collaborate with others in initiating social projects that serve community needs.
It was officially established as a university in 2002, licensed by the National Universities Commission (NUC), and began offering undergraduate programs in 2004. The university has since expanded its academic offerings while maintaining its Catholic-inspired ethos.
PAU operates two main campuses, one located in Ibeju-Lekki, Lagos, along the Lekki-Epe Expressway. This campus houses most undergraduate programs and features modern facilities like lecture halls, a library, and student residences. The second campus is in Ajah and primarily hosts the Lagos Business School and other postgraduate programs.
The Governing Council, the highest decision-making body of Pan-Atlantic University, is chaired by Mr. Henry Odein Ajumogobia, SAN, OFR, with members including Prof. Enase Okonedo (Vice-Chancellor), Dr. Peter Bamkole (Deputy Vice-Chancellor), and others such as Mrs. Ibukun Awosika, Chief Sena Anthony, and Mr. Ikechukwu Onuoma, SAN.
The tuition and fees for the 2024/2025 academic session range from N4,157,000 to N6,366,500 per session, depending on the program.
Nile University of Nigeria
CEO Honoris United Universities, Luis Lopez
Nile University of Nigeria is owned by Honoris United Universities, a pan-African private higher education network backed by Actis Capital, a global investment firm focused on sustainable infrastructure in emerging markets.
It was previously owned by First Surat Nigerian Ltd, owners of Nigerian Tulip Schools, before its acquisition by Honoris United Universities in July 2020, marking its first entry into West Africa. The network comprises 16 institutions across 10 African countries, with over 100,000 students on 76 campuses in 26 cities.
CEO of Honoris United Universities, Luis Lopez, is a key figure associated with the network’s leadership. Lopez has emphasized the strategic importance of Nile University’s acquisition for expanding access to quality education in Nigeria and enhancing the network’s collaborative intelligence and pedagogical capabilities.
Nile University of Nigeria was established in 2009 to provide high-quality education to Nigeria’s growing number of secondary school leavers.
The university operates a single main campus located at Plot 681, Cadastral Zone C-OO, Research & Institution Area, Jabi Airport Bypass in Abuja. The 113-hectare campus includes modern learning environments, sports facilities, and secure hostels.
The tuition fees at Nile University vary based on the program, with Medicine being the most expensive. For Medicine & Surgery, students pay N6,500,000 per session, Law is N4,250,000 per session, and others range from N2,800,000 to N3,500,000 annually, depending on the specific course of study.
For other programs, such as Law and Engineering, the tuition fees range from N2,900,000 to N3,000,000 annually, depending on the specific course of study.
Babcock University
Babcock University Chairperson, Bassey Effiong Okon Udoh
Babcock University (BU) is a private, co-educational institution owned and operated by the Seventh-day Adventist Church in Nigeria.
It is part of the world’s second-largest Christian school system, located in Ilishan-Remo, Ogun State, Nigeria.
The university was named after David C. Babcock, an American missionary who pioneered Adventist work in Nigeria in 1914, based in Erunmu, Oyo State. BU aims to prepare students for useful and joy-filled lives through Bible-based values, selfless service, and character development, fostering integrity, self-discipline, and spiritual leadership.
Babcock University began as the Adventist College of West Africa (ACWA) on September 17, 1959, with seven students hosted at the home of Chief Olufemi Okulaja in Ilishan-Remo. It was renamed the Adventist Seminary of West Africa (ASWA) in 1975. The institution was officially inaugurated as Babcock University on April 20, 1999, becoming one of Nigeria’s first three private universities licensed by the National Universities Commission (NUC). It was formally recognized by the Federal Government on May 10, 1999.
At the helm of the institution’s governance is Chairperson Bassey Effiong Okon Udoh, the university’s President, Professor Ademola S. Tayo, supported by two Vice Presidents, Professor Amanze Philemon and Professor Haliso Yacob.
For the medicine & surgery program, students pay from N5,500,000 to N7,000,000 per session, depending on the level; law students pay N2,000,000. Other courses are between N800,000 to N1,500,000. Accommodation fees are between 300,000 to 600,000, depending on the hostel type.
Wigwe University
Founder, late Dr. Herbert Onyewumbu Wigwe
Wigwe University is owned and founded by the late Dr. Herbert Onyewumbu Wigwe, former Group Managing Director and CEO of Access Bank Plc.
Herbert Wigwe, a visionary banker and philanthropist, established the university to provide world-class education to African students.
Tragically, Wigwe, along with his wife Chizoba and son Chizzy, died in a helicopter crash in California on February 9, 2024, before the university’s official opening. Despite this loss, the university commenced operations in honor of his legacy.
The National Universities Commission (NUC) approved and issued an operational license to the university on June 9, 2023. Wigwe University officially began academic activities in August/September 2024, with its first set of students admitted on October 17, 2024. The university admitted over 200 students in its inaugural year.
Wigwe University is located in Isiokpo, Ikwerre Local Government Area, Rivers State. The University offers a diverse range of programs across six colleges: Arts, Engineering, Management and Social Sciences, Science and Computing, Allied Health, and Agriculture and Natural Sciences.
Wigwe University is ranked as Nigeria’s most expensive university, with fees reflecting its premium facilities and academic offerings.
The tuition and fees for the 2024/2025 academic session are outlined below, with a breakdown by college. Students in the College of Arts will pay N9,600,000, while those in the College of Engineering, College of Management and Social Sciences, and College of Science and Computing will each pay N11,998,800.
The accommodation fees for the 2024/2025 academic session vary based on room type. Students can choose from several plans, with the Premium One En-Suite Bedroom Plan priced at N3,845,000 per session. The Classic 1 Plan costs N3,707,000 per session, while the Classic 2 Plan is available for N3,500,000 per session.
