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, Naijaonpoint 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
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.
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.
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.
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.
Founder, Professor Jide Owoeye