The Federal Government has significantly increased the financial requirements for setting up private universities in Nigeria. According to a memo released by the National Universities Commission (NUC) on February 10, 2025, the processing fee for establishing a private university has been raised from ₦5 million to ₦25 million, while the cost of application forms has jumped from ₦1 million to ₦5 million. This move, directed by the Minister of Education, is aimed at improving the quality and coordination of private university education in Nigeria.
The NUC stated that the new fees are part of a broader strategy to ensure that new private universities can meet 21st-century challenges. Additionally, applications that have remained inactive for over two years, including private open universities, will no longer be processed. The commission has also given applicants who have already purchased forms a 30-day deadline to complete their payments or risk losing their application status.
This development marks a major shift in Nigeria’s higher education landscape, as the increased costs could make it more challenging for new institutions to enter the market. While the government aims to strengthen private universities, the higher financial barrier may discourage prospective investors, potentially limiting educational expansion in the country.