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
Visitor to Bowen University and President Baptist Convention, Rev’d Dr. Israel A. Akanji
Bowen University is 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.
