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
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.
