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 
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.
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