If you’ve landed on this article page, you’re probably searching for a
good business idea—an idea that’s light on the pocket but heavy on
returns, promising both a fulfilling journey and potential profit.
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How to Setup a Private University in
Nigeria
Setting up a private university in Nigeria is big business. You
should have the financial resources to pursue this opportunity
as this can run into the hundreds of millions or billions as the
case may be. However, there are several other requirements to be
met before qualifying for obtaining a license. The National
Universities Commission NUC is the federal agency saddled with
the responsibility of registering new universities. Hence there
are minimum requirements or standards set by the NUC for
registration of private universities.
The Need for Private University Education in Nigeria
There is steady population growth in Nigeria. With this growth
comes an accompanying need for an adequate number of educational
institutions to cater for the educational needs of the
population. However, there seems to be a shortage in the number
of these institutions of learning especially at the tertiary
level. This is coupled with the preference for university
education among Nigerians.
Another advantage of private university education in Nigeria is
that students have a definite timeline for graduation. Unlike
public universities where academic calendars are punctuated by
strike actions, private universities are shielded from these
problems. Private universities also have an added advantage of
quality education
A Realtor would say, “location location location”; everything is
about location. For approval and accreditation, a university
need to have a minimum of easily accessible 100 hectares of
land. Disassembled or put together, you need evidence of land
proving your ability to house standard university structures
like faculty buildings, lecture halls, hostels, accommodation,
staff quarters, administrative buildings, sports facilities,
hospitals etc.
Academic staffing must also be considered. Each department in
the university is expected to have a staff list of professors,
associate professors, senior lecturers, lecturers, assistant
lecturers and associate lecturers. Very few universities in
Nigeria boast of a rich list of academic staff. Most make up for
it by hiring a lot of adjunct lecturers.
The fundamental quest to make money is behind the surge in
multi-national entrepreneurs investing in the sector. They are
capitalists and are bent on maximising profit.
The lacuna in public universities which ranges from strikes,
poor infrastructure, and brain drain, among others, is fueled by
the inability of the government to fund the education sector,
and has invariably created windows of investment for these
serial entrepreneurs.
Now, there’s a gap and they are businessmen providing solutions
because most parents will want their children to finish on time
and for those that can’t go abroad, they turn to private
universities. Also, it is not in the place of these men to fund
public universities. People invest in private universities
because it is a business that will yield profit and the
probability of it folding up is very low.
Private individuals investing in the university business is a
usual trend where economic principles come into play when the
government fails in its obligations.
Whenever government services are terrible, private investors
fill in the gap. It happens in the health sector; it happens in
broadcasting, it is happening in security now. When government
fails, private investors cash in on the opportunity..
Our education is in crisis, and needs help, if an individual
decides to venture into the tertiary education business, it’s
not wrong provided he or she is doing it within the confines of
the law and with his/her money.
Starting a university in Nigeria requires tremendous diligence,
hard work and careful planning. It is possible, but it is
crucial to count the cost before starting and not go under only
after a few years. Get our resource information on how to set up a private University in Nigeria. This comprehensive information provides valuable insights and strategic guidance for setting up a private University in Nigeria. Our in house educational consultants are ready to help you through the registration procedure with the Nigeria University Commission. Our helpful guide will provide adequate guide from conception to Completion.
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