Why public universities might start charging N1m tuition fee – LASU ex-VC

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Ibiyemi Olatunji-Bello

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Former Vice Chancellor of Lagos State University, Ibiyemi Olatunji-Bello, has said public universities in Nigeria may need to charge at least N1 million per student annually to achieve financial sustainability.

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Olatunji-Bello, whose five-year tenure ended on Saturday, made the comment in an exclusive interview with Punch.

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She identified inadequate funding as one of the major challenges facing public universities, noting that LASU’s internally generated revenue had grown significantly but remained insufficient to meet its financial obligations.

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According to the former vice chancellor, LASU currently spends more than N1 billion monthly on salaries, while its annual internally generated revenue stands at about N13 billion.

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“Universities can achieve financial self-sustainability. If they can innovate and ensure improvements in the institution, money will come in,” she said.

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“But then, if the money comes in, how do you spend it? Right now, LASU does not have financial self-sustainability.

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“Our payroll right now is over N1 billion per month. All the N13 billion IGR does not cover our salaries.”

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Olatunji-Bello said universities seeking financial independence would therefore have to significantly increase their tuition fees.

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“So, universities that want to attain self-sustainability will have to increase school fees into millions,” she said.

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She added that some secondary schools already charge more than N1 million per term, while some public universities still collect around N100,000 annually.

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“So, any public university that wants to sustain financial independence will have to charge school fees of not less than N1 million per student,” the former vice chancellor said.

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Olatunji-Bello also stressed that maintaining quality education requires substantial funding, urging parents to prioritise the education of their children.

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“Good quality education needs money,” she said.

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During her five-year tenure, Olatunji-Bello said LASU increased its internally generated revenue from about N3 billion to N13 billion through new programmes, digital initiatives and other revenue-generating efforts.

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She identified a 2024 Students’ Union protest over a N10,000 payment for computer-based testing as the lowest point of her administration.

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However, she described LASU’s emergence as the most subscribed university among UTME candidates in 2025 as one of the major highlights of her tenure.

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“When JAMB declared that we were the most subscribed university by UTME candidates in Nigeria; that was great for me,” she said.

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“And this year, 2026, we maintained that number one position. And not only did we maintain it, but we were even awarded N25 million for maintaining compliance with JAMB regulations.”

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