News

FG Raises Application Fee For Establishment Of Private University

Published

1 year ago

February 12, 2025

Editor

The Federal Government has raised the fees for purchasing and processing of application forms for new private universities to N30 million.

The amount, according to the National Universities Commission, NUC, include a N5 million for application form and a N25 million as processing fee, respectively.

The NUC, in a statement to this effect on Monday,equally announced imposition of a one year moratorium on establishment of new private universities in the country.

To this effect, the commission said it has suspended all inactive applications including those of private open universities for a period of one year.

The statement signed by NUC Executive Secretary, Prof. Abdullahi Ribadu, explained that the one-year moratorium affects applicants that have not made progress on their applications or made submissions to the Commission for upwards of two years.

The NUC boss said the review of the application fee and other guidelines for establishment of private universities was in line with the provisions of the Education, National Minimum Standards and Establishment of Institutions, Act, CAP E3, Laws of the Federation of Nigeria, 2004.

He added that the law empowers the commission to provide guidelines for the establishment of all private universities in the country.

According to him, the fee for purchase of application forms for the establishment of a private university is reviewed from N1 million Naira to N5 million while the processing fee for the application is reviewed from N5 million to N25 million.

“The NUC will convey the reviewed Processing Fee of Twenty-Five Million (N25,000,000.00) Naira to applicants that have purchased Application Forms only.

“They are also expected to effect payments within a period of thirty (30) working days or risk forfeiture of their pending applications,” the statement read.

He stated that the move is part efforts to reposition Private Universities in Nigeria to better meet the needs of the citizenry and for better co-ordination of the development of the Private University Education sub-sector of the Nigerian University System, NUS.

“This is to ensure that newly established private universities are positioned to meet the challenges of the 21 Century,” he said.

He therefore informed promoters of proposed Private Universities in particular and the general public
that the suspension affects applications at the stage of submission of letters of Intent only.

“The Commission hereby imposes a Moratorium for a period of one year with effect from Monday, 10th February, 2025 on:

“Inactive applications for the establishment of new private universities to enable the Commission to conduct a comprehensive review of such pending applications with a view to determining their viability;

“Applications on Step 1 of the 14-Step Procedure (i.e. those that have submitted Letters of Intent only), and

“Acceptance of fresh applications for the establishment of private universities, including private open universities,” he said.

The NUC boss further announced that the Commission is in the process of reviewing other aspects of the Guidelines for the Establishment of Private Universities in Nigeria to ensure that the proposed Universities, when licensed, are positioned to meet the challenges of the 21 Century.

“Details of the review would be communicated to Stakeholders in due course. For the avoidance of doubt, the Commission will continue to process pending active. applications and make appropriate recommendations to the Federal Executive Council for approval,” he said.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

2 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

4 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.