The University of Lagos (UNILAG) has announced an adjustment in the obligatory fees for both returning and new students of the institution.
NAN reports that the institution issued a statement through its communications unit on Friday night in Lagos.
The UNILAG management said the upward review in the fees is with effect from September 1.
A breakdown of UNILAG’s fees puts mandatory charges for one academic session for new undergraduate students at N126,325 for courses without a laboratory/studio.
The university indicated N176,325 as the mandatory charge for one academic session for courses with laboratory and studio.
A breakdown of the fees shows that the mandatory charges for one academic session for new undergraduate students include N126,325, for courses without a laboratory/studio.
A further breakdown of the approved mandatory charges for one academic year or session for returning students showed that they would pay N100,750 for courses without laboratory and studio.
The approved mandatory charges for courses with laboratory and studio according to the statement is N140,250.
UNILAG further stated that the approved charge for all medical students of the institution is N190,250.
It noted that utility charges of N20,000 were to be paid by all undergraduate students, while a total of N30,000 was to be paid by all final-year students.
It said the hike, which is to take effect from the first semester 2023/2024 academic session, became necessary to cushion the harsh economic realities and meet its obligation to its students, staff, and municipal service providers.
Nigeria’s headline inflation rate rose for the sixth consecutive time to 22.79% in June 2023.
Food inflation also rose to 25.25% in the month under review, caused by increases in prices of oil and fat, bread and cereals, fish, potatoes, tubers, fruits, meat, vegetable, milk, cheese, and eggs.
Following President Bola Tinubu’s inauguration after the 2023 polls and the successive announcement of the discontinuation of the petrol subsidy, fuel pump price has also surged by around 225% (from 210 up to 700).
The resultant increase in transportation costs and power generation caused a further spike in the prices of goods and services.
“It is pertinent to note that the university has not increased its obligatory fees in recent years,” UNILAG said.
“Management, therefore, seeks the kind understanding and support of students and other stakeholders with the assurance of its commitment toward ensuring that students get the best learning experience.”
Checks by TheCable reveal that UNILAG students, prior to this review, paid around N19,000 on average for tuition.
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