A Master’s in Business Administration (MBA) program has historically been a rewarding academic qualification, typically attracting high tuition fees in Nigeria and globally.
However, with the cost-of-living crisis, these institutions have significantly raised their fees further by up to 66% in recent times.
An example is the University of Lagos Business School which raised its fees from N3 million in 2022 to N5 million currently.
This cost may not be unconnected to the rising demand for MBA qualifications as 60% of Sub-Saharan Africa’s booming population is under 25 years of age with an active working-class population according to the World Economic Forum.
The resources available at top MBA programs are evident factors contributing to the high costs. For instance, many schools prioritize hiring professors with extensive industry experience and strong academic credentials, significantly enhancing the learning experience.
Additionally, these institutions invest in expert faculty, advanced on-campus resources, innovation labs, and other advanced school resources.
Consequently, the overall value provided by the degree plays a key role in the region’s economic transformation.
Many of these programs also integrate real-world consulting projects and other experiential learning, as well as career fairs, workshops, and coaching sessions, which further add to the overall expense of offering an MBA program.
Despite these high initial costs, pursuing an MBA typically offers a substantial return on investment (ROI), as MBA graduates can expect to see considerable financial benefits from their degree.
When considering the expense of studying for an MBA program in the United States, United Kingdom, and countries in the African continent, these universities provide a much cheaper option.
In this article, Nairametrics examines the tuition fees of a few popular MBA schools in Nigeria in comparison with the top MBA schools in the US, UK, and across some countries in Africa.
Information on the tuition was made available on the websites or via phone calls to appropriate authorities to obtain the updated tuition fee information.
Owner of the school: Covenant University was founded by Bishop David Oyedepo founded in 2002
Description of MBA Program: Offers a Master of Business Administration (MBA) degree Programme with options in Finance, Industrial relations & HRM, Management and Marketing. Postgraduate students may benefit from the Student exchange programme to conduct their research in laboratories in some partner foreign Universities, as well as internships
Duration: Two-year
Requirement: Must possess a Bachelor’s degree in any discipline with not less than a Second Class Lower Division (minimum 3.00 over 5.00 Grade Point CGPA) from Covenant University or any other university recognized by the Senate.
Fee: Its MBA program is N2,104,440. The university offers international scholarships, fellowships, or grants from foundations, trusts, and corporate bodies to both local and international students
Payment terms: Per session
