If you’re a parent in Nigeria today, chances are you’ve felt the pinch of rising school fees. Whether your child is in a primary, secondary, or tertiary institution, the cost of education has become one of the most pressing household concerns in recent years. But just how much have things changed?
To understand this shift, we need to zoom out and look at the bigger picture—starting with the economy.
According to the latest report from the National Bureau of Statistics (NBS), Nigeria’s inflation rate currently sits at a staggering 24.23%. That’s not just a statistic—it’s a daily reality. It’s the reason your bag of rice now costs double, why transportation eats up more of your monthly budget, and yes, why your child’s school fees have quietly (or not-so-quietly) tripled or even quadrupled.
Schools, like any other institution, have bills to pay. From diesel to run generators, to imported teaching materials, to salaries for staff who are also grappling with rising living costs, the operating expenses have also ballooned in a ripple effect. And when schools pay more to stay afloat, parents inevitably pay more to keep their children enrolled.
So, how did we get here? How does this reality compare to what we had a decade ago, and, most importantly, what can you do to outrun this?
Economic Context: 2015 vs. 2025
| Indicator | 2015 | 2025 (Est.) |
| Exchange Rate (₦/$1) | ₦199 | ₦1,611 |
| Inflation Rate | ~8% | ~24.23% |
| Minimum Wage | ₦18,000 | ₦70,000 |
| Unemployment Rate | ~10.4% | ~4.84% |
| Poverty Rate | ~89.50% | ~90.8% |
Sources: NBS, CBN, Statista, Macrotrends
School Fees Comparison by Education Level
1. Nursery and Primary Schools
| School Type | Average Fees (2015) | Average Fees (2025) | % Increase |
| Public | ₦1,500 – ₦5,000/term | ₦5,000 – ₦15,000/term | ~200% |
| Private (Low-cost) | ₦10,000 – ₦30,000 | ₦50,000 – ₦150,000 | ~400% |
| Private (High-end) | ₦100,000 – ₦300,000 | ₦400,000 – ₦1,200,000 | ~300% |
Parents now pay significantly more for early childhood education, especially in major cities like Lagos, Abuja, and Port Harcourt. The rise in demand for quality facilities, security, and foreign curricula has driven prices upwards.
2. Secondary Schools
| School Type | Average Fees (2015) | Average Fees (2025) | % Increase |
| Public | ₦5,000 – ₦15,000/term | ₦15,000 – ₦50,000/term | ~233% |
| Private (Low-cost) | ₦30,000 – ₦70,000 | ₦100,000 – ₦300,000 | ~300% |
| Private (High-end) | ₦300,000 – ₦1M+ | ₦1M – ₦4M+ | ~300% |
Prestigious boarding schools now charge between ₦1.5M and ₦4M per term, a significant leap from a decade ago. This trend is particularly evident in international schools and elite institutions.
3. Tertiary Institutions
| Institution Type | Average Fees (2015) | Average Fees (2025) | % Increase |
| Federal Universities | ₦20,000 – ₦45,000/session | ₦100,000 – ₦250,000/session | ~400% |
| State Universities | ₦45,000 – ₦120,000 | ₦150,000 – ₦500,000 | ~300% |
| Private Universities | ₦300,000 – ₦1.5M | ₦1.5M – ₦5M+ | ~400% |
Tertiary education has seen dramatic hikes, especially after the removal of fuel subsidies, spiking inflation rate, and increased pressure on government funding. Even federal universities, previously known for affordability, now charge much higher fees.
Note: These are average estimates and vary by location and institution.
Factors Behind the Rising Costs
Several factors have contributed to the increase in school fees:
1. Inflation and Currency Devaluation: The naira has lost significant value, affecting import-dependent school supplies and operational costs.
2. Decline in Public Education Funding: Budgetary allocations to education remain below UNESCO’s recommended 15–20%.
3. Rising Cost of Living: Utilities, transportation, and staff salaries have increased.
4. Insecurity and Infrastructure Needs: Schools invest more in security and facilities to attract students.
5. Privatization and Commercialization: Education is increasingly seen as a business, especially in urban areas.
6. Exchange Rate Volatility: Many schools pay for international curriculums or imported materials.
What Can Parents Do?
1. Budget Early
Plan ahead and start saving for each term before it sneaks up on you.
2. Consider Edu-Savings or Insurance Schemes
Some financial institutions offer education-specific savings plans or insurance to ease long-term planning. One great option for this is Child by Bravewood. With Child, you get a dedicated investment plan designed to help you secure your child’s future without stress. Child offers:
• Up to 16.5% annual returns, compounded daily.
• Flexible withdrawal windows (January, April, and September) for school payment periods.
• Zero hidden fees and full CBN regulation for peace of mind.
• An easy-to-use digital platform to track your returns in real time.
3. Explore Scholarships and Bursaries
Both public and private institutions now offer merit- and need-based scholarships.
4. Be Realistic
Sometimes, that flashy school with a swimming pool and a robotics lab may not be necessary—especially if your child can thrive in a more affordable, academically sound environment.
Final Thoughts
As a parent in today’s Nigeria, it’s understandable to feel overwhelmed by how much the price of school fees has increased over the last decade. But remember—education is still one of the best investments you can make for your child. And while the price tag has gotten a bit higher, the long-term value remains unmatched.
So, whether you’re budgeting for next term or thinking long-term, the key is being informed, proactive, and intentional. You’re not alone in this journey—and your sacrifices today are building a brighter tomorrow.
Bravewood provides Nigerian professionals with low-risk, high-return investment products, licensed by the Central Bank of Nigeria.
