Oyedepo says his church has not made any profit from CU since 2002

The Chancellor of

The University which was established in 2002 is one of the institutions with a very high tuition fee in Nigeria. Tuition fee in this institution ranges between N799, 500 and N819, 500 per session.

However, In an interview with The Education Explorer, Oyedepo while responding to a question on why faith-based Universities charge high tuition said people need to find out what the students of Covenant Universities are paying for.

He said, ''compare what they pay here and there and what those payments cover. The rate of power consumption in the hostels alone is out of this world. All we need to juxtapose this is that they should rent the room and pay for electricity and they would pay ten times the amount.

''People should just sit down and find out what exactly they are paying for. The church has not drawn anything from Covenant University since inception in 12 years. But this year, the church reserves about N1.6bn stakes in its development. So, it’s not a business, it’s a service platform.''

Oyedepo explained that the tuition fee students pay at Covenant University is worth the service the institution renders.

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"In every nation of the world, the government subsidises education to all the stakeholders, not in this country, not a dime has ever crossed from government to any private university in Nigeria. And ask those who are in it how much profit they are making, they would explain to you how it has been wonderful to pay staff salaries and keep the system running. Move to the next country where people rush to study, look at how much they pay and what they get for it. Whether they have teachers or not doesn’t matter.''

''Tuition fees hike has God approval''- Oyedepo 2016

The current tuition fee of the University was increased in November 2016 from N631,000 to N799, 500. According to Bishop Oyedepo, the tuition fees had God approval.

He however warned people to stop criticising Covenant University school fees or face God's wrath.

The tuition fee of faith-based institutions in Nigeria always attracts controversy as people complain and accuse church founders of shortchanging their poor members who financially contribute to the establishment of the universities but can not send their parents to the schools.

Covenant University Anniversary