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The National Universities Commission (NUC) says it is currently processing applications for 303 new private universities to cater for the demand of tertiary education in the country.
The summit had as its theme: “Private University Education Delivery in Nigeria: Challenges and Opportunities.’’
Rasheed explained that applications were received from groups of individuals, corporate organisations, foundations and faith-based organisations from all over the country.
The executive secretary, while delivering a lead paper at the maiden edition of the summit, said the country currently had 170 universities out of which 79 were private with 38, representing 48.11 per cent owned by faith-based organisations.
He said 41 universities, representing 51.89 per cent were owned by corporate bodies, foundations or individuals.
Rasheed noted that although there were many private universities in the country, most of them were still unable to fulfil their admission quotas as they admitted barely 6 per cent of the total university admissions in the country per session.
He, therefore, said that this challenge was not enough to stop the issuance of licenses, as Nigeria needed more universities to cope with the high demand for university education.
He listed some challenges private universities were faced with to include non-availability of quality infrastructure and facilities, merit-based student admission, staffing and sustainable funding, among others.