Location
Maryland Nekede, Owerri
Phone
+234 (0) 901 6189 060
Maryland Nekede, Owerri
+234 (0) 901 6189 060
CUN is a miraculous project running on Providence. It is rapidly growing and expanding. In its 3-year history, it has received a full License as a private University. In the same way, because of prudent management of resources, CUN has successfully completed the third cycle without owing any salary. The Income and expenditure profile of the University is presented below.
| Recurrent Income | 2021/2022 | 2022/2023 | 2023/2024 |
|---|---|---|---|
| Opening Balance (B/F) | 1,908,620 | 6,800,976 | 12,669,655 |
| Outstanding school fees collected | 0.0 | 1,000,000 | 900,000 |
| Pre-Admission Fees | 1,500,000 | 15,120,000 | 16,639,000 |
| Tuition Fees | 9,325,900 | 71,031,500 | 137,426,290 |
| Other Fees | 1,868,500 | 10,900,000 | 46,828,000 |
| Consultancy Services and Press Ltd | 500,000 | 5,161,939 | 9,328,088 |
| Services’ Charges/Commissions | 1,561,807 | 4,571, 700 | 6,780,911 |
| Savings (from CUN/CIP) CMF Staff | 1,100,000 | 26,912,080 | 30,532,490 |
| Subtotal | 17,764,827 | 136,926,495 | 261,104,434 |
| Capital Income | |||
| Internal Loans & Advances | 0 | 0 | 76,245,000 |
| Padre Pio University Hospital | 3,624,000 | 6,754,565 | 20,064,100 |
| Grant from General Government | 0 | 27,080,000 | 0 |
| Grant from the Proprietor (CUEF) | 91,000,000 | 46,920,000 | 96,091,875 |
| East Nigeria Province | 4,000,000 | 10,000,000 | 7,784,000 |
| West Nigeria Delegation | 1,000,000 | 1,000,000 | 0 |
| Univ. Fundraising at Full moon Hotel | 13,127,000 | 0 | 0 |
| CMF Nigeria members support | 8,800,000 | 0 | 0 |
| CIP Alumni Association | 3,150,000 | 0 | 0 |
| CUN Scholarship Fund | 2,600,400 | 756,000 | 1,800,000 |
| Donations from Benefactors | 2,000,000 | 2,700,000 | 15,620,000 |
| Administrative costs on Grants | 7,300,000 | 10,696,000 | 13,139,500 |
| Subtotal | 136,601,400 | 105,906,565 | 227,960,475 |
| Grand Total | 154,366,227 | 242,833,060 | 491,848,909 |
The Consultancy services unit will be able to grow more sustainability with the establishment of ICT centre in the University that will coordinate the training of youths in digital skills, conducting external examinations, effectively running online and distance learning with international faculties, etc.
| Recurrent Expenditure | 2021/2022 | 2022/2023 | 2023/2024 |
|---|---|---|---|
| Salaries | 54,180,972 | 104,637,080 | 136,206,000 |
| Operational | 1,287,700 | 6,562,847 | 10,772,630 |
| Utilities | 1,180,000 | 3,768,374 | 14,860,280 |
| Direct teaching cost | 5,020,000 | 15,393,700 | 28,382,671 |
| Repairs and Maintenance | 9,885,020 | 10,514,190 | 16,234,450 |
| Out-Sourced Expenses | 1,000,000 | 2,193,000 | 10,673,450 |
| Special Services (Audit, MFB, Taxes) | 0 | 3,865,000 | 4,857,500 |
| Loan Repayments | 1,786,328 | 4,357,483 | 63,714,541 |
| Other Expenses (PRO, Host comm.) | 964,000 | 3,245,000 | 1,497,550 |
| CMF Tuition discounts (47 students) | 7,091,231 | 7,091,231 | 8,237,450 |
| Indigent scholarship/waivers (4) | 720,000 | 720,000 | 890,000 |
| Total | 83,115,251 | 162,347,905 | 296,326,522 |
| Capital Expenditure | 2021/2022 | 2022/2023 | 2023/2024 |
| Physical Infrastructure | 35,974,000 | 29,458,000 | 90,432,080 |
| IT Infrastructure | 8,826,000 | 12,661,500 | 29,050,870 |
| Library/Laboratory Equipment | 2,350,000 | 10,750,000 | 13,445,500 |
| Power/Machinery/ Installations | 10,000,000 | 12,250,000 | 14,728,000 |
| Administrative Costs (Research) | 7,300,000 | 2,696,000 | 10,139,500 |
| Total | 64,450,000 | 67,815,500 | 157,795,950 |
| Grand Total | 147,565,251 | 230,163,405 | 454,122,472 |
| Deficit/Surplus | 6,800,976 | 12,669,655 | 37,726,437 |
Direct Teaching costs are those expenditures connected directly with teaching and learning
which include consumables, equipment and teaching aids.
Recurrent expenditures like salaries and utilities are growing progressively with increases in
programs, the number of students, inflationary trends and devaluation of the local currency.
With 37 million naira recorded as of June 2025, and the expected projected additional 300
students for October 2025, the university hopes to double the surplus.
