According to a statement by the university's Public Relations Officer, Abiodun Olanrewaju, the reduction comes after discussions with student representatives who insisted on a 50% fee reduction. The university management had initially stated that the new charges were necessary for the institution's efficient operation.

As per the statement, Vice Chancellor Professor Adebayo Simeon Bamire announced the revised charges as follows:

1. Returning students in the Humanities will now pay ₦76,000 instead of the initial ₦89,200.

2. New students in the Humanities will pay ₦131,000 instead of the initial ₦151,200.

3. Returning students in the Sciences and Technology will pay ₦86,000 instead of ₦101,200.

4. New students in the same Faculties will pay ₦141,000 instead of ₦163,200.

5. Returning students in Pharmacy and the College of Health Sciences will pay ₦109,000 instead of ₦128,200.

6. New students in the same Faculties will pay ₦164,000 instead of ₦190,000.

Furthermore, the statement mentioned that the university management has approved the option for payment in two equal installments.