A new analysis has revealed that the West African Examinations Council (WAEC) and the National Examinations Council (NECO) could have generated more than N175 billion annually if the Federal Government had implemented the proposed N50,000 registration fee for the Senior Secondary Certificate Examination (SSCE).
The projection is based on 2025 examination figures, which show that a total of 3,506,489 candidates registered for WAEC and NECO examinations, including both internal and external candidates. At N50,000 per candidate, the combined registration fees would have amounted to N175,324,450,000.
According to the figures, 1,973,365 candidates registered for the 2025 May/June WAEC Senior School Certificate Examination, while 1,969,313 eventually sat for the examination.
For WAEC private candidates, 9,054 wrote the 2025 First Series WASSCE, while 65,752 participated in the Second Series Computer-Based WASSCE for Private Candidates.
On the NECO side, 96,979 candidates registered for the 2025 SSCE External, with 95,160 sitting the examination. In addition, 1,367,210 candidates took part in the 2025 NECO Internal SSCE.
The report noted that the revenue estimate comes amid the Federal Government’s decision to reverse the controversial proposal to raise WAEC and NECO registration fees to N50,000 per candidate.
It also highlighted the growing importance of WAEC’s private candidate examinations as a major source of revenue. Between 2021 and 2025, the examination body generated an estimated N7.39 billion from WASSCE for Private Candidates, driven by higher registration fees and the transition to computer-based testing (CBT).
During the period, the registration fee for private candidates increased from N13,950 to N27,000, while the actual cost paid by many candidates rose to between N28,000 and N32,000 after additional processing and biometric charges.
The report added that despite a decline in the number of candidates in some years, WAEC’s revenue continued to grow because of the higher fees. It said funds generated from the examinations were invested in CBT infrastructure, examination security and logistics, improved remuneration for supervisors and examiners, as well as digital services, including online results and digital certificates.
Analysts believe that with the registration fee now fixed at N27,000 and the full adoption of CBT, WAEC’s private candidate examinations are likely to continue generating more than N1.7 billion annually.
