This study investigates the effects of slip boundary conditions on the electroosmotic flow of an electrolyte solution in a microchannel with a squeezing upper wall and a charged lower wall. The mathematical model is derived by utilizing a tight coupling between the nonlinear Poisson–Boltzmann equation and the flow Navier–Stokes equations. An analytical solution to the problem is acquired through the application of lubrication theory, enabling the resolution of the Poisson–Boltzmann equation without resorting to any approximation techniques. The study thoroughly investigates the impact of various electrokinetic parameters, including the Helmholtz–Smoluchowski velocity, wall zeta potential, Debye length, and electric field, on fluid shear stress, pressure distributions, velocity field, and net flow rate. The results demonstrate that the time-averaged net flow rate is significantly influenced by the collective impact of wall slip velocity, Helmholtz–Smoluchowski velocity, zeta potential, and electric double layer. The data clearly show that altering the Helmholtz–Smoluchowski velocity direction can also impact the direction of the net flow rate, regardless of the slip effects. These results further confirm that applying slip boundary conditions to both walls can improve pumping efficiency.