5 Best Universities to Study Economics in Nigeria

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Your choice of university plays a pivotal role in shaping your academic and professional future in Economics.

Nigeria is home to several prestigious institutions known for their outstanding Economics programmes, each offering a unique combination of rigorous coursework, expert faculty, and excellent research opportunities. 

This article explores the five best universities in Nigeria for studying Economics, shedding light on the strengths and distinctive features of each. 

From comprehensive academic frameworks to vibrant learning communities, these universities provide an ideal environment for budding economists. 

Explore these top institutions to find the best match for your educational and career goals.

METHODOLOGY: We ranked these universities based on their global and national ranking from websites such as Webometrics,  Edurank, and so on. We also considered the institutions’ accreditation status for some courses.  Scroll down to the DISCLAIMER section to learn more.

5 Best Universities in Nigeria For Studying Economics

1. University of Ibadan (UI)
2. University of Lagos (UNILAG)
3. Obafemi Awolowo University (OAU)
4. Ahmadu Bello University (ABU)
5. Covenant University

1. University of Ibadan (UI) – Best University For Research Excellence

Studying Economics at the University of Ibadan (UI) offers a transformative educational experience grounded in a tradition of excellence and rigorous academic standards. 

As Nigeria’s premier university, UI boasts a highly regarded Economics programme that emphasizes both local and global economic perspectives, equipping you with critical analytical and problem-solving skills. 

The faculty at UI comprises seasoned economists and researchers who provide mentorship and guidance, fostering a dynamic learning environment. 

Additionally, the university’s extensive library resources, modern facilities, and numerous research opportunities enhance the academic experience, preparing you for successful careers in various economic sectors. 

Choosing UI for your Economics studies means joining a prestigious institution with a strong network of alumni and industry connections, paving the way for numerous career opportunities and professional growth.

• School Fees: for Economics at UI ranges from ₦80,000 to ₦100,000 per session.
• Address: The University of Ibadan (UI) is located at: UI Road, Ibadan, Oyo State Nigeria. 
• Email:     mediaresources@mail.ui.edu.ng 
• Website: https://www.ui.edu.ng/  

What We Think 

Pros:

• Has a strong reputation, providing you with a respected degree after graduation. 
• Offers experienced faculty who are seasoned economists and researchers that bring valuable insights and mentorship.
• Fosters a wide range of economic theories and practices, ensuring a well-rounded education.
• Provides access to extensive research facilities and opportunities to engage in impactful economic research projects.
• Has modern facilities, including well-equipped libraries and computer labs, to enhance your learning experience.

Cons:

• Suffers a high demand for its Economics programme making UI’s admission highly competitive.
• Has large class sizes, potentially reducing individual attention from lecturers.
• Foster Intense academic pressure due to rigorous academic standards and workload.
• Offer limited accommodation.

2. University of Lagos (UNILAG) – Best University For World-class  Education

Begin your epic journey, why not study economics at the University of Lagos (UNILAG). Take classes from a world-class faculty with years of experience in the dynamic curriculum, tailored to push you and elevate your passion! 

Located in the heart of Nigeria’s vibrant economic capital, UNILAG has unprecedented access to internships and valuable networking opportunities which align you with companies that count. 

Get involved in new studies that perfect and develop  your critical thinking, problem solving skills and make use of the University’s wide network with its alumni for great career opportunities. 

Engage on campus with a robust student experience, surrounded by like-minded peers and dive deeper into the impact you wish to make in economics.

• School Fees: for Economics at University of Lagos (UNILAG) ranges from ₦80,750.00 to ₦116,325.00 per session.
• Address: Eyo Ita Crescent, University of Lagos, Akoka, Yaba, Lagos, Nigeria.
• Email: info@unilag.edu.ng   
• Website: https://unilag.edu.ng/ 

What We Think  

Pros:

• Boasts a strong academic reputation, providing a solid foundation for in-depth Economics studies.
• Provides access to a distinguished faculty with extensive expertise in economics.
• Offers a dynamic curriculum that challenges and inspires students.
• Fosters opportunities for internships and networking within Nigeria’s commercial hub.
• Engages in groundbreaking research projects.
• Has an extensive and influential alumni network.
• Enhances career prospects through industry connections and real-world economic practices.

Cons:

• Suffers from occasional overcrowding in classes and facilities.
• Faces challenges with administrative processes and bureaucracy.
• Has limited on-campus accommodation options.
• Lacks sufficient funding for some advanced research projects.
• Experiences periods of strikes or disruptions in the academic calendar.
• Requires adaptation to a competitive academic environment.
• Deals with occasional resource constraints in libraries and laboratories.

3. Obafemi Awolowo University (OAU) – Best University For Academic  Excellence

Study economics at Obafemi Awolowo University (OAU) for a well-rounded training in academics and applications of economics. 

This is where you get the opportunity to work with the amazing faculty at OAU who break down complex economic theories for you and walk alongside as you engage these practices. 

You are going to be on board with all of the university’s ongoing research efforts, providing you a competitive edge in the continuously changing economics arena. Furthermore, OAU has a strong focus on critical thinking and analysis, equipping you to readily solve impending economic problems. 

With engaging campus life and interconnected alumni, your educational experience is enriched with networking opportunities for favorable career progress.

• School Fees: for Economics  at OAU ranges from ₦89,200 – ₦151,200 per session.
• Address: Obafemi Awolowo University, Ile-ife, Osun State Nigeria.
• Email: contact@oauife.edu.ng     
• Website: https://www.oau.edu.ng/ 

What We Think 

Pros:

• Provides access to experienced and knowledgeable faculty.
• Offers a strong focus on critical thinking and analysis.
• Fosters a collaborative and engaging learning environment.
• Has numerous research opportunities to enhance practical understanding.
• Connects you with a vibrant alumni network for career opportunities.

Cons: 

• Suffers from occasional overcrowding in lecture halls.
• Lacks sufficient modern facilities in some areas.
• Faces administrative delays that can affect academic progress.
• Has limited on-campus accommodation options.

4. Ahmadu Bello University (ABU) – Best University For Medical Excellence

Choosing to study economics at Ahmadu Bello University (ABU) allows you to be part of a vibrant and dynamic academic community. 

ABU’s commitment to excellence ensures you receive a high-quality education, enriched with numerous research opportunities and strong industry connections. 

The university’s extensive resources and modern facilities support your learning and development, while the diverse student body fosters a stimulating and inclusive environment. 

Additionally, ABU’s active campus life and numerous extracurricular activities provide a well-rounded university experience, helping you build valuable networks and friendships that last a lifetime..

• School Fees: for Economics at ABU is : ₦65,125 – ₦75,125 per session.
• Address: Ahmadu Bello University, Zaria, Kaduna State, Nigeria
• Email: info@abu.edu.ng 
• Website: https://www.abu.edu.ng/

What We Think

Pros:

• Offers a diverse range of specialized courses within the economics programme.
• Provides opportunities for participation in national and international conferences.
• Fosters a supportive and collaborative learning environment.
• Connects you with a strong network of alumni in influential positions.
• Has an active student-led economics association that enhances learning through extra-curricular activities.

Cons:

• Faces challenges with limited access to cutting-edge technology and resources.
• Suffers from occasional administrative delays affecting course registration and results processing.
• Lacks ample funding for student research projects.
• Experiences frequent power outages that disrupt academic activities.
• Has limited availability of scholarships and financial aid options for students.

5. Covenant University – Best University For Hands-On Learning

Experience a unique blend of rigorous academic training and value-driven education by studying economics at Covenant University. 

Covenant provides state-of-the-art facilities and modern teaching approaches that can help you navigate the complexities of the modern economy. 

The university’s commitment to entrepreneurship ensures that you not only learn economic theories but also how to apply them in real-world business scenarios. 

With a vibrant campus life, supportive faculty, Covenant University provides a nurturing environment that equips you with the skills and connections needed for a successful career in economics.

• School Fees: for Economics  at Covenant University is ₦952,500 – ₦N1,052,500 per session.
• Address: Covenant University, Canaan Land, Km. 10 Idiroko Road, Ota, Ogun State, Nigeria.
• Email: registrar@covenantuniversity.edu.ng 
• Website: https://www.covenantuniversity.edu.ng/ 

What We Think

Pros:

• Offers a comprehensive curriculum that combines academic rigor with practical skills.
• Provides access to state-of-the-art facilities and resources for enhanced learning.
• Ensures personalized mentorship and guidance from experienced faculty members.
• Promotes a strong ethical foundation and leadership skills.
• Facilitates networking opportunities through a robust alumni network and industry connections.

Cons: 

• Requires adherence to strict campus rules and regulations.
• Entails relatively high tuition fees compared to some other institutions.
• Limits exposure to diverse cultural experiences due to the university’s strict policies.
• Restricts certain personal freedoms due to the university’s conservative environment.

Overview of the Best 5 Universities to Study Economics in Nigeria 

In Nigeria, there are five exceptional universities that stand out for their excellence in offering economic programmes. 

The University of Ibadan (UI) excels in research and offers a comprehensive curriculum, while the University of Lagos (UNILAG) provides a diverse range of opportunities and a lively campus atmosphere. 

Obafemi Awolowo University (OAU) is notable for its focus on critical thinking and innovative methods, and Ahmadu Bello University (ABU) offers a dynamic learning environment with practical applications. 

Meanwhile, Covenant University distinguishes itself through its emphasis on ethical leadership and state-of-the-art facilities. Together, these universities offer a well-rounded education and practical training, equipping students for successful careers in economics.

Other Universities that Offer Economics in Nigeria

If you’re curious about other universities in Nigeria offering Economics, be rest assured that you have several options to choose from, including:

Top 10 Federal Universities to that Offer Economics in Nigeria

1. University of Abuja (UNIABUJA)
2. University of Agriculture, Abeokuta (UNAAB)
3. University of Benin (UNIBEN)
4. University of Calabar (UNICAL)
5. University of Ilorin (UNILORIN)
6. University of Jos (UNIJOS)
7. University of Maiduguri (UNIMAID)
8. University of Port Harcourt (UNIPORT)
9. University of Uyo (UNIUYO)
10. Abubakar Tafawa Balewa University (ATBU)

Top 10 State Universities to that Offer Economics in Nigeria

1. Abia State University (ABSU)
2. Adamawa State University (ADSU)
3. Adekunle Ajasin University (AAUA)
4. Akwa Ibom State University (AKSU)
5. Ambrose Alli University (AAU)
6. Anambra State University (ANSU)
7. Bauchi State University (BSU)
8. Benue State University (BSU)
9. Cross River State University (CRSU)
10. Delta State University (DELSU)

Top 10 Private Universities to that Offer Economics in Nigeria

1. Afe Babalola University (ABUAD)
2. Ajayi Crowther University (ACU)
3. Al-Hikmah University (AHU)
4. American University of Nigeria (AUN)
5. Babcock University (BU)
6. Baze University (BU)
7. Bells University of Technology (BUT)
8. Bowen University (BU)
9. Caleb University (CU)
10. Chrisland University (CU)

How to Choose the Best University to Study Economics in Nigeria

To choose the best university to study Economics in Nigeria, adhere to  the following points:

• Review the curriculum to ensure it covers a broad range of economics courses, including microeconomics, macroeconomics, econometrics, and development economics.
• Check the qualifications and expertise of the lecturers in the Economics department.
• Consider universities with active research centers or institutes in economics, providing opportunities for undergraduate research.
• Ensure the university has adequate facilities, including libraries, computer labs, and internet access.
• Consider the location’s impact on your studies, access to internships, and job opportunities after graduation.
• Compare tuition fees, living costs, and available scholarships or financial aid.
• Consider the strength of the university’s alumni network in the field of economics.

Based on these factors, here’s a brief comparison:

• Select University of Ibadan (UI) for unparalleled research opportunities and academic excellence in Economics.
• Pick University of Lagos (UNILAG) for a vibrant campus life and diverse learning environment in Economics.
• Go for Covenant University for ethical leadership training and state-of-the-art facilities in Economics .
• Opt for Obafemi Awolowo University (OAU) for a strong focus on critical thinking and analytical skills in Economics.
• Choose Ahmadu Bello University (ABU) for a dynamic educational experience and practical training in Economics.

Course Combination for Studying Economics in Nigeria

To gain admission in an Economics programme in Nigeria, have a strong academic foundation. For your Unified Tertiary Matriculation Examination (UTME), Use of English, Mathematics, Economics and any one of Government, Geography, History, or Literature in English are of high importance. These subjects provide a solid understanding of the state and trajectory of modern economics.

Eligibility Criteria for Studying Economics:

• Achieve a minimum of 5 credits in relevant O’Level subjects, including English Language, Mathematics, Economics, and at least two from Government, Geography, History, Literature in English, Commerce, Accounting, or other related subjects.
• Attain a minimum score of 160 points in the Unified Tertiary Matriculation Examination (UTME).
• Be at least 16 years old to satisfy the age requirement. 

General Cut off mark for Economics

The general cut-off mark for Economics in Nigerian universities is typically around 140-160 points  out of 400 in the Unified Tertiary Matriculation Examination (UTME). However, this can vary depending on the institution and the number of applicants.

Economics Duration

The average number of years for studying Economics is typically 4 years. This is the standard duration for most schools in Nigeria.

Pro Tips 

• Understand the fundamental principles and theories of economics to build a strong foundation.
• Read widely on current economic issues and trends to stay informed and relevant.
• Engage in class discussions and group projects to enhance your understanding and critical thinking skills.
• Utilize available resources such as textbooks, academic journals, and online courses to supplement your learning.
• Practice solving economic problems and case studies to apply theoretical knowledge to real-world scenarios.
• Network with professors, professionals, and peers to gain insights and opportunities in the field of economics.
• Stay organized and manage your time effectively to balance coursework, research, and extracurricular activities.

Final Thoughts

The selection of an appropriate university for pursuing economics studies in Nigeria is of utmost importance for your academic and professional development. 

The University of Ibadan (UI) excels with its research opportunities and academic rigor, while the University of Lagos (UNILAG) offers a vibrant and diverse learning environment. 

Obafemi Awolowo University (OAU) is known for its critical thinking and analytical focus, and Ahmadu Bello University (ABU) provides a dynamic and supportive academic experience. 

Covenant University stands out with its innovative approach and strong emphasis on leadership and entrepreneurship. 

Each of these top institutions offers unique strengths, ensuring that you receive a comprehensive and enriching education in economics, preparing you for a successful career in the field.

DISCLAIMER!!!

This article is based on the author’s research and the university selection is based on the institution’s ranking from reputable websites such as Edurank, Webometrics, and so on. 

To rank universities for professional courses like Medicine and Surgery, Pharmacy, Law, and so on, the author visited the websites of the bodies that regulate and accredit such professions in the country. For example, The Pharmacy Council of Nigeria for Pharmacy, the
Medical and Dental Council of Nigeria for Medicine and Dentistry, and so on. 

Consider every detail in this article as merely informational. Make sure you speak with a certified educational consultant if you need help with choosing the best university for your course. 

You can read this article for a step-by-step guide on choosing the best institution for your course.

If you have any questions or want to book an appointment with any of our consultants, kindly contact us!

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