Nigeria is the biggest nation in Africa and easily the most diverse, with a staggering 250 ethnic groups. It has the largest economy on the continent, with one Citigroup report predicting that it will have the highest average GDP growth in the world from 2010 to 2050. It is also a global hub of black and African culture that has spawned one of the largest film industries in the world (“Nollywood”) as well as pioneering music genres such as jùjú and Afrobeat. Nicknamed the “Giant of Africa,” this vast and varied country never ceases to amaze.
The number of Nigerian universities is expected to double by 2025, making it an exciting time to come and study in Nigeria. The country also reached a landmark in 2020 when the Lagos Business School Executive MBA became the first African program to feature in The Economist’s prestigious annual MBA ranking. It is illustrative of the country’s growing excellence in higher education teaching. With the country experiencing explosive population growth, the responsibility will surely fall upon the next generation of business leaders to create an economy powerful enough to cope. Are you up for the challenge?
Frequently Asked Questions
FAQ
How much will it cost to live and study in Nigeria?
The estimated monthly costs for one person in Nigeria are around NGN180,000 (US$433). Lagos and Abuja are considered to be two of the most expensive cities in Africa. In terms of completing an MBA in Nigeria, tuition fees range from EUR€5,000 to €10,000.
Do I need to get a visa to live and study in Nigeria?
Nigeria does not offer a specific student visa. International students who wish to study in Nigeria will need to apply for a Subject to Regularization (STR) visa. Upon entry into the country, visa holders must convert their visa into a residence permit. You will need to file for a Combined Expatriate Residence Permit and Alien Card (CERPAC). It is generally best to contact the Nigerian Embassy in your country for specific information. Application fees vary depending on the country you are from but are relatively high for nationals of most countries. The price for an American citizen, for example, is US$180.
How reputable are universities in Nigeria?
As one of the most developed countries in Africa, Nigeria has a large (and expanding) network of public and private universities. The University of Ibadan, Lagos State University, and the University of Lagos are three of the highest-ranked institutions in the country, while Lagos Business School became the first African school to appear in The Economist Executive MBA Ranking in 2020.
What is the job market like for graduates in Nigeria?
With Nigeria’s population growth currently outstripping economic growth, graduates are entering a challenging job market. However, getting a master’s or MBA could set you apart from the competition. Figures from Lagos Business School indicate that 92% of its graduates secured a job at a top company within a year of graduation, while its post-graduation salary increase of 77% was one of the highest increases of any business school. This illustrates the potential for a lucrative career in Nigeria with the right qualifications.
Are there a lot of international students in Nigeria?
The Times Higher Education World University Rankings 2021 show that the percentage of international students in the ranked Nigerian universities is between 0 and 1%. However, affordable tuition fees, courses taught in English, and the chance to live in one of the most diverse countries on the planet are all major motivations to study in Nigeria.
Did You Know?
Fun Facts About Nigeria
1
One of the most multicultural countries in the world, Nigeria is home to over 250 ethnic groups and 500 distinct languages.
2
Nigerian-born Aliko Dangote is the richest man in Africa with a net worth of US$15 billion.
3
Nigeria boasts the largest economy in Africa, which is projected to rank among the world's top 10 economies by 2050.
4
Nigeria is home to the world's second-largest film industry, dubbed "Nollywood."
5
Nigeria’s population is forecasted to double from 200 million to 400 million by 2050.
Which Visas & permits do in need in Nigeria
Nigeria does not offer a specific student visa. International students who wish to study in Nigeria will need to apply for a Subject to Regularization (STR) visa. Upon entry into the country, visa holders must convert their visa into a residence permit. You will need to file for a Combined Expatriate Residence Permit and Alien Card (CERPAC). It is generally best to contact the Nigerian Embassy in your country for specific information. Application fees vary depending on the country you are from but are relatively high for nationals of most countries. The price for an American citizen, for example, is US$180.
Your Expatriate Residence Permit and Alien Card (CERPAC) acts as a combined residence and work permit and is valid for two years. However, by law, companies in Nigeria are only allowed to employ a fixed number of foreign nationals.
Banking in Nigeria
Opening a bank account in Nigeria will easily allow you to manage your finances in Nigeria, from paying bills to withdrawing money to transferring funds. To open a bank account, simply visit your preferred bank branch and meet with a customer representative. You will need to supply a passport photo, proof of ID, and a Bank Verification Number (BVN). Some of the top banks in Nigeria include Access Bank, Zenith Bank, Guaranty Trust Bank (GTBank), First Bank of Nigeria (FBN Holdings), and Ecobank Nigeria. You can also inquire about special student accounts at some of these banks – benefits of a student bank account include no transaction and SMS charges, no opening fee, interest-free overdrafts, no monthly or ATM maintenance fees, and a free debit card.
What do I need to know about healthcare in Nigeria
International students are advised to purchase private health insurance coverage from their home country before entering Nigeria. It is best to take out full-coverage insurance from an international insurance company. Private international insurance usually costs around US$150 per semester.
Alternatively, if you cannot apply for insurance in your home country, you may be able to apply for health insurance in Nigeria. Your university will make recommendations and assist you with the necessary paperwork.
Housing options for students in Nigeria
It is uncommon for universities in Nigeria to provide on-campus accommodation. However, the institution’s international office can usually provide you with assistance and links to help you in your search.
Accommodation costs in Nigeria are relatively high, so it is highly recommended to start looking in advance. A one-bedroom apartment in the city center costs around NGN45,000 (US$108) monthly. Outside the city center, a one-bedroom apartment costs around NGN30,000 (US$72).
What are the public transport options in Nigeria
Nigeria has a vast public transport system, made up of taxis, ferries, trains, buses, and car rental services. Taxes are usually the most affordable, convenient way of getting around. Most taxis run on a meter, but it’s always best to check before hopping in. Taxi fares in Lagos and Abuja start at NGN500 (US$1.20).
If you are unfamiliar with Nigeria, driving yourself is not recommended. You will need to apply for a Nigerian driver’s license, as you are not permitted to drive using an International Driving Permit.
How much does a Big Mac cost in Nigeria
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. Unfortunately, the price of a Big Mac is unknown in Nigeria, as there are no McDonald’s in the country.
However, to get a better sense of Nigeria’s cost of living, the estimated monthly costs for one person are around NGN180,000 (US$433). Nigeria’s two largest urban centers, Lagos and Abuja, are the most expensive cities in Africa according to Mercer’s 2021 Cost of Living Survey.
