School Guide

Best Universities to Study Economics in Nigeria

Economics is the study of scarcity and how it affects how resources are used, how commodities and services are produced, how production and welfare increase over time, and wide range of other complicated concerns that are extremely important to society.

Economics is a 4-years program at the universities in Nigeria. As result, there are several things you should be aware of that will offer you an advantage over other applicants when applying for admission to study it at the university. You must, among other things, fulfil the course’s fundamental prerequisites.

Best Universities to Study Economics in Nigeria

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Below are the best universities to study economics in Nigeria 

University of Ibadan

The University of Ibadan, founded in 1948, is Nigeria’s first university and still the best place to study economics.

With over 200 academic staff, the economics department offers undergraduate and postgraduate programs that provide a solid foundation in economic theory and application. The curriculum covers a wide range of topics like microeconomics, macroeconomics, econometrics, political economy, and development economics.

Students get to learn from highly qualified lecturers, many of whom are leading economists and accomplished researchers. The department also hosts seminars and conferences where students can engage with visiting scholars.

UI’s economics program is very competitive, admitting only the best and brightest students in the country. Graduates of the program are highly sought after and occupy top positions in both public and private sectors. Many alumni also go on to pursue higher degrees at elite universities around the world.

The university has an active Economics Students’ Society that organizes educational and social events for members. Students can also get involved in research projects and internship opportunities with the Center for Economic Policy and Development Research on campus.

With its long history of excellence, world-class faculty, and resources for career and personal growth, the University of Ibadan offers an unparalleled education in economics. If you want to study at one of the top schools in Nigeria, UI should be at the top of your list.

Obafemi Awolowo University

Obafemi Awolowo University in Osun State is one of Nigeria’s most prestigious schools and a top choice for studying economics.

Established in 1962, OAU has produced some of the country’s leading economists, businessmen and politicians. The Department of Economics offers undergraduate and postgraduate programs in economics with concentrations like quantitative economics, economic theory, and development economics.

OAU’s economics program provides a solid foundation in micro and macroeconomics, statistics, and econometrics. You’ll take courses on topics such as international trade, public finance, monetary economics, and economic growth. The curriculum balances theory and real-world application, with opportunities for internships, research projects and studying abroad.

Some other benefits of the program include:

  1. Highly qualified lecturers and professors with extensive industry experience.
  2. A mentorship program that pairs students with economics faculty.
  3. Regular guest lectures and seminars featuring prominent economists and industry leaders.
  4. Opportunities to participate in competitions like the National Economics Quiz.
  5. An active Economics Students Association that organizes career workshops, networking events and community outreach programs.

A relatively affordable tuition, especially compared to private universities. OAU offers scholarships and financial assistance for eligible students.

With its prestigious reputation, experienced faculty, and wealth of resources, OAU deserves its place among the top schools for economics in Nigeria. An economics degree from this institution can open the door to a successful career as an economist, policy analyst, financial advisor, or in banking and finance.

READ ALSO: Best Universities to Study Communication Programs in Nigeria

University of Lagos

The University of Lagos, fondly called UNILAG, is one of the top choices for aspiring economists in Nigeria. Established in 1962, UNILAG has a long history of academic excellence and is located in the bustling city of Lagos.

UNILAG’s Department of Economics offers undergraduate and graduate degree programs in Economics with concentrations in areas like Econometrics, Economic Theory, Growth and Development, and Money and Banking. The curriculum provides a strong foundation in both theory and application. Students learn quantitative methods and tools for economic analysis, preparing them for careers as economists, analysts, and researchers.

Some other reasons UNILAG is a top pick for Economics:

Highly qualified faculty with advanced degrees from renowned universities. Students benefit from their wealth of knowledge and experience.

Access to resources like the UNILAG Library and Computer Center. The library has an extensive collection of books, journals, magazines, and other resources for economics students.

Opportunities to participate in exchange programs, internships, conferences and seminars to gain practical experience.

Vibrant student life on campus with many clubs and organizations to join like the Economics Students Association.

Notable alumni in government, finance, and academia who provide mentorship and networking opportunities.

Affordable tuition and cost of living in Lagos relative to other major cities. This makes UNILAG accessible to more students.

Ahmadu Bello University

Ahmadu Bello University is one of the top universities in Nigeria and highly ranked for its economics programs. Located in Zaria, Kaduna State, ABU has a long history of excellence in education.

ABU offers high quality education and training in a wide range of economics courses and programs at the undergraduate and postgraduate levels. Some of the programs offered include:

  • BSc Economics
  • BSc Business Administration
  • MSc Economics
  • PhD Economics

The economics department has many accomplished professors and lecturers that provide students with a solid knowledge foundation in both theoretical and applied economics.

ABU has a vibrant campus life with many opportunities for extracurricular activities. Some of the facilities on campus include:

  • Several student hostels and residential halls
  • A large university library with many resources for economics students
  • Sporting facilities for various sports and games
  • A university health center providing basic medical care for students
  • Many student clubs and organizations to join based on interests and hobbies

Graduating with a degree in Economics from ABU opens up many career opportunities. Some options for economics graduates include:

  • Policy analyst
  • Financial analyst
  • Research associate
  • Consultant
  • Lecturer

With a degree from such a prestigious university, ABU graduates are highly sought after by many organizations in Nigeria. An economics degree from ABU will prepare you for a successful career.

Overall, ABU is an excellent choice for studying economics in Nigeria, providing high quality education, a vibrant campus, and good career prospects. Enrolling in one of their economics programs will set you up for success.

University of Nigeria Nsukka

The University of Nigeria, Nsukka (UNN) is one of the most affordable options for studying economics in Nigeria. Founded in 1955, UNN is located in southeastern Nigeria and has a stellar reputation for high-quality education at a low cost.

UNN offers both undergraduate and graduate degrees in economics that provide students with a solid foundation in core economic theories and principles. The curriculum emphasizes the applied side of economics, helping students develop strong analytical and critical thinking skills.

Some of the economics courses you can expect to take at UNN include:

  • Microeconomics: The study of how individuals and firms make economic decisions and how those choices interact in markets.
  • Macroeconomics: The study of the aggregate economy, including topics like economic growth, interest rates, inflation, and unemployment.
  • Econometrics: The application of statistical methods to economic data. Econometrics teaches students how to build and test economic models.
  • Development Economics: Focuses on the economic growth and development of developing countries.
  • Agricultural Economics: Analyzes how agricultural markets and policies impact producers, consumers, and the overall economy.

UNN has an excellent faculty of professors with advanced degrees from top schools around the world. They emphasize interactive teaching styles, using real-world examples and case studies to bring economic concepts to life.

With affordable tuition, hands-on learning opportunities, and a growing alumni network, the University of Nigeria, Nsukka offers an outstanding education in economics without the high price tag. For budget-conscious students interested in economics, UNN should be at the top of your list.

READ ALSO: Best Universities to Study Banking and Finance in Nigeria


Many prospective students considering communication  programs in Nigeria likely have questions about the field of study and process. Below are some of the most frequently asked questions and their answers:

What degree do I need?

For most economics careers, you’ll want at least a bachelor’s degree in economics or a related field like finance, statistics, or business administration.

What subjects will I study?

Core courses usually include microeconomics, macroeconomics, econometrics, and statistics. You’ll also take electives in areas like international trade, development economics, agricultural economics, or financial economics.

What are the job prospects?

There is strong demand for economists in Nigeria. Possible careers include:

  • Policy Analyst: Help governments develop economic and social policies.
  • Investment Analyst: Monitor economic factors and advise businesses on investing.
  • Data Analyst: Gather and analyze statistical data to identify economic trends.
  • Management Consultant: Provide advice to businesses and organizations on financial and economic issues.

How much do economists earn?

According to recent surveys, economists in Nigeria earn an average salary of ₦5 million per year. Salaries vary significantly based on experience, education, and job responsibilities.

Which schools are the best?

Some of the top universities for economics in Nigeria are:

  • University of Lagos
  • University of Ibadan
  • Obafemi Awolowo University
  • University of Nigeria, Nsukka
  • Ahmadu Bello University

These leading schools offer high-quality programs, accomplished faculty, opportunities for internships, and career support services.


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