Top 10 Best Universities To Study Economics In Nigeria (2024)

The top 10 best universities in Nigeria to study economics currently in this year 2024 are a combination of public and private tertiary schools in the country that have proven to be head and shoulders above other very good schools as far as the course Economics is concerned and we shall be listing and discussing about every one of them as we progress in this article. If you are a prospective student looking to studying economics any Nigerian university, this list should serve as a guide and a pointer to you on the best choice to make regarding your academic future as an economics major.

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According to Investopedia, Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. It is one of the most competitive courses in Nigerian Universities and any prospective student looking to study this course must perform exceptionally well in the JAMB UTME and post UTME screening tests in order to stand a chance of getting admitted into the university to study this course.


Before we take a proper look at the 10 leading universities in Nigeria that offer economics, it is important for us to look at the requirements for studying economics in Nigeria today and we will be taking a good look at the WAEC and JAMB requirements for prospective students below.


If you must study economics at any university in Nigeria, you are required by the West African Examinations Council (WAEC) to have at least 5 credits in your core subjects such as English Language, Mathematics, Economics, and any other two relevant commercial subjects ranging from Commerce, to Government, and Accounting, etc, in at least two sitting.


In order to study economics in Nigeria according to JAMB requirements, you must score at least 200 and above in your UTME. Some schools require a cut off mark of 180 in JAMB UTME to be eligible for their post UTME screening test but to be on the safer side, ensure to score 200 and above. Do well to know you JAMB subject combinations for Economics at UTME level before proceeding to apply for the course.


The following are the 10 best universities to study economics in Nigeria this 2024:


B.Sc Degree in Economics at Covenant University, Ota, is a four-year course. Covenant University is one of the best universities in Nigeria where you can study Economics. It is the best private university in the country and schooling at this tertiary education institution is very expensive but you will get the very best education.

Economics, being the study of how economic units such as households, firms and government make decision in the face of limited resources to satisfy their needs, helps one understand the functioning of the entire economy, and at Covenant University, Ota, you will learn a lot regarding this course.

The Economics programme at Covenant University is the leading programme in West Africa and one of the best in Africa going by the recent Times Higher Education Ranking placing the Economics and Business programme in the top 500 globally. The programme covers all major aspects of economics including Financial Economics, Development Economics, Monetary Economics, International Economics, Labour Economics and Energy Economics, among others.

Economics as a programme at Covenant University was initially in the Department of Strategic Studies in 2002 with an initial staff strength of 5 academic staff and 153 students. In September 2004, the programme was later housed in the Department of Economics and Development Studies. The programme boasts of quality academics who are experts in their fields, this is reflective in the relevance of the graduates of the Department who blaze the trail in their endeavours, hence, the expertise in the programme cuts across the different spectrum of research in Economics.

The Economics programme at this leading Nigerian university aims at equipping its students with the requisite state-of-the-art knowledge in economic theory and tools that prepares them for solution-driven contributions to their community, nation and the world at large. It also prepares students for postgraduate study in Economics and diverse areas of Business and Social Sciences.

As a programme in the Department of Economics and Development Studies, the specific objectives of the Economics programme at Covenant are as follow to:

  • train students to become expert thinkers and manager who will, through exposure to economic principles and techniques, provide policy prescriptions that are adequate for the resolution of economic challenges;
  • develop in students the ability to apply acquired analytical tools and skills in solving societal problems;
  • prepare students for the world of work in firms, factories, organizations and self-employment;
  • provide students with tools to enable them think analytically through exposure to all areas of economic analysis (verbal, graphical and mathematical) in order to engender meaningful contribution to economic policy formulations and implementations; and
  • train students to be highly knowledgeable in the Nigerian economic structure and history in relation to the international economic environment.

The basic requirements for entry into a B.Sc degree in Economics include five SSCE credit in English Language, Mathematics, and any other three Social Science or Science based subjects. In addition, a pass in Unified Tertiary Matriculation Examination (UTME), and Covenant University admissions screening are required.


Since economists study how individuals, firms, and countries make difficult choices about how to use scarce resources to achieve their goals; be it individual welfare, firm profits, or national well-being, and these choices are evaluated under a small set of powerful concepts such as: rationality, efficiency, equity, and stability, American University of Nigeria, Adamawa trains their economics students to model real world situations and use deductive reasoning to arrive at the model’s implications, and test the conclusions of the model empirically using statistical and analytical techniques.

The undergraduate curriculum in economics at American University of Nigeria (AUN), one of the best universities in Nigeria to study this course, is designed to:

  • provide a solid foundation in modern economic theory
  • assist students in applying these theoretical perspectives to issues of economic efficiency, growth, globalization, equity and social justice, wealth and poverty, individual freedom, discrimination, cultural values, and the physical and biological environment
  • illuminate the interaction of the subject with related fields such as political science and finance, among others
  • encourage critical and independent thought about economic policies and programs in an ever changing world order
  • develop the capacity to do quantitative analysis and research using statistical and mathematical techniques and
  • provide the students with a deep understanding of the evolution of economic, political and financial systems over time.

In addition, there is potential for graduates of economics at AUN to conduct post-graduate study and research. Students of economics are trained in economic theory and empirical techniques, as well as in the application of economics to such fields as business, political science, and law. Therefore, they are well suited to pursue graduate education in economics or other subjects, both locally and abroad. Economics is a four-year course at American University of Nigeria, Adamawa and being a private university, their tuition fees are quite expensive; ₦1,850,000 per year.


Bayero University, Kano is one of the leading universities to study economics in Nigeria today. This federal university, located in the northern part of the country has its economics department domiciled at the faculty of Social and Management Sciences. The Department of Economics, Bayero University, Kano ,was established in September 1976 under the then Abdullahi Bayero College equally under the umbrella of Ahmadu Bello University, Zaria.

The Department started by introducing undergraduate programmes on a modest scale in terms of modest admission intake in Economics. In 1977, a multipurpose faculty block was completed and the Department moved into a section of it. In 1989, the department moved to the new campus along with other departments of the faculty. Currently, the Department is occupying an independent building complex and is located at the new campus of the University. If you reside in the north and you are looking for a really good school to attend in order to study economics, you should consider Bayero University, Kano.


The Department of Economics offers a four-year programme leading to a Bachelor of Science (B.Sc) Honours degree in Economics at the University of Nigeria, Nsukka. This top university where you can study economics in Nigeria also runs a Combined Honours degree in this course with any of the following disciplines: Political Science, Sociology/Anthropology, Psychology, Education, Mathematics, Statistics, Library Science, and Adult Education.

The Philosophy which guides the selection and training of students in Economics at UNN is the desire to continuously produce graduates well armed to play positive roles towards the social and economic advancement of Nigeria, Africa and the world. This philosophy enables graduates in the discipline to restore the dignity of man in the society.

This philosophy is achieved not only by equipping the students with a broad foundation in the field of social sciences, but also in grounding them in the application of economic theory and the tools of economic analysis in solving human behavioural problems.

The degree programme seeks to fulfill the following interrelated objectives:

  • To stimulate the students to be able to observe, understand and critically analyze data on the multifarious socio-economic problems of the world and Nigeria in particular, by means of Social Science methods so as to effectively contribute objectively to solving the problems.
  • To ground the students in the theories, methods and philosophy of economic and policy analysis, emphazing in the process, the effects of socio-political factors on economic behaviour;
  • To create a desirable milieu for positive behavioural changes which will enable students develop values like hard work, probity, discipline, creativity and self reliance, dedication and patriotism essential to fulfill Nigeria’s National development objectives;
  • To prepare graduates to easily fit into several fields of human endeavour in both the public and private sector. The programme prepares students for careers in administration, banking and finance, planning and policy making, research, statistics, entrepreneurship, and in Secondary School and University teaching.

In addition to the entry requirements of the University of Nigeria, candidates for admission into the Department of Economics are required to obtain at least a credit in English Language, Mathematics and Economics in the Senior Secondary Certificate Examination (SSCE)/General Certificate of Education (GCE) or their equivalents.

Direct entry candidates are expected to satisfy the University of Nigeria requirements for admission by direct entry, provided that they obtain at least credit in Mathematics, English Language and Economics at the O level GCE, or its equivalent. The degree programme in Economics is for a minimum period of four years for all candidates, whether admission is by direct entry or UTME.


The University of Lagos ranks as one of the very best universities in Nigeria for any category. It is currently one of the big five federal universities in the country and as such has one of the best Economics departments in the federation. Being a very sought after university, the standard of education at UNILAG is very high and this rubs off on the economics department as well, as Economics has been one of the most competitive courses for social science students for several years now at the school.


The Department of Economics at the University of Ibadan has been able to grow from strength to strength over the years since its inception and this has firmly placed the school as one of the best universities to study economics in Nigeria today. This department has earned its reputation as a leading Department in economics education and research within the African continent and globally.

This feat has been achieved over the course of time, through the untiring efforts of the staff and management, who are desirous to sustain and improve upon the high standards of the University of Ibadan. If you are looking to study economics in the south western part of the country, the University of Ibadan is one of your best options.


The Department of Economics at the Obafemi Awolowo University (OAU) was established in 1962 as one of the foundation Departments of the University. The Department has grown over the years to become the largest in the Faculty of Social Sciences and one of the largest in the University. Economics students at the school are prepared with relevant skills for highly rewarding careers.

The University offers a very broad range of courses spanning almost all aspects of economic and business life leading to B.Sc Economics. Their Students have been doing very well in all sectors of the national economy most especially in the financial sector where many of them occupy topmost positions. Other courses leading to strong academic and business oriented programmes are also offered at Postgraduate levels in economics. OAU also run M.Sc and Ph.D in economics for students intending to pursue advanced course in Economics.


The Department of Economics, ABU Zaria is a dynamic department producing graduates with the best thinking and best capacities for investigating local, national and global economic problems and policy issues as well as globally competitive problem solving, writing and communication skills.

The Department was established in 1966, and it is one of the oldest Departments of Economics in Nigerian Universities. Until 1996, the Department was part of the Faculty of Arts and Social Sciences (FASS). When FASS was split into Faculties of Arts and Social Sciences, the Department became a part of the Faculty of Social Sciences. The Department has since 1966 run undergraduate courses leading to the award of Bachelor of Science degree in Economics.


The University of Ilorin has developed a solid reputation as one of the best schools in Nigeria for quite a long time now and they boast a vibrant economics department that a prospective student should really consider when applying to schools for this course.

The philosophy underlying the B.Sc. Economics programme at UNILORIN is to empower graduates in economics and allied disciplines with a view to resolving social, economic and political problems, not only in domestic affairs, but also in international affairs at large.

Objectives of the Department of Economics at the University of Ilorin include the following:

  • To develop and improve students’ understanding of social problems and the application of this understanding to a variety of environments in general and the Nigerian economy in particular;
  • To develop the student’s critical judgements, ability to observe, understand and analyse information on socio-economic problems using social science methods and techniques;
  • To develop the student’s creativity and development-inducing values such as hard work, probity, commitment, patriotism and discipline;
  • To train manpower for the Nigerian economy and promote the spirit of self reliance.


The Department of Economics at Nnamdi Azikiwe University, Awka took-off in 1985 as a sub-unit of what was known as Department of Political Economy within the Faculty of Social Sciences in the then Anambra State University of Technology (ASUTECH).

Following the creation of New Anambra State in 1991 by the Babangida Administration, Awka Campus which housed the Faculty of Social Sciences became an autonomous institution now known as Nnamdi Azikiwe University, Awka. From then, Economics Unit became an autonomous Department.

The first set of students graduated in 1989. Since then, it has been turning out graduates every session except for 1994/95 session as a result of the nationwide strike by the Nigerian Universities.

Ezeh Emmanuella

Ezeh Emmanuella is an information enthusiast and the Editor of Nigerian Search Guide. She loves to answer search queries on everything Nigeria. She is also the brain behind Ellacious Designs, an emerging fashion brand in Nigeria today.

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