Actuarial Science is a multidisciplinary field that combines mathematics, statistics, economics, and finance to assess and manage risks in various industries, particularly in the insurance sector.
If you are interested in pursuing a career in Actuarial Science, this blog post will provide you with essential information about the subject requirements, universities offering the program in Nigeria, and potential career opportunities.
O’Level Subjects & Requirements
To be eligible for admission into Actuarial Science programs in Nigerian universities, you need to have at least five (5) SSCE credit passes in the following O’Level subjects:
- Economics
- English Language
- Mathematics
- Any other two (2) relevant O’Level subjects
Note: Each university may have specific requirements, so it is important to check with your chosen institution for any additional subject requirements or waivers.
JAMB Subjects for Actuarial Science
When applying for Actuarial Science programs through the Joint Admissions and Matriculation Board (JAMB), you must meet the JAMB cut-off mark, typically set at 180. The required JAMB subject combination for Actuarial Science includes:
- Economics
- Mathematics
- Any other one (1) subject
Note: Different universities may have additional subject requirements or waivers, so it is crucial to check the specific requirements of your chosen institution.
Requirements for Direct Entry Candidates
If you plan to pursue Actuarial Science through Direct Entry, you must meet the following requirements:
- Two (2) ‘A’ level passes in Mathematics and English Language
Note: Some universities may have additional requirements or waivers for Direct Entry candidates. It is recommended to verify the specific requirements of your desired institution.
Universities in Nigeria Offering Actuarial Science
Several universities in Nigeria offer Actuarial Science programs. Here is a list of some institutions where you can study Actuarial Science:
- Crawford University, Igbesa, Ogun State
- Edwin Clark University, Kiagbodo, Delta State
- Ekiti State University, Ado-Ekiti, Ekiti State
- Federal University, Dutse, Jigawa State
- Kwara State University, Malete, Ilorin, Kwara State
- Precious Cornerstone University, Ibadan, Oyo State
- Redeemer’s University, Osun State
- Rhema University, Aba, Abia State
- University of Benin, Benin City, Edo State
- University of Lagos, Lagos State
- University of Jos, Jos, Plateau State
- Salem University, Lokoja, Kogi State
Career Opportunities
A degree in Actuarial Science opens up various career paths in the financial and insurance sectors. Here are some potential career options for Actuarial Science graduates:
- Actuary
- Actuary Director
- Asset Liability Manager
- Insurance Underwriter
- Risk Analyst or Consultant
- BPO Administrator
- Administrative Officer
- General Officer
- Financial Service Executive
- Accounts Manager
- Finance Consultants in various Insurance sectors
- Pension Providing Administrator outside of Insurance companies
FAQs
What are the required JAMB subjects for Actuarial Science?
The required JAMB subjects for Actuarial Science are Mathematics, English Language, Economics, and any other subject, preferably one from the sciences or social sciences, such as Physics, Chemistry, or Geography.
Can I replace Economics with another subject in my JAMB combination for Actuarial Science?
No, Economics is a compulsory subject in the JAMB combination for Actuarial Science. It is essential for understanding the economic theories and principles that underpin actuarial science.
Is Further Mathematics Required for Actuarial Science in JAMB?
Further Mathematics is not required in JAMB for Actuarial Science, but having a strong foundation in Mathematics is crucial. However, Further Mathematics can be beneficial and is sometimes required by certain universities at the O’level stage.
Conclusion
Actuarial Science is a versatile and rewarding field that offers diverse career opportunities in risk management, finance, and insurance.
By meeting the subject requirements, choosing the right university, and pursuing relevant internships or professional certifications, you can embark on a successful career in Actuarial Science in Nigeria.
Make sure to check the specific requirements of your chosen university to ensure a smooth application process. Good luck with your academic journey!
