Actuarial Science as an undergraduate programme is the study of mathematics, statistics, finance, and economics to assess and manage financial risks. It equips students with the analytical and computational tools needed to model uncertain future events, especially in insurance, pension planning, investment, and risk management. The programme typically spans four years and leads to the award of a Bachelor of Science (B.Sc.) in Actuarial Science.
Students in this programme study courses such as probability theory, financial mathematics, statistics, life contingencies, risk theory, pension and insurance mathematics, economics, and investment analysis. The goal is to prepare professionals who can design financial strategies, analyze risk, and advise institutions on minimizing potential losses.
Importance Across All Fields and Sectors
Actuarial Science is essential to a wide range of industries due to its focus on risk, finance, and long-term planning:
Insurance Industry: Actuaries help calculate premiums, determine policy structures, and assess risks in life, health, property, and casualty insurance.
Pensions and Retirement Planning: Supports the design and evaluation of sustainable pension schemes and retirement funds.
Banking and Investment: Assesses financial risks, forecasts market behavior, and supports credit risk analysis and asset management.
Corporate Finance: Helps firms manage risk, optimize investment strategies, and plan for future liabilities.
Government and Public Policy: Contributes to social security planning, tax policy, disaster planning, and healthcare funding models.
Consulting: Provides independent analysis and advice on financial strategy, risk modeling, and regulatory compliance.
Academia and Research: Involves statistical modeling, data analysis, and research into evolving financial risks and insurance mechanisms.
O’Level Requirements (WAEC/NECO/NABTEB)
Candidates must obtain at least five (5) credit passes in the following subjects:
English Language
Mathematics
Economics
Any two of the following: Further Mathematics, Physics, Commerce, Government, or Accounting
Credits must be obtained at not more than two sittings.
UTME Subjects
Candidates must sit for and pass the following:
Mathematics
Economics
One other subject from Geography, Physics, Commerce, or Government
Minimum UTME Score
Most institutions require a minimum score of 180–200.
Top universities may require 220 or above.
JAMB Subject Combination
Mathematics, Economics, and one other relevant subject.
Candidates applying for Direct Entry into 200 Level must have one of the following:
At least two A-Level passes in Mathematics and Economics or Statistics.
ND/NCE with merit or upper credit in Actuarial Science, Mathematics, Statistics, Accounting, or related fields.
JUPEB/IJMB passes in Mathematics, Economics, and one other relevant subject.
Some universities may conduct Post-UTME or aptitude tests.
A strong background in mathematics is essential; Further Mathematics is highly recommended.
Applicants with professional qualifications (e.g., ICAN, ACCA, or actuarial certifications) may have added advantage in Direct Entry admission.
Some institutions may accept Commerce, Accounting, or Physics as part of the five required O’Level subjects.
Old Site of Capital Science Academy, Dafara Village, Kuje Area Council, FCT Abuja.
City Campus: Plot 114, Cadastral Zone C20, Sector Centre F, Life Camp FCT, Abuja adjacent to Nizamiye Hospital
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Professor Moussa Mahamat Boukar is a globally accomplished scholar of Computer Science. He was formerly the Dean, Faculty of Computing and Director of Distance Learning and Partnership Programs at Nile University Abuja. During his twelve year stint at Nile University, he also held several other major academic and administrative portfolios with considerable capacity and diligence. A citizen of Chad Republic, Nigeria’s sister neighbour to the north eastern flank, Professor Boukar is one of Africa’s leading scholars of Computer Science. An eminently renowned researcher and administrator, he served in many other top leadership positions in various institutions and organizations around the world.
His education traverses North America, Central Asia and the former Soviet Union. He holds a PhD in Computer Science from International Black Sea University, Georgia, an MSc from International Ala-Too University, Bishkek in Kyrgyzstan, and a BSc in Computer Engineering from the University of Toronto, Canada.
Professor Boukar has authored over 70 research papers published in leading international journals indexed by Scopus and SCI, and has written two influential books. His award-winning research has been presented at 45 international conferences, which earned him 23 prestigious recognitions for its groundbreaking record.
Professor Boukar joins Prime University at a critical juncture in the institution’s foundation years. He is poised to provide the needed leadership, direction and guidance, which are critical in propelling the university towards realising it’s vision of preparing global citizens, who would graduate as professionals, statesmen and business leaders.
His leadership era at Prime University is being anchored on five strategic goals namely: 1. The pursuit of Academic Excellence, 2. Driving Innovation and Research, 3. Propelling Students Enrollment and Institutional Growth, 4. Offering Ethical and Inclusive Leadership as well as 5. Strategic Collaboration and Global Visibility. In achieving these institutional goals, Professor Boukar said he will “continually LISTEN, cautiously LEARN and painstakingly LEAD, which he strongly believes are the three key and mutually inclusive success factors in any competitive and sustainable institutional or organisational stewardship.
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