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NSE Deepens Financial Literacy with 2017 Essay Competition

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By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) has announced commencement of the 2017 NSE Essay Competition with call for entries from students in senior secondary schools in Nigeria.

A statement issued by the local bourse on Monday said the theme of this year’s edition is ‘Investor education is critical to retail investor participation in the capital market. Discuss.’

The NSE Essay Competition is one of stock market regulator’s financial literacy and inclusion initiatives aimed at bridging the gap in classroom learning with practical knowledge required for long-term personal financial planning.

The competition’s overall goal is to develop a culture of wealth creation amongst youth towards ‘Building a Financially Savvy Generation.’

According to Ms Pai Gamde, Acting Head, Corporate Services Division at the NSE, this year’s topic has been selected to highlight the importance of the capital market in the efforts to improve national financial literacy.

“The NSE Essay Competition feeds into the Capital Market Literacy Master Plan; a 10-year Capital Market Master Plan currently being implemented by the Securities and Exchange Commission to increase the proportion of capital market literacy levels from 16% to 40% by 2025,” she said.

“It is important that students and youth understand the significance of the capital market in the Nigerian economy and participate in programmes and initiatives in relation to this sector which will enable them to shape their own lives and make a difference in their communities.

“I therefore urge parents and teachers to encourage students to participate in the NSE Essay Competition,” Ms Gamde added.

Mr Olumide Orojimi, Head of Corporate Communications at the NSE, said the NSE Essay Competition continues to be a force to be reckoned with nationwide, “the success of the competition over the years continues to be encouraging and has motivated The Exchange to sustain the initiative. Since year 2000, the competition has inspired over 37,000 young people from numerous higher institutions and over 7,000 secondary schools across Nigeria to showcase their knowledge of the financial and capital markets. It provides an opportunity for youths to contribute towards the discussions around the capital market and the Nigerian economy.”

“The competition rewards the 10 winners out of which the top three will be presented with equity investments, University scholarship funds and personal Laptops/tablets at the Awards ceremony which comes up in November 2017. The winners will also be honoured with a Closing Gong ceremony at The Exchange. The schools of the top three winners will also be recognised and presented with prizes such as trophies, desktop computers and printers. The competition has already received support from Access Bank Plc and Prime Atlantic Nigeria Ltd and many more expected to join the growing list of sponsors,” he added.

​Intending participants are required to submit their typewritten entries, which should not be more than 1,000 words via email to es***@*****om.ng.

An online submission form is also available on www.nse.com.ng and the Nigerian Stock Exchange’s Facebook page. The entry submission is expected to close on Friday, October 27, 2017.

Recently, as part of efforts to boost capital market literacy, the NSE launched a knowledge platform, X-Academy, which offers bespoke capital market training programmes to equip individuals who will lead and transform businesses for sustainable growth.

This platform will help in strengthening financial literacy and enhance investment in the capital market.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Education

FG Halts Proposed Fee Hike for 2027 WASSCE, NECO Examinations

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By Adedapo Adesanya

The federal government has suspended the proposed review of registration fees for the 2027 West African Senior School Certificate Examination (WASSCE) and the National Examinations Council (NECO) Senior School Certificate Examination (SSCE).

The Federal Ministry of Education made the announcement on Monday in a statement signed by the Director of Press and Public Relations, Mrs Boriowo Folasade.

The ministry announced that the letter conveying the proposed fee adjustment, dated June 18, 2026, has been withdrawn to allow for a comprehensive review and broader consultations with all relevant stakeholders before a final decision is taken.

The Minister of Education, Mr Tunji Alausa, directed that the proposal be placed on hold, with the Ministry acknowledging the concerns and constructive feedback received from the public since the planned increase became known.

The Ministry said the proposed fee review was driven by rising operational costs that have accumulated over several years without a corresponding adjustment to examination registration fees.

It said the current fees have remained largely unchanged for several years despite significant increases in costs covering logistics, security, printing of examination materials, technology deployment, quality assurance and other services required to maintain the integrity of public examinations.

“The proposed review was informed by the prevailing economic realities and the rising cost of conducting credible national examinations,” the statement said.

“The current examination registration fees have remained largely unchanged for several years despite significant increases in operational costs,” the Ministry added.

The ministry said the proposed fee hike will no longer take effect as earlier planned, while acknowledging that the concerns raised by Nigerians warranted a pause in the process.

“The proposed review of examination registration fees will not take effect, as earlier communicated, pending the conclusion of the consultation process,” the statement confirmed, adding that the June 18 letter conveying the proposed adjustment has been formally withdrawn.

“This decision underscores the Ministry’s determination to ensure that policies affecting millions of Nigerian students and their families are carefully considered, socially responsive and reflect the collective interest of the nation,” it said.

The Ministry outlined a fresh stakeholder engagement process that must be concluded before any decision on examination fees is made, signalling that the review has been delayed rather than permanently shelved.

The Ministry said it will engage extensively with examination bodies, state ministries of education, school proprietors and administrators, parents’ associations, organised labour and other education stakeholders as part of the renewed consultation process.

It said the goal of the consultation is to ensure that any future decision is “fair, sustainable, transparent and responsive to prevailing realities while safeguarding access to education,” framing the suspension as a course correction rather than an outright reversal of policy intent.

“The Ministry acknowledges the concerns and constructive feedback received from the public and appreciates the keen interest shown by Nigerians in matters relating to access to quality education,” the statement read.

The Ministry assured Nigerians it would keep the public fully informed throughout the consultation process, saying the welfare of students and equitable access to quality education “remain at the heart of the Renewed Hope Agenda of President Bola Ahmed Tinubu for the education sector.”

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Education

FG Raises WAEC, NECO Examination Fees by 82% to N50,000

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By Modupe Gbadeyanka

The examination fees of Senior School Certificate Examinations (SSCE) conducted by the West African Examinations Council (WAEC) and the National Examinations Council (NECO) have been increased by the federal government by about 82 per cent to N50,000 from N27,500.

A circular signed by the Director of Senior Secondary Education in the Federal Ministry of Education, Mr Adeniji Ibrahim, disclosed that the new fees would become effective in 2027.

In the notice, it was disclosed that the government approved the upward review of the fees following a request by WAEC.

It was further disclosed that the decision to jack up the fees was reached after a March 31, 2026, meeting between the Minister of Education and examination bodies, where the need to review examination fees was discussed.

“You may recall that at a meeting of examination bodies held with the Minister of Education on March 31, 2026, where the need for upward review of examination fees was discussed, the Minister directed that WAEC and NECO should adopt a uniform fee for the conduct of WAEC and NECO SSCE,” the statement read.

“Consequently, I am directed to convey the Minister of Education’s approval of the sum of N50,000 only, as the new examination fee per candidate, with effect from NECO SSCE (Internal), 2027,” it added.

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Education

FIRST E&P Backs Next Generation of Nigerian Engineers at Olympiad Finale

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FIRST E&P Olympiad Finale

**Modibbo Adama University Emerges Grand Prize Winner, Secures N50m

A leading integrated independent exploration and production company with full-cycle upstream delivery capability, FIRST Exploration & Petroleum Development Company (FIRST E&P), has reaffirmed its commitment to developing Nigeria’s next generation of engineers.

This commitment was highlighted during the grand finale of the maiden edition of the Nigerian Engineering Olympiad (NEO), held on Tuesday, June 30, 2026, at Eko Hotel & Suites, Victoria Island, Lagos.

The event recognised outstanding student innovators whose engineering solutions addressed real-world challenges, marking the culmination of months of regional qualifiers, prototype development, mentorship and boot camp sessions that equipped students from universities and polytechnics across Nigeria with practical skills in engineering, innovation and entrepreneurship.

The Olympiad attracted 984 participants across 375 teams from more than 80 tertiary institutions representing all six geopolitical zones of the country.

Delivering the sponsor’s address, the General Manager, Engineering and Capital Projects, FIRST E&P, John Alamu, emphasised that the competition reflects the company’s commitment to equipping students with the practical knowledge and innovative mindset required to excel in engineering and strengthen Nigeria’s future workforce.

Alamu, noting that initiatives such as the Engineering Olympiad provide a structured platform for young talent to transform innovative ideas into practical solutions that contribute to the country’s technological and industrial advancement, stated that, “FIRST E&P believes that developing STEM capacity is an investment in this country’s ability to solve its own problems. The Nigerian Engineering Olympiad has taken young engineers and taught them to think beyond the drawing board, and FIRST E&P is proud to have been a funding partner for this initiative. I commend NCDMB for championing the Olympiad and Enactus Nigeria for successfully delivering a platform that is helping shape the next generation of Nigerian engineers and innovators.”

In his address, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, represented by the Acting Director, Planning, Research and Statistics, Silas Ajimijaye, expressed appreciation to FIRST E&P for their unwavering support in successfully delivering the Olympiad.

Ajimijaye added that the initiative aligns with the Federal Government’s Nigeria First Policy, which aims to build indigenous engineering capacity and equip young Nigerians with the knowledge and skills needed to drive industrial competitiveness, technological advancement, and sustainable national development.

The competition concluded in the awarding of prizes, with Team Mavericks of the Modibbo Adama University of Technology, Adamawa State, winning the grand prize of N50 million and a Centre of Excellence building for its Faculty of Engineering.

The team’s winning innovation, Ubuntu Sapphire, is a community-powered rapid alert system that uses affordable devices to instantly notify neighbouring households and emergency responders during emergencies, offering a practical solution aimed at strengthening community security and emergency response infrastructure.

Speaking after receiving the award, Team Lead, Dr David Patrick, expressed gratitude to the organisers and sponsors for providing a platform that fostered innovation and practical learning.

The University of Ibadan emerged as the first runner-up, receiving N30 million and N75 million worth of engineering equipment for its Faculty of Engineering. The University of Nigeria, Nsukka, secured third place and was awarded N20 million and N50 million worth of engineering equipment. The University of Jos finished fourth, receiving N10 million.

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