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Preparing Your Child for Study Abroad

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Study Abroad

By FBNQuest

Parenting is a full-time job no one prepares you for. First off, you are putting someone’s life, cares and burdens over yours consistently for the reward that takes the form of an indescribable love you feel when you look at your child.

That desperate desire to give this other human being everything that you never had and more, while always thinking about their best interests and preparing for their future. Such is the path of parenting which often leads you to make the move to prepare them for a study abroad in the first place.

Education is an investment that provides a firm foundation for the future and the better the quality of education, the higher the chances are of securing an enriching or fulfilling future, which is what you are probably looking to afford for your child or ward.

Although, affording quality education for your child is easier said than done, especially if you are considering education in a foreign country. But it does get easier with the right plan and preparation ahead of time, so you don’t have to worry about the next move to make for their progress. How exactly should you prepare to give your child this quality education abroad? Below are a few helpful tips for every parent preparing their child for education abroad.

Create a Checklist

Firstly, you will need to make a list of every requirement for your child’s education abroad. From information about the school and region you are considering to requirements for the study and immigration, you would need to take everything into consideration before your child leaves and tick the boxes once each task is completed. This will help you keep track of your progress and serve as a record of your activities, so you would not miss anything important. This list should include timelines, deadlines, cost implications, long and short term steps.

Review the Region, School and Course of Study

The next step is to work with your child to determine what their plans and aspirations are and guide them through choosing courses as you prepare them mentally for the journey. Also, work with them to choose schools that offer courses related to their shared plans.

Please note that Ivy league schools for example are not in the same financial category as state universities. These are factors that you should consider as a parent or guardian when you are making school choices with your child/ward.

Make Emotional and Physical Preparations

Once you decide to send your child abroad to study, you need to prepare them emotionally and physically. Prepare them to be independent, to be able to be away from home, to be able to make spur of the moment decisions without consulting you.

Also, teach them how to be financially independent. They need to know how to budget, plan and spend without you looking over their shoulders. Prepare them emotionally to be goal-oriented and remember where they find themselves, there is a goal and their eyes should always be on the ball.

Register for External Examinations

A couple of external examinations are a prerequisite for admissions in most Western countries. These exams differ by country sometimes and by the school too.

There is the International English Language Testing System (IELTS), Test Of English as a Foreign Language (TOEFL), Test de Connaissance du Français (TCF) and Test d’Evaluation (TEF) for Francophone countries, International General Certificate of Secondary Education (IGCSE) for the United Kingdom, American College Test (ACT) and Scholastic Assessment Test (SAT) for the United States of America, Deutsche Sprachprüfung für den Hochschulzugang (DSH) and German as a Foreign Language (TestDaF) for Germany just to mention a few. Ensure your child is prepared for these exams and that their results meet the criteria provided by the alternatives you have both decided on.

Get the Required Documentation

There is an extensive list of documents that cannot be obtained overnight.

  • A passport is extremely important because it is needed for them to even leave the shores of your home country.
  • A Student Visa allows your student to live abroad for a specified period. Each country has a different application process. You can visit the school’s website for the embassy or consulate of the country they are travelling to. They should provide you with all the necessary details you need for the visa application process.
  • International Certificate of Vaccinations should also be considered especially in light of the COVID-19 Vaccine which is now a travel prerequisite. As you prepare these documents, do not forget to make copies before your child leaves.

Schedule a Health Check

Schedule doctor visits before your child leaves. Some schools and visa application processes make health and medical checks mandatory. Ensure your child is in good health and can take care of themselves or manage a health condition on their own.

In cases where the child has pre-existing medical conditions, be sure to inform the school and make accommodation choices based on proximity to clinics and or weather information and convenience. Ensure to also get a health insurance cover that will step in if they need it.

Make Funding Arrangements

Securing citizenships, visas, enabling environments via vacations are fantastic and being proactive. However, it would be prudent for you to start planning financially even before the child is born.

Proactive planning will help you save money, take away the pressure, prepare you and your child for the future and generate dividends for the present. You can consider the products offered by FBNQuest that support children’s education such as the FBN Children Education Trust and the FBN Education Endowment Plan.

Here are a few ideas to help you build up funds for your child’s education abroad.

  • FBN Education Endowment Fund – The FBN Education Endowment Plan is a goal-based investment management solution specifically created to help parents/guardians save for their children’s education and ensure continuity of their education by providing added benefits such as Insurance and Trust. The good thing about this plan is that it is time-based. It can span for as long as 5-10 years and as short as 6 months. It allows for flexible contribution plans so you finance hassle-free. It also assures that all education needs will be met.
  • Liquidity Management – Stacking up shares and stocks and liquidating when you need physical cash is another means of planning for the beautiful future that you want for your child. However, there is a need to work with a portfolio manager who can advise you on what stocks and shares to buy, when to buy and then to sell to grow the education funds for your child’s study abroad. FBNQuest offers excellent liquidity management solutions.
  • Mutual Funds – Mutual funds as an investment plan provides you with access to investment markets by pooling your money with the money of several other individuals with similar investment goals. This allows you to diversify your investments and assists with minimising the potential risks typically associated with investing.

It’s flexible and allows you time to be consistent at depositing or to just put in what you intend to multiply for future use. FBNQuest offers a wide range of mutual funds to invest in, including; FBN Money Market Fund, FBN Bond Fund, FBN Balanced Fund, FBN Eurobond Fund, FBN Smart Beta Equity Fund and FBN Halal Fund.

  • FBN Children Education Trust – An educational trust specifies that trust funds are to be used for education. In the trust document, the grantor names a trustee and beneficiaries, and also specifically states your true intention and goals and details on how the trust money is to be used. You can create an education trust fund for your child and the Fund shall be locked up for an initial minimum period of 2 years before withdrawals can be made.

Conclusively, education on its own is an investment and giving your child the best is an investment into the future and this comes with a price. However, preparing and planning with a holistic strategy makes your child’s experience whole and hassle-free.

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Education

Dangote Refinery Gives Scholarships to 473 Students

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Dangote Refinery Scholarships 473 Students

By Modupe Gbadeyanka

No fewer than 473 students from 10 secondary schools and seven tertiary institutions have been awarded scholarships by the Dangote Petroleum Refinery and Petrochemicals, in partnership with Dangote Fertilisers Limited.

The beneficiaries were from the host communities of the organisations located in the suburb of Ibeju Lekki, Lagos State.

Students, parents, teachers, and community leaders expressed their immense joy as the scholarship certificates were presented to the beneficiaries, alongside educational materials, including textbooks and notebooks, as part of the 5th Dangote Scholarship Award Programme

“Education, as we all know, is the passport to the future. At Dangote, we believe education is not just a privilege but a right every child deserves.

“This belief has fueled our dedication to supporting students and schools in our host communities since the year 2019 when we launched the Scholarship Award Programme as a key pillar of our Community Development Plan, with year-on-year progress,” the Group Vice President of Oil and Gas at Dangote Industries Limited, Mr Devakumar Edwin, said,

He remarked that the initiative is not merely a celebration of achievements but a reaffirmation of the group’s commitment to nurturing potential, empowering communities, and shaping a brighter future for the leaders of tomorrow.

Praising the students for their academic dedication, which he acknowledged has resulted in remarkable growth over the years, Mr Edwin highlighted the impressive year-on-year progress—from 56 students in 2019 to 450 beneficiaries in 2024.

He also noted that the decision to donate the 804 tables and chairs to schools was part of the company’s broader commitment to enhancing the learning environment. This gesture, he emphasised, is a testament to the company’s dedication to ensuring that every child has access to a conducive environment for learning, where they can grow, dream, and thrive.

“To the scholars here today, you are at the heart of our initiatives. Your dreams, aspirations, and hard work inspire us to continue making a difference.

“As you embark on your academic journeys, remember that the support you receive today is a seed sown in fertile ground. Nurture it with dedication, perseverance, and a spirit of excellence, and it will yield remarkable fruits in your future.

“I would like to extend my heartfelt gratitude to our community leaders, and dedicated school administrators who work tirelessly to ensure the success of these initiatives. Your partnership and support are invaluable, and we are honoured to work alongside you in empowering the next generation,” Mr Edwin added.

The Managing Director of Dangote Industries Free Zone Development Company (DIFZDC), Mr Olayinka Akande, urged the beneficiaries to uphold excellence, which he identified as one of the core values of Dangote Industries Limited.

Emphasising the importance of dedication and diligence, he encouraged the students to aim high, noting that with such attributes, some of them could rise to become governors, ministers, captains of industry, or even the next ‘Edwin’ in the future.

The Head of Social Performance at Dangote Petroleum & Petrochemicals, Ms Ogunleye Mojisola, highlighted that the education intervention is one of the four pillars of the Community Development Plan, which was jointly designed with the community.

“The increase in the number of beneficiaries each year is a clear indication that the initiative is fulfilling its purpose, motivating students to study hard and achieve academic excellence,” she remarked.

On his part, the Aro of Lekki Kingdom, Mr Adewale Salami, who represented the Oni of Lekki, conveyed his appreciation for the intervention, affirming that the company is helping to shape the future of the community. He also expressed the kingdom’s continued support for Dangote Industries Limited.

The Chairman of the Lekki Coastal Area Development Association, Mr Wasiu Ayeola, praised the founder of Dangote Industries Limited, Mr Aliko Dangote, for transforming what was once a hunting ground of rabbits and lizards into a multibillion-dollar investment that benefits not only the local community and Lagos but also Nigeria and the world. He emphasised that education is the most effective way to shape the future of the community.

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Education

InterswitchSPAK 6.0 Winner Gets N15m Scholarship, Others

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InterswitchSPAK 6.0 Winner Henry Ndudu Ekong

By Aduragbemi Omiyale

The winner of the sixth edition of the InterswitchSPAK, Henry Ndudu Ekong, has earned a university scholarship valued at N15 million, awarded over five years, including a monthly stipend and a new laptop to support his academic journey.

This has made the student of Pegasus School, Akwa Ibom State, as the best STEM student in Nigeria, beating the other competitors at the just-concluded of the famed national science competition.

The first runner-up was Eric Denyefa Omare from St. Gregory’s College, Lagos and received a N10 million scholarship awarded over three years along with a laptop, while the second runner-up was David Umeojiaka from Graceland International School, Rivers State, receiving a N5 million scholarship for one year and a laptop as well.

Cash prizes were also awarded to students placing fourth through ninth, while the top 18 semi-finalists and 27 dedicated teachers received special recognition awards.

Additionally, the top 200 preliminary qualifiers were granted JAMB e-PINS, enabling them to register for the Joint Admissions and Matriculation Board (JAMB) exams at no cost.

This year, Interswitch increased the total prize pool significantly, raising it to over N30 million, representing a 140 per cent increase from the previous N12.5 million, reinforcing Interswitch’s commitment to advancing education.

InterswitchSPAK 6.0 saw laudable participation, with more than 16,000 students registered nationwide at the start of the competition.

This landmark competition highlights Interswitch’s ongoing efforts to inspire, support and empower Nigeria’s next generation of thinkers and innovators.

As the competition continues to grow, Interswitch remains dedicated to driving the country’s advancement in science and technology by investing in initiatives that foster academic excellence and innovation, ensuring that Nigeria's brightest minds have every opportunity to contribute to a more prosperous and technologically driven nation.

Commenting on the competition, the Executive Vice President for Group Marketing and Communications at Interswitch, Ms Cherry Eromosele, emphasized the critical role of STEM education in Nigeria’s growth and Interswitch’s dedication to cultivating young talent and driving meaningful innovation.

“At Interswitch, we believe that Nigeria’s future lies in the hands of our youth, especially those who are passionate about science and technology.

“InterswitchSPAK 6.0 exemplifies our commitment to empowering these bright minds by providing them with the tools, skills, and resources they need to innovate and excel.

“Our investment in STEM education not only fuels individual success but also drives economic growth and societal progress, building a brighter future for Nigeria,” she said.

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Education

National Assembly to Stop FG from Funding JAMB, Queries N1bn for Meals

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JAMB Registrar Ishaq-Oloyede

By Adedapo Adesanya

The National Assembly comprising the Senate and the House of Representatives has resolved to remove the Joint Admissions and Matriculation Board (JAMB) from the Federal Government’s 2025 budget grant, citing concerns over the board’s financial management.

Lawmakers argued on Monday that it is unjustifiable for JAMB to remit N4 billion to the federation account while receiving N6 billion from the government in 2024.

This decision followed a presentation by JAMB Registrar, Mr Ishaq Oloyede, before the joint committee of the Senate and House of Representatives, led by Mr Sani Musa, during an interactive session on revenue projections for 2025.

Mr Oloyede revealed that JAMB remitted N4 billion to the Consolidated Revenue Fund but received N6 billion from the federal government in 2024, prompting committee members, including Mr Abiodun Faleke and Mr Adams Oshiomhole, to question the rationale behind funding a self-sustaining agency with government grants.

“You remitted N4 billion and received N6 billion from the federal government. Why not keep the N4 billion and stop the government from funding JAMB?” asked Mr Faleke, the Chairman of the House Committee on Finance.

On his part, Mr Oshiomhole criticized JAMB for spending N1.1 billion on meals and refreshments last year, querying, “Are you being freely fed by the government? This money comes from poor students, many of whom are orphans.”

He also questioned the N850 million spent on security, cleaning, and fumigation, and N600 million on local travels, challenging the justification for these expenses.

Further scrutiny was directed at the N6.5 billion allocated for local training and N1 billion for a staff housing scheme.

Mr Oshiomhole then called for a breakdown of these expenditures.

In a related development, the Senate expressed concern over the low remittances from MDAs in 2024, pointing to a significant gap between the revenue generated and amounts remitted to the federation account.

This was disclosed by Mr Sani Musa, the Chairman of the Joint Finance Committee of the Senate and House of Representatives, during an interactive session on revenue projections by MDAs for 2025.

Mr Musa highlighted the Senate’s deep concern over the significant gap between the substantial revenues accrued by these agencies and their consistently low remittances to the federation account.

He pointed out that this discrepancy hampers the government’s ability to fund critical infrastructure projects and social services, raising issues of inefficiency, mismanagement, and potential revenue leakages.

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