Connect with us

World

Affordability and Hospitality Attracting Foreign Students to Siberian University

Published

on

St. Petersburg Summit Siberian University

By Professor Maurice Okoli

Russia has undergone significant changes after the Soviet’s collapse. In the past thirty years, Russia has engaged in a gamut of structural shifts as aspects of its stages of transformation from the Soviet era. Those measures have noticeably impacted various sectors including education.

In this article, we are specifically focusing on the structural innovations that the largest North-Eastern Federal University has introduced in its operations and in academic curriculum, in addition, it provided an environment to meet the challenges of learning vocational skills, technical engineering, and medical specialities for both local and foreign students in this contemporary times.

Situated in the vast Siberian region, in the city of Yakutsk (Sakha Republic), and has two other campuses in Sakha (in Mirny and Neryungri), North-Eastern Federal University is one of Russia’s ten federal universities with a 90-year history, officially established in April 2010, within the system of reforms carried out in Educational Institution of Higher Education. It is interesting to note, in the first place, that the North-Eastern Federal University was named after Maxim Kirovich Ammosov, a prominent statesman, an outstanding son of the Yakut people, one of the founders of the state of Yakutia and Kyrgyzstan.

Over the past decade, this university has focused on solving geopolitical problems and meeting the human resources needs of the large inter-regional investment projects in the Russian Federation. With this human resource training in mind, it has broadened the geography of admission and extended the chance for foreign students, particularly from Asia and Africa. These students highly appreciate its (university’s) well-developed infrastructure of scientific and educational complex which has modern equipment for learning and training and for the development of basic and applied research in all the specialities.

The university’s annual reports (2021 and 2023) show that Asian and African students are primarily attracted due to affordability, a classic learning environment, and intercultural friendships. With increasing popularity during the past few years, applications have surged, and significant strides have also made it possible to appear in QS University Rankings of BRICS, the informal association of Brazil, Russia, India, China, and South Africa. The ascension of new members such as Ethiopia, Egypt, Iran, Saudi Arabia, and the United Arab Emirates, further offers signals of hope for more foreign students moving to this region.

Recognizing its true potential for expansion, the university officials have frequently visited Asian countries such as China, India, and Vietnam, and also several African countries including Cameroon, Ethiopia, Egypt, Morocco, Nigeria, and South Africa. Foreign students are offered several scholarships and study grants, contract students are given discounts for meeting certain basic conditions and criteria.

Dr Anatoly Nikolaev, the amiable rector of the North-Eastern Federal University, often refers to his university as one of the unique educational hubs created, within the framework of post-Soviet transformational changes, to radically address the challenges and opportunities of Russia’s burgeoning corporate business sector and dynamic entrepreneurial landscape. It has adopted several innovative measures and the necessary educational tools to navigate the labour market by introducing asynchronous learning modules, providing a comprehensive and engaging approach to application and learning processes.

“Ultimately, in today’s changing labour market, our local and foreign graduates easily secure employment in different sectors based on the shared skills and knowledge acquired in NEFU. On our persuasive part, we encourage our staff to focus on teaching aspects of the curriculum such as comprehensive innovation, strategic thinking, and ethical leadership in real-world contexts. With Russia’s role and status rising in the global community, so also we as educators and trainers have to review and restructure our educational assertiveness and dynamics to make a wide-ranging impact and integrate into the competitive regions and in the changing world,” underlined by Dr Anatoly Nikolaev.

Northeastern Promise

At Northeastern, the university believes in your future. It also believes that financing your education is a partnership that continues throughout your enrollment, not just for your first year. Its commitment is reflected in the unique Northeastern promise. The promise enables students to plan for the entire cost of their academic degrees. Under the promise, it guarantees the following:

  1. The North-Eastern Federal University is dedicated to meeting the full demonstrated need of each admitted student eligible for federal financial aid.
  1. The University scholarship and grant funds will not be reduced during your undergraduate program (for up to eight in-class semesters).
  1. The university’s need-based grant funds will be increased annually at the same percentage rate as the increase in tuition.
  1. The University supports that if a student’s family experiences a substantial negative change in financial circumstances, it re-evaluates the aid package and makes available all financial resources for which s/he qualifies.
  1. The University guarantees students discover their field of study interests and scope provided by the university degree whereas the parents get all their answers regarding the safety and comforts of the students during their stay.

Vice-Rector’s Assessment

Mr. Niurgun Romanovich Marksimov, Vice-Rector in charge of International Cooperation, at the North-Eastern Federal University, has emphasized some important points, summarized as follows: There are simple great reasons to study at the North-Eastern Federal University: the first is to learn the Russian language and delve into Russian culture and also interact with foreigners. It gives the chance to know, first-hand, the classic question of whether or not Russia is a European country, its landscape, and its enormous resources. It’s often said that Russia’s charm lies in its people. And finally, it is a way to broaden one’s horizon by studying at this world-class university.

The undergraduate student population numbers over 16,000, while more than 2,000 students are engaged in postgraduate work. 1,081 academic staff are employed at the university. Of these 150 hold doctor’s degrees, 692 are candidates for science degrees. The university consists of 5 research institutes, 12 institutes, 5 faculties, and 3 branches – the Polytechnic Institute in the town of Mirny, the Technical Institute in the city of Neryungri, and the Chukotka branch, which was opened in late 2010 in the city of Anadyr and 2 colleges and 1 Lyceum.

The university has a well-developed infrastructure of scientific and educational complex has modern equipment for the development of basic and applied research. One of the major components of the campus is modern, comfortable dormitories, fully furnished with modern requirements. Non-residents and international students create a comfortable living environment and education, as academic buildings are within walking distance of the campus.

Advantages of Studying in Siberia

Generally, the education system of Russia has made a mark in terms of infrastructure, technology, and quality of education. At present, Russia is one of the top destinations for international students who want to pursue their higher studies in medicine and science abroad. The medical universities of Russia are well-recognized all over the world.

There is a wide choice of promising specialities, unique experiences, and recognized diplomas. Russia has so many international treaties on the recognition and equivalence of documents on education. Natural and scientific education in Russia is one of the best in the world. Russia occupies a leading place in the level of training of mathematicians, physicists, chemists, geologists, doctors, and specialists in many other areas.

Russia has a high theoretical level of education, and good fundamental training, and ensures the success of the graduate in the professional field. Among the graduates of Russian universities – are presidents, heads of parliaments, ministers, well-known public and political figures, and prominent scholars of almost all states of the world.

As popularly known, Russia is not only a great destination for students but also a beautiful country to visit as a tourist. The cost of living is very affordable for foreign tourists. The people of Russia are very friendly and helpful. Being a large country by area, Russia has diverse climatic conditions in various regions.

Future Expectations and Perspectives

According to Mr Niurgun Romanovich Marksimov: “the ultimate truth is that we are prepared to give our students sufficient intellectual power and knowledge, the potential capability of learning something new and, of course, to introduce them to a more critical thinking in society.”

The North-Eastern Federal University welcomes prospective Russian and foreign students every September, the start of the academic year. As generally required, it provides all students with a distinct edge in their future professional endeavours and employment careers.

Russia, the largest country in the world covering more than one-eighth of the land area, is located in in northern Eurasia. Moscow, the capital city of Russia is one of the largest cities in the world. Russia is also one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The country shares its borders with Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Georgia, Kazakhstan, China, Mongolia, and North Korea.

Professor Maurice Okoli is a fellow at the Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences. He is also a fellow at the North-Eastern Federal University of Russia. He is an expert at the Roscongress Foundation and the Valdai Discussion Club. As an academic researcher and economist with a keen interest in current geopolitical changes and the emerging world order, Maurice Okoli frequently contributes articles for publication in reputable media portals on different aspects of the interconnection between developing and developed countries, particularly in Asia, Africa, and Europe. With comments and suggestions, he can be reached via email: ma***********@***il.com.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

AXIAN Energy Secures $60m for Expansion Across Africa

Published

on

axian energy

By Aduragbemi Omiyale

A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.

The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.

It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.

The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.

Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.

Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.

The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”

Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.

“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.

“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”

The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.

Continue Reading

World

S&P Restores Afreximbank to Investment-Grade Status After 12 Years

Published

on

Afreximbank

By Adedapo Adesanya

Credit ratings agency, S&P Global Ratings, has restored the African Export-Import Bank (Afreximbank) ​to investment grade, nearly 12 years after its last assessment, citing the entity’s countercyclical lending record and ‌strong shareholder support.

The BBB+ rating with a stable outlook is one notch above Moody’s Baa2 and comes months after Afreximbank severed ties with Fitch Ratings.

The lender accused the agency of misjudging its mission, following a downgrade to junk status amid disagreements over the bank’s role in debt ​restructurings for Ghana and Zambia. Fitch subsequently withdrew its ratings entirely and flagged governance concerns.

S&P said in ​a statement on Thursday that Afreximbank’s record as a countercyclical lender and its substantial shareholder ⁠support served as rationale for its rating. Credit ratings often guide the costs of capital for a borrower.

The lender’s total assets, S&P noted, had expanded to $42.3 billion by the end of 2025, up ​from $7.1 billion in 2015.

S&P said it did not incorporate preferred creditor status into its assessment because Afreximbank ​provides almost 80 per cent of its loans to private-sector entities.

However, it acknowledged that Afreximbank, alongside other institutions, had experienced prolonged payment arrears in ‌recent ⁠years, notably following the defaults and debt restructurings in Ghana and Zambia.

S&P noted that Afreximbank said in December that it had come to an agreement with Ghana on its $750 million loan, but that the lender had not announced a resolution with Zambia.

The agency warned that further sovereign restructurings could weigh on Afreximbank’s asset quality.

S&P’s assessment described Afreximbank’s governance and management as “adequate”, saying the ⁠inclusion of ​two independent directors and the African Development Bank (AfDB) as a permanent board ​member provided institutional oversight.

It noted that while increasing participation of private-sector investors through Class D shares could influence the bank’s risk appetite, Class A ​shareholders retained veto rights over big institutional changes, balancing potential risk.

Continue Reading

World

Elon Musk Becomes World’s First Trillionaire as SpaceX Soars in Nasdaq Debut

Published

on

elon musk spacex

By Adedapo Adesanya

Mr Elon Musk, the world’s richest man, is now a trillionaire as his SpaceX rose 11 per cent in its Nasdaq debut on Friday, lifting its valuation to about $1.96 trillion as investors piled into the world’s largest initial public offering (IPO).

The stock opened for trading at $150 compared with the IPO price of $135 per share.

The landmark listing cemented Mr Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the ⁠world’s most valuable companies

The listing is being used as a benchmark of what is to come for the market ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The record IPO is a culmination of Mr Musk’s long-held ambitions in space and technology.

Most of Musk’s wealth now rests with SpaceX, where ⁠he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading on Friday.

At a quoted $75 billion, the deal’s proceeds were more than double those of Saudi Aramco’s record-setting 2019 IPO.

The valuation could rise further should underwriters exercise their right to sell additional shares, a decision typically made within 30 days after the offering.

Although SpaceX may have to wait for entry into the S&P 500, its expected fast-track inclusion in the Nasdaq 100 will soon make it a major holding for passive funds and ETFs that track the index, creating a fresh source of demand for its shares.

It will take about a month before it gets added to that index under Nasdaq’s new fast-entry rules, as opposed to a typical wait of as much as a year.

SpaceX said its market opportunity spans $28.5 trillion, a figure it called the largest in human history.

Mr Musk, 54, was born in Pretoria, South Africa, to a Canadian mother and South African father. He attended the University of Pennsylvania, graduating in 1997.

He took over as Tesla’s CEO in 2008. Beyond Tesla and SpaceX, Mr Musk ‌has co-founded ⁠five other companies, including tunnelling startup The Boring Company and brain implant maker Neuralink.

Continue Reading

Trending