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10 Cheapest Countries in the world to Study for Nigerians

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Due to the present educational system in Nigeria, a lot of parents now fancy the opinion of making their children/wards to apply for admissions in universities outside the country. It is no longer a hidden fact that Nigerian students wouldn’t turn down an offer of admission to school in a foreign or European country, even if such student will have to start afresh from a fresh year of academic study.

You may ponder on why most Nigerians like to continue their education abroad; the answer is best known to them. In this article, I will be highlighting on the top ten countries in the world which will be a cheap option to Nigerians looking forward to study abroad.

  1. India: India is quite affordable and it remains a good ground for studying because of their educational system which has received investments and support in recent times. Most universities in India such as Indian Institute of Science Bangalore, Indian Institute of Technology Bombay, Jadvapur University, University of Calcutta, Indian Institute of Technology Kanpur, University of Delhi, Indian Institute of Technology Kharagpur made the top 1000 global university ranks. India has one of the fastest growing economies, which makes it one of the top choice countries for students in the field of sciences to study. Fees depend on the schools but normally, they charge around $2500 annually for both undergraduate and post graduate programs.
  2. Italy: The tuition fee of universities in Italy are quite cheap and friendly even for international students. The Italian education offers the best education in areas relating to fashion, arts, history, liberal arts, music etc at a low cost. Generally, it is said to be the best country to study arts. The average tuition fees in Italy is at €1,000 per academic year.
  3. Germany: Tuition fees in German regions are normally low. A city like Munich has an average low tuition fee at the rate of $1000 (USD) while some public universities do not charge tuition fees at all for both home made and international students. Top universities in Germany are Humboldt-Universität zu Berlin; Ludwig Maximilian University of Munich and Technical University, Munich.
  4. Hungary: Nigerians searching for countries to study abroad can include Hungary to their list of countries to study. Universities in Hungary are affordable, accommodation and tuition charges inclusive. The average tuition fees is at €1,000 per academic year, so it remains a good destination for Nigerian students searching for affordable country cities to study.
  5. Austria: This shouldn’t be likened with the country and continent ‘Australia’. The cost of living in Austria is not as expensive as other European countries. For instance, public universities in Austria pay an average tuition fee of just €726 and additional €20 for insurance for every semester. Its top universities are University of Vienna, University of Graz etc. The averahe tuition fees payed is USD $1000 for every academic year.
  6. Belgium: The European country has a high quality and standard of living but maintains a low cost of living which favors students. Its top universities chosen by international students ate University in Leuren, Belgium and Vrije Universiteit Brussel (VUB). The average tuition fees payed for every academic year ranges from $1000 to $1500.
  7. France: France has been chosen as one of the overall best student city choice for students. Apart from the capital base city of Paris, which is expensive, other cities such as Bordeaux, Sochaux, Lyon, Marseille are quite cheap for students. The accommodation fee packages of French universities are friendly to international students. Its average tuition fees is US $1000 and the top choice chosen universities are the University in Lyon, and Université Jean Moulin, Lyon.
  8. Norway: Universities in Norway offer tuition fees for international students; of which includes Nigerians. The students are charged a token of $100 for each semester. The tuition fees are pocket friendly, only that the cost of living in Norway is higher than that of other countries in Europe. Public universities are free but private universities charge students for tuition fees. Top universities in Norway include University of Bergen, University of Oslo, Norwegian University of Science and Technology.
  9. Sweden: International students from outside the European countries pay tuition fees in Sweden. PhD programs are tuition free for international students in Sweden. The cost of living in Sweden is high. The average tuition fees for students are SEK80, 000 per academic year.
  10. Ukraine: Lastly, the universities in Ukraine offers one of the cheapest education and tuition fees compared to some other countries in Europe. Admission requirements in Ukraine are not as stringent as that of other schools; all payments are made on arrival. In addition, the cost of living in Ukraine is low and students looking to study in Ukrainian universities are assured of approved students visa if applied. Top universities for international and Nigerian students to study in Ukraine are Ukrainian Medical Stomatological Academy, Crimea State Medical University.

 

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Education

Top 10 educationally advanced countries in the world

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According to former South African president and legend, Nelson Mandela, he emphasized on Education as “the most powerful weapon which can be used to change the world”. You may be pondering on how education can be used as a weapon when there are dangerous and life threatening weapons such as an missile tank, suicide belt, AK-47 rifle, suicide bombs, nuclear weapons etc.

Education is a powerful weapon because the success of a community or country depends solely on its educational level and system. Any country which has low focus and a low concentration towards education will wallow and drown in poverty. In no hierarchical order and position, you will know the best 10 countries which are advanced in education through this article.

  • Australia

Australia is an educated country which has a high proportion and percentage of adults who have gine and passed tertiary education. It is said that 43% of its adults have trained at an institution after leaving school. Also, 94% of citizens above the age of 25 years have gotten secondary school education at least. Australia supports education and the educators by giving the teachers incentives and make steps to pay teachers. The education system is high in Australia.

  • Japan

In Japan, the focus on education is very serious. The rate of drop-out students is 2% which is low. Also, Japan’s students records a high performance in science related subjects and courses. The focus on education has paid off as the literacy rate of their population (127 Million) is at just 99% which leaves the illiteracy rate at a rate of 1%.

  • South Korea

Just as Japan, the focus on education in South Korea is intense. Students are being academically assessed by being assigned to private and public high schools. With a population of 49 million people, education is one of the top objectives of parents and schools in South Korea. The students spend long hours of study and cram teachings everyday.

  • Finland

The educational system in Finland has been compared with that of the United States of America. Finland graduates are expected and required to have a master’s degree in education as 10% of its graduates are being selected annually to work as teachers.

  • Norway

Norway is one of the countries that provides low tuition for students. Norway prioritizes the need for education for her citizens. With a population of 5.1 million residents, Norway spends 6.6% of her Gross Domestic Product (GDP) on education; a rate which is nearly 1.5% less than what the United States of America does. With its high level of taxation and a high cost of living, Norway invests heavily on education and devotes an expenditure of $14,000 (£11,000) per pupil annually from primary education to secondary education. Norway keeps their student to teacher ratio below 9:1; health, music, physical education, arts and crafts are also part of their education curriculum program. 100% of the Norwegian school-age population is enrolled in school, 97 percent have gotten a secondary school education at least. Their educational system is clearly working.

  • Singapore

The South east Asian country has an exam oriented educational system that strives to teach children in the area of problem identification and problem solving. Students in Singaporean schools have a good knowledge on how to conquer test, maths and have a high ranking in Science, reading and cognitive skills. That is why the education system in Singapore is highly regarded as one of the best in the world.

  • Netherlands

The Dutch country rank well in the field of education. One third of the 25-64 year old population holds a university degree. In Netherlands schools, learning is easier and fostered as non-speaking Dutch students are being taught with languages which are other than the native Dutch language.

  • Belgium

In Belgium, education is no joke at all. Higher education pays high in the European country. The unemployment rate in Belgium is lower than any other European country on an average level. Unemployment rate for people who have had tertiary education in Belgium is at 3%. Teachers are motivated and given incentives to work in Belgium as teachers are being paid on a average rate of £57,000 ($74,000). This means that the teaching profession is a well paid one in Belgium.

  • United States

United States of America is an educational advanced country. A large chunk of her adult population have a university education (43%). In the list of developed countries in the Organization for Economic Co-operation and Development (OECD), it has the 5th highest proportion.

  • United Kingdom

99% population of British citizens in the UK has acquired and had secondary education. With a population of 64 Million people, England is currently planning on how to accommodate 750,000 students because their department of Education has an estimated figure of 750,000 students plus by 2025.

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10 Nigerian Scholarships for Undergraduate Students And Their Worth

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Students in higher tertiary institutions in Nigeria are particularly interested in scholarships opportunities. If you have been searching for scholarship opportunities for undergraduate students in Nigeria that will sponsor your education for your entire duration in the university, then you should consider reading this article to know the available scholarship opportunities and the benefits that awaits you.


10 Nigerian Scholarships for Undergraduate Students

  • NNPC/Shell SNEPCo Undergraduate Scholarship

This scholarship is only open to 100 Level students in tertiary institutions inside Nigeria. It is worth ₦50,000 and it is being initiated by a petroleum company, Shell Nigeria Exploration Company (SNEPCo) .

  • MTN Foundation Scholarship For Undergraduate Students

The MTN Foundation Science and Technology Scholarship scheme is made for the second year students (200 L) who are studying their various courses in public tertiary institutions (universities, polytechnics and colleges of education) which are in Nigeria.

The scholarship scheme offers assistance to students in the area of meeting up to the financial standard requirements for their education. It major aim is to recognize and reward students in the area of academic excellence. This scholarship is worth ₦200,000.

  • PTDF Undergraduate Scholarship

PTDF is an acronym for the Petroleum Technology Development Fund. It was established by the Decree 25 of 1973 under the Federal military government of General Jack Yakubu Gowon with a mandate to train Nigerians in participate in the Oil and Gas industry of the country. The scholarship is for Nigerian students; over the years, it has awarded undergraduate and postgraduate scholarships to Nigerian students studying Oil and Gas courses. The scholarship is worth ₦250,000 and a laptop.

  • Agbami Medical Engineering Scholarship

The scholarship is funded by Star Deep Water Petroleum Limited, which happens to be a Chevron company. /Agbami Partners. The scholarship is mainly for Medical and Engineering students students. Its worth is ₦200,000 for medical awardees and ₦100,000 for engineering awardees.

  • NNPC/Chevron Scholarship

This scholarship is a joint venture initiative by the Nigerian National Petroleum Company (NNPC) and its partner, Chevron Nigeria Limited. It offers scholarship awards to qualified university students, which is for undergraduate 200 Level students in tertiary institutions in Nigeria. The scholarship is worth ₦150,000.

  • Total Scholarship Undergraduate Scheme

Total Nigeria Limited awards scholarship to Nigerian students in secondary and tertiary educational institutions along with students in postgraduate programs. 100L and 200L Students in recognized tertiary institutions are awarded scholarships. The scholarship is worth ₦150,000.

  • Jim Ovia Foundation Scholarship Scheme

The Jim Ovia Foundation Leaders Scholarship Fund (JOFLSF) gives scholarship awards to Nigerian students all levels of their undergraduate degree programs. It gifts young Nigerians with the opportunity and privilege by financing a four-year degree programs to attend and study at world class tertiary educational institutions. The institutions are Covenant University in Idiroko, Otta, Ogun state and Ashesi university in Ghana. The scholarship worth is ₦150,000.

  • NNPC/Addax Scholarship

It offers scholarship awards to undergraduate students in Nigerian tertiary institutions. Unlike some other scholarships, their scholarship is not awarded annually. The scholarship is worth ₦150,000.

  • Federal Government FSB Award Scholarship

Through the Federal Ministry of Education, the Federal Government of Nigeria offers local scholarships awards and Bilateral Educational Agreement (BEA) Oversea scholarship awards to undergraduates (200L. 300L and 400L), masters and doctoral students in educational tertiary institutions in Nigeria.

Eligibility for the scholarship for undergraduate degree courses, applicants must posses a minimum qualification of 5 distinctions in their Senior Secondary Certificate Examinations (SSCE), whether in WAEC or NECO (May/June); only in subjects which are relevant to the course in their field of study which includes Mathematics and English Language. However, the certidicate shouldn’t be more than 2 years of age and the age limit of the scholarship is a minimum of 18 years and a maximum of 22 years old. The scholarship is worth ₦150,000.

  • NAOC Scholarship Awards

Lastly, the Nigeria Agip Oil Company (NAOC) is an oil and petroleum company which operates in the Niger Delta area of Nigeria. It is also under a joint venture agreement with the Nigerian National Petroleum Company (NNPC). Eligibility for the scholarship is for qualified 100L students in recognized tertiary institutions of Nigeria. The scholarship is worth ₦100,000.

We hope that as a student, you take advantage of these opportunities as they will make your studies a lot easier by reducing your financial workload.

 

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FOREX TRADING FOR BEGINNERS – A DETAILED GUIDELINES IN 2021

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Understanding forex simply means having a clear grasp of what forex means. Perhaps, this understanding is the first wealth of knowledge you need to acquire as a precursor to Forex trading.

In plain explanation, forex is a term comprising two words: foreign and exchange. Therefore, forex may be described as a transactional system involving the exchange of global currencies.

Broadly, forex is widely adopted across areas of human endeavour including international trading, tourism and commerce. While forex is associated with a whole lot of intricate terms, it is worthy of note that the foreign exchange market is largely influenced by varying interest rates, the economic strength of countries and various geopolitical factors.

In most cases, countries of the world adopt different currencies, making it essential for people to exchange currencies. To better explain this, one may cite the case of a buyer based in the US but who has to buy a product from a merchant in Italy. Since Italy and the US have their separate currencies, these two parties (the seller and the buyer) will have to trade in a single currency. The value of the product will then be expressed in the trading currency.

The preceding citation of cross-border trading may be adopted in explaining how forex trading is done. Forex trading, therefore, involves exchanging one currency for another at a price agreed by trading parties.

Understanding How the Market Works

Exchange of currencies takes place on the foreign exchange market and this market is regarded as the foundation of global business. This market may appear complex to understand but you really have to exert every pinch of effort needed for understanding how it works.

What you should first know about the foreign exchange market is its lack of regulation by any central authority. Rather than experiencing centrally regulated trading, the foreign exchange market is associated with electronic trading through Over-the-Counter (OTC) broker-dealer networks. This OTC is basically the medium adopted by forex brokers and dealers for the exchange of currencies.

As a complex marketplace, the global forex market is composed of three submarkets namely the forwards market, the spot market and the futures market. Notably, the just-mentioned markets are the market choices that forex brokers and companies can select from. However in general, global forex trading can be done in any of the leading financial markets in London, Sydney, Hong Kong, Paris, Frankfurt, Tokyo and Zurich.

You may get confused trying to understand how the three markets in foreign exchange work. But advisably, you should note that the spot market is the major market as it is composed of deals trading in real currency. Quite importantly, this spot market is most favoured by individual traders and it further serves as the basis for trade deals in the futures and the forwards markets.

The futures and the forwards markets are useful for lessening the risk of fluctuating exchange rates in the purchase of substantial values of foreign currency. While these (two) markets are basically used by big multinational companies, they generally deal with the sale and purchase of contracts for specified currency rates and quantities, wherein the contracts imply unanimous future expiry dates. Unlike the spot market, futures and forwards do not deal with actual currency but currency contracts bearing specific rates and quantities.

Understanding Your Preferred FX Currencies

In obtaining the requisite knowledge for forex trading, you shouldn’t downplay the need for understanding your preferred currencies. There are ways for keeping yourself conversant with preferred currencies for foreign exchange and one of such ways is keeping an eye on the political and economic news of countries using the currencies. You’ll have to do this simply because certain domestic factors in a country combine with economic and political factors in affecting the value of the country’s currency.

Also, you should keep a watchful eye on global political and economic news as doing that will help you better decide the suitable currencies to trade in.

On getting exposed to the pool of currencies in the foreign exchange market, you may find a pretty number of currencies which look auspicious. However, you shouldn’t consider that enough reason to begin trading in such currencies. Quite frankly, you’ll have to keep a close eye on happenings in the countries where such currencies are used. Particularly, keeping yourself abreast of the political and economic happenings of a country should help you foresee events that could affect the country’s currency.

In the real sense, you’ll acquire ample knowledge of specific currencies by following news about countries spending the currencies on the one hand, and by keeping track of global political and economic news on the other hand.

 

Practising with a Demo Account

Obviously, one way you can have an insightful shot at learning forex trading (before you actually begin trading) is practising with a demo account. You could belong to the set of individuals who better learn things through practical exposure. But because forex trading is very risky, it is advisable that you begin your practical exposure with a demo account rather than a real trading account.

If you really don’t have the luxury of time to sit with an expert trader and learn forex trading from them, you can simply resort to practising with a demo account. Using such an account, you’re practically free from trading risks since you’re neither trading with money nor engaging in any real-life trading activity.

Most importantly, practising with a demo account does have a couple of advantages as it opens your eyes to the techniques of forex trading, how to trade on a given platform and the operational background of the forex market.

While practising with a demo account, you’re certain to make trading mistakes but the good thing here is that you’ll easily learn from the mistakes without losing anything in reality. Finally and most interestingly, your practical experience with forex trading, through a demo account, should help you develop the right trading habits.

Tips for Successful Forex Trading

Having a definite trading plan –a definite trading plan, which you can always work with, constitutes the ingredients of successful trading. For such a plan to yield success, it must incorporate your standards for evaluating currencies, your trading method, your level of risk tolerance and your expected trading profits. Nonetheless, you should always note that one important thing is having a definite plan while another is sticking to the plan all through.

Identifying trading opportunities –opportunities tend to find their way into trading situations and it behoves you to utilize appropriate tools in identifying these opportunities. Basically, you’ll want to use varying tools depending on whether you’re a fundamental or technical trader.

Technical traders utilize special analytical tools while fundamental traders zero in attention on financial and political news in deciding when to trade. By leveraging on the tools or informative data best suited for your kind of trader, you’re likely to identify trading opportunities and cash in on them in the long run.

Trading within Your Limits –in the real sense, what this means is avoiding costly risks; these are probably risks so great that they’ll cause you to lose more than you can afford. Trading within your limits implies that you align your leverage ratio with needs on the one hand and always ascertain what you’re ready to risk on the other hand.

As regards trading within your limits, making up your mind that you’ll do so is never enough. In reality, you have to imbibe the right trading habits.

Avoiding “revenge” trading –“revenge” trading is what occurs when you feel you should trade outside the purview of your trading plan. Perhaps, you’re doing this in hopes of making profits that will make up for a previous unfavourable trade.

By “revenge” trading, you’re allowing emotions to play into your trade and this clearly belies the principle of moderate trading. You can be keen to recover the loss encountered in a previous unfavourable trade but you should do this little by little while still sticking to your usual trading plan that works great.

Conclusion

Reading this post must have opened your eyes to the basics of forex trading. At this juncture, it behoves you to believe that it might take you a long period of patience, persistence and moderate practice before you arrive at your desired level of success in forex trading.

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