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Educationists wants actuarial science in universities

Nigerian Universities Commission

Participants at a meeting on manpower development for universities and the pension industry have called for advanced teaching of actuarial science (Study of Insurance) in Nigerian universities.

Speaking at the stakeholders’ meeting in Abuja, some of the academics said the current pension structure required development of relevant programmes for effective manpower for the scheme.

They said with just a law backing the pension scheme, without adequate manpower, the average Nigerian worker faced a bleak future in retirement.

The Dean, Faculty of Administration, Ahmadu Bello University (ABU) Zaria, Kaduna State, Dr. Siraj Abdulkarim, said though the Pension Reform Act had put in place a solid legislation to take care of pensioners, adequate manpower was required to back that law.

Abdulkarim said the required manpower could only be deployed through the development of appropriate courses in the universities.

He called for expansion of the departments of actuarial science, and establishment in other universities.

According to him, there is an urgent need for development of the programme, which scope had not been expanded beyond two Nigerian universities – ABU and University of Lagos – for lack of lecturers in the course.

According to him, in ABU, there is a dearth of lecturers at the senior and professorial level, a situation that has led to its under-development.

He said though the university had received international and national support as regards the programme, a lot needed to be done to develop such courses, if effective and adequate manpower were to be deployed to manage the pension sector.

Prof. Abdulrasheed Ojikutu, the Dean, Faculty of Business Administration, University of Lagos, also advocated manpower development as a means of fortifying the current pension scheme.

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