Everything you need to know about Lagos Business School

Lagos is the commercial hub of Nigeria, and right there in the centre of excellence is situated the Lagos Business School. I mean, where else should we have had such a prestigious school other than Lagos?

The Lagos Business School is one that many Nigerians who want to learn about modern business practices, management, leadership and strategies desire to attend. However, there is a dearth of information about the institution of higher learning, and a quick search on Google throws out many questions that people are asking about the school.

However, the answers to those questions are not always available. The aim of this post is, therefore, to provide you with all the necessary information you need to know about the Lagos Business School such as how to enrol, programmes offered, admission requirements, even down to their fees and scholarship information.

What is a Business School?

A business school is an educational institution at a university level whose specification is to train through teaching, courses and several programmes that relate to business or management or both.

At the end of a business course, degrees in business administration or management or both are conferred on the qualified individuals.

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Do I really need to attend a business school?

In simple terms, a business school will teach you how to manage your business.

The basic and detailed study of subjects such as administration, entrepreneurship, finance, economics and strategy is a core of business schools. Also, leadership, marketing, accounting and public relations are not left out.

A lot of managers of businesses attended and studied at business schools. On the other hand, some chief executive officers (CEOs) do not have a degree, not even O Level or A-level – just like Sir Richard Brandon, CEO Virgin Group who manages over 400 companies.

A key advantage of a business school

According to The Princeton Review, “Business schools take academic theories and apply them to real-world problems. They craft students into astute decision-makers and professionals who can readily navigate uncertainty, risk, and change.”

Lagos Business School is a business school that fits this description perfectly.

Follow along in this post and I will explain to you everything you need to know about the Lagos Business School.

About Lagos Business School

Lagos Business School (LBS) is owned by the board of trustees of Pan-Atlantic University Foundation. The institution is built on inspirations from the lessons of St Josemaria Escrivá, the founder of Opus Dei (a strong group within the Catholic Church).

LBS was founded in 1991 when it was incorporated. Its name was changed from Centre for Professional Communications (CPC) to Lagos Business School (LBS). It is one of the best schools in business and management programmes in the whole of Africa.

Lagos Business School is affiliated to the Pan-Atlantic University. Its main campus is in the Lekki area of Lagos State.

LBS is a member of the Association of African Business Schools (AABS), the Global Business School Network (GBSN), the Principles for Responsible Management Education (PRME) and AACSB International – Association to Advance Collegiate Schools of Business.

Programmes offered by the institution are academic and executive programmes. It also offers courses customised to suit certain company needs. Also, individuals can be openly enrolled in management courses. The courses offered in LBS are accredited worldwide.

Programmes (courses) offered by Lagos Business School

The programmes offered by LBS include MBA programme, Executive MBA programme, Modular Executive MBA programme, Executive Education Programme, Open Seminars and Custom Programmes.

1. Master of Business Administration (MBA) Programme – 2 years

The full-time MBA programme completion will require 15 months of in-class study and 72 credit hours of coursework or more

It is three semesters altogether; the first academic year has two semesters and one semester in the final year.

After nine months of academic work, then a 12-week project-based corporate internship is set up with different national and international organisations.

The last semester is an elective semester. Students can decide to take part in an international student exchange programme with some international partner schools or they can take electives within Nigeria.

Combining a full-time job with the full-time MBA programme us tough. The programme runs Mondays through Fridays.

2. Executive Master of Business Administration (EMBA) – 2 years

This is a part-time study for managers who wish to, together with learning, put to an immediate application what they are learning in and around the work environment.

The programme is spread over two sessions within a 24-month duration, the EMBA runs for six 14-weeks semesters. Each session starts in January and ends in December. The classes are held on Fridays and Saturdays.

Additionally, once every semester, a five-day intensive week is held. That week, the classes run from Monday to Friday. Saturdays are left out during an intensive week.

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3. Modular Executive Master of Business Administration (MEMBA) – 2 years

The Modular Executive MBA programme is a much more flexible part-time programme. Busy professionals who want a high-quality education in management that is flexible fit straight into his programme design.

The focus of the MEMBA programme is local and international professionals. It is set up in a way that allows students to remain in their job as they study to earn an MBA degree.

The structure is a blend of online and on-campus learning. The participants of the MEMBA programme are to come to Lagos Business School Campus every two months for a one-week intensive class.

4. Executive Programmes (Leadership and General Management Education)

The executive programmes are short term programs set up to suit a range of managers.

Senior Management Programme

This is set up to aid senior executives to build personal skills, helping them make a significant contribution to their organisations.

Duration: 5 months (5 days per month)

Fee:
N2,950,000 (Abuja)
N2,932,500 (Lagos)

Advanced Management Programme

The focus of the Advanced Management Programme (AMP) is to refine core management and leadership skills needed to function in large organisations.

Duration: 4 months

Fee: N5,740,000

AgriBusiness Management Programme

Stakeholders and managers in the agriculture and agribusiness sector who need practical skills and solutions to challenges in their organisations/businesses.

Duration: 5 months

Fee:
N1,210,000 (Lagos)
N1,320,000 (Abuja)

Management Acceleration Programme

This programme is designed to improve emerging leaders’ readiness in performance, move forward in their careers quickly and accelerate their impact on their organisations.

Duration: 2 months (5 days per month)

Fee: N1,095,000

Owner Management Programme

The Owner-Manager Programme (OMP) is set up for owners/managing directors of SMEs.

Duration: 6 months (5 days per month)

Fee: N2,900,000

Global Chief Executive Programme

This programme, Global CEO Program – Africa, is set up to develop leaders.

Duration: 5 months

Fee: $28,000

Sales Academy

The LBS Sales Academy is created to offer sales professionals with imperative tools needed to excel in today’s highly competitive and dynamic market.

Duration: 3 months

Fee N1,800,000

HR Academy (Intermediate)

This is designed for mid-level HR managers of large and multinational organisations.

Duration: 3 months

Fee N1,800,000

5. Open Seminars

The LBS also offers participants a chance to learn and be equipped with business and management skills from highly skilled and renowned professionals through their open seminars in:

1. General Management
2. Accounting, Finance and Economics
3. Operations and Management Information
4. Marketing and Sales Management
5. Strategy, Innovation and Governance
6. Personal Leadership and Human Resources Management and,
7.  Sector Specific Seminars

6. Custom Programmes (Custom Executive Education)

Lagos Business School provides custom educational solutions to address each participant’s unique business challenges.

It may be that you need intensive development for a small group or desire to enact change across a larger group. Depending on your specific needs, LBS will pick a set of their renowned faculty to tailor lectures, classroom experiences and case studies to suit you.

Lagos Business School Academic Areas & Departments

The academic areas and departments of the LBS cover every area of business, administration and management. These include:

1. Accounting, Economics & Finance
2. Strategy & Entrepreneurship
3. Social and Political Environment of Business & Business Law
4. Operations, Marketing, Information Systems
5. Organisational Behavior
6. Management Communication
7. Negotiation and HRM
8. General (Business Ethics and Decision Analysis)

Admission requirements/How to enrol into the Lagos Business School

For you to be considered for admission into LBS, there are certain requirements you must meet. All the requirements are strict and compulsory for consideration for admission, and include the following:

1. You must have five credit passes including English and Mathematics at the Ordinary Level (O level) for English-speaking applicants.
2. You must have a minimum of a second-class lower university degree from a recognised university.
3. You must possess a minimum of three year’s post-qualification work experience. This means you must have worked for at least three years after obtaining your degree.
4. You must have passed a competitive National Medical Admission Test (NMAT), Essential Skills Assessment (ESA), Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) score. The cost of NMAT is $75, GMAT is $250 and GRE is $205.

However, due to the Covid-19 pandemic, the LBS directs applicants to write the Essential Skills Assessment, ESA, by GMAC.

The Essential Skills Assessment is a 50-minute exam taken “unprepared.” It is designed to test how ready one is for a graduate management education program.

The standard fee for ESA tests for all students applying to business schools worldwide is $129. For Lagos Business School, special pricing of $55 only, for applicants is on offer for a limited time. A discount of $74 has been procured for those applying only to LBS.

5. You will be accessed in an interview where you must demonstrate intellectualism, professionalism, and maturity. The test on your ability to make decisions and solve problems must be effective.

Documents required for admission into the Lagos Business School

As part of the registration and admission process, some documents have to be submitted to support your admission application. They include:

1. A completed online application form.

Step 1: Visit https://www.lbs.edu.ng/

Step 2: Click the “Admissions” tab to read up all information needed and find out if there are any updates

Step 3: Click “Apply”

Step 4: Click “Login here” if you are already registered or “Click here” if you want to Apply for a Programme if you are new.

Step 5: You will need to submit the following documents

• Fill up the MBA eligibility check form and proceed
• Three reference forms to be completed within the online application by your referees.
• Copies of O’level and university degree certificates (statements of results are acceptable)
• Official transcripts sent after you have been admitted (these may be sent directly by your former school)
• Your curriculum vitae
• A copy of your NYSC Certificate or Letter of Exemption (for Nigerians only)
• English language proficiency test (TOEFL or IELTS) for non-native English speakers is strongly advised.
• A passport photograph

How much is the tuition (school) fees for Lagos Business School?

First of all, the application fee is NGN5,000.

For Local Students:

1. The programme tuition for this year is NGN3,481,119 per session
2. LBS runs two sessions
3. Fees cover tuition and course materials
4. Fees can be paid in three instalments at the beginning of each semester.

For International Students

1. The tuition for international students for the year is NGN3,481,119 per session
2. Lagos Business School runs two sessions.
3. LBS offers a minimum of 10 % tuition scholarships to international students.

Note: The tuition fee may be reviewed without prior notice. It can also be paid in six instalments.

The instalment payments date period are:

1. 1st Instalment June
2. 2nd Instalment November
3. 3rd Instalment February
4. 4th Instalment May
5. 5th Instalment September
6. 6th Instalment January

The fees cover tuition and course materials.

Note: The school does not provide accommodation, but can assist you with information on how to find suitable housing around the school.

Usually, students share flats with other students at a rate of NGN200,000 – NGN550,000 per person/year. Monthly expenses after paying the rent could be from NGN30,000 minimum.

Dates and deadlines of application

The dates and deadlines of registration are subject to change per year. For this year 2020, it goes thus:

1. 1st Round: 30 April 2020
2. 2nd Round: 31 July 2020
3. 3rd Round: 31 September 2020
4. 4th Round: 5 October 2020
5. 5th Round: 4 November 2020

Supplementary Round: Deadline 27 November 2020

When do the LBS programmes begin?

The Lagos Business School programmes kick off in January 2021.

When is the EST/NMAT/GMAT/GRE score submission deadline?

The submission deadline dates are the same as the application deadline dates.

Are there any other centres of study?

No. There are no other centres of study aside from the one in the school campus.

Can I enrol with my O level or A-level?

Your O level or A-level is only one of the requirements for enrollment. You cannot be admitted into the Lagos Business School with only your O level or A-level. Since it offers masters degrees at the end of its courses, it means that just your O level or A-level will not suffice for enrollment.

How long does the program in Lagos Business School Run?

The MBA, EMBA and MEMBA programmes all run for 24 months, while the Executive Education Programmes are between two and six months.

What degree or certification is awarded at the end of the Lagos Business School Program?

Degrees awarded include:

1. Master of Business Administration (MBA)
2.  Executive Master of Business Administration (EMBA)

Note: Certificates are dependent on the Executive Education Programmes you take part in.

Is the certification acceptable worldwide?

Yes. The Lagos Business Schools offerings have been accredited globally. Also, the LBS offerings are ranked among the top in the African continent.

It was the first institution in West Africa to be accredited by the Association to Advance Collegiate Schools of Business (AACSB) from 1 December 2016, joining the group of less than 5% of business schools worldwide, to be accredited by this organisation.

Also, the MBA programmes offered by the School were accredited by the International Accreditation Advisory Board of the Association of MBAs (AMBA).

AMBA is the highest standard of achievement in postgraduate business education (MBA, DBA and Masters programs) and only the best programmes can earn this.

LBS is an elite member of only two per cent of top-ranking business institutions in seventy nations with AMBA accreditation. There are only nine institutions in Africa that have been given this accreditation. South Africa hosts six of them, while Morocco, Egypt and Tunisia have one each.

LBS was the first school in West, East and Central Africa regions to achieve this accreditation.

Can the program be paused due to uncontrollable circumstances?

There is no rubber-stamp acceptance or refusal to this.

It is worthy of note, however, that the LBS allows acceptance to be deferred for up to 4 years. After you must have met deferral conditions, it will be granted for not more than a period of four years and is considered on a case-by-case basis.

This, we assume, may also be the case with regard to pausing a programme due to uncontrollable or unforeseen circumstances.

How do I qualify for a scholarship?

Each year, the Lagos Business School gives out several scholarships to stand-out students who evidently are in need, financially.

First of all, to qualify for the scholarship, you must have applied for and given admission into the MBA programme.

Next, you must submit a filled scholarship application form to the MBA Admissions Office within the first week of getting an admission letter.

Following this, the scholarship committee meets within the second week of admission letters being sent out. Those who have been awarded scholarships are contacted by the end of that same week.

The tuition for the MBA programme is what is covered by the scholarship. However, other personal expenses such as housing and feeding will be your responsibility to take care of if you are awarded the scholarship.

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Conclusion

Lagos Business School is among the most prestigious in Africa and is also well respected in the world. That is why many people want to study within its walls.

I hope that the article has answered most of the questions you might have had about the institution. If not, let me know in the comment section

Also, in case you have more information about the Lagos Business School that wasn’t mentioned, feel free to write them in the comment section as well.

Finally, the post is for information purposes only and does not constitute endorsement or recommendation. Use your discretion at all times.