LICO observe three terms to make up a full academic session. They include the First, Second and Third Terms in that order.

The first term begins in September and runs through the early weeks of December. The second term commences in January and ends at the end of March or early April. The third term is observed between late April / early May and late July of every year. The State and Federal Ministries of Education are responsible for the release of the school calendar for the yearly academic session.