In spite of the acceptability and production of Uranium Oxides (UO2) with Low Uranium Enrichment (LEU-UO2) fuel in commercial scale, the use of uranium–silicide (U–Si) in place of the UO2 is one of the promising concepts being proposed to increase the accident tolerance of nuclear fuels. In this study, SCALE 6.2.3 computational tools have been used to model the Nigerian Research Reactor-1 (NIRR-1) which is a typical Miniature Neutron Source Reactor (MNSR) and calculated the core neutronic parameters such as Clean Core Cold Excess Reactivity (CCER), Control Rod Worth (CRW), Shutdown Margin (SDM), Safety Reactivity Factor (SRF) and Neutron flux distribution for the Highly Enriched Uranium (HEU) and candidates LEU cores. The results showed a close agreement between the calculated and measured data. The bias between calculated and measured data was attributed to the computational limitation of this study that was caused by a limited number of particles histories used in criticality calculations. The neutronic performance of the U3Si2–Al, U3Si–Al and U9Mo–Al fuels indicated the suitability of these candidates LEU fuels for conversion of MNSRs from HEU to LEU. The observed reduction in the thermal flux of the candidate LEU fuels was attributed to higher inventory of U-238 in LEU fuels when compared with the HEU and further underscore the need to raise their thermal power by approximately 10% for efficient utilization of the MNSR in Neutron Activation Analysis.