According to Prof. Obi-Nnamdi Agwuegbo, a Financial Mathematics expert, Nigeria’s current economic situation can be linked to the failure of the country’s successive administrations to use statistical reasoning to inform decisions pertaining to national development.
Given the government’s analogue approach to development challenges, Prof. Agwuegbo of the University of Don stated that expecting Nigeria to reach its full potential without the use of statistical approaches would be unrealistic.
“Statistical Reasoning: A Panacea for National Development” was the theme of his 102nd Inaugural Lecture at the Federal University of Agriculture, Abeokuta (FUNAAB) on Wednesday.
On campus, the Prof. Oluwafemi Balogun Ceremonial Hall hosted the inaugural celebration.
The esteemed professor of stochastic modeling from the College of Physical Sciences’ (COLPHYS) Department of Statistics emphasized the vital role that statistical reasoning plays in propelling national progress and achieving Nigeria’s full potential.
The foundation of sound decision-making, according to Prof. Agwuegbo, is statistical reasoning, which turns unprocessed data into insights that can influence laws, spur innovation, and advance many industries.
Without the use of statistical techniques, the learned Professor was adamant that no field of study could achieve scientific legitimacy.
From identifying illnesses in healthcare to guaranteeing quality control in manufacturing, statistical reasoning, in his opinion, is still essential to attaining dependability and efficiency.
“Without statistical interpretation, data is just an incomprehensible collection of numbers,” he said. Only statistical reasoning gives data meaning, enabling well-informed choices and conclusions supported by evidence.
The first lecturer advocated for the inclusion of statistical reasoning in all postgraduate courses offered by the university in order to increase the influence of statistical thinking.
The creation of strong national data platforms that can offer easily available and trustworthy datasets to aid in research, innovation, and development was another issue he advocated for.
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Additionally, Agwuegbo advised academic institutions, including colleges, to incorporate statistical literacy into their curricula. He emphasized that doing so would foster critical thinking skills and enable students to interact with data in ways that are both relevant and transformative.
Prof. Agwuegbo was lauded by FUNAAB Vice-Chancellor Prof. Babatunde Kehinde for his thought-provoking and perceptive speech.
The helmsman of the university, represented by Prof. Olukayode Akinyemi, Deputy Vice-Chancellor (Academic), praised the lecturer’s outstanding academic accomplishments, including his work as an external examiner at the Universities of Ibadan and Lagos.
“Prof. Agwuegbo has published over 40 scholarly articles in reputable local and international journals,” he said. “He is a member of several professional bodies, including the Nigerian Statistical Association (NSA), International Biometric Society (IBS), American Statistical Association (ASA), and Professional Statisticians Society of Nigeria (PSSN).”
