Financial mathematics expert Prof. Obi-Nnamdi Agwuegbo has suggested that Nigeria’s current economic situation can be linked to the failure of previous governments to use statistical reasoning to inform national development policies.
According to Prof. Agwuegbo, a University Don, expecting Nigeria’s full potential to be realized without the use of statistical methods would be unrealistic given the government’s analogue approach to development difficulties.
He made these remarks during his 102nd inaugural lecture on “Statistical Reasoning: A Panacea for National Development” at the Federal University of Agriculture, Abeokuta (FUNAAB) on Wednesday.
At the campus’ Prof. Oluwafemi Balogun Ceremonial Hall, the inaugural event was held.
According to the esteemed professor of stochastic modeling from the College of Physical Sciences’ (COLPHYS) Department of Statistics, statistical reasoning is essential to advancing national development and achieving Nigeria’s full potential.
In order to translate raw data into actionable insights that can influence policy, spur innovation, and promote advancement across sectors, Prof. Agwuegbo explained that statistical reasoning is essential to effective decision-making.
No field of study can achieve scientific credibility without the use of statistical methods, according to the learned professor.
From providing quality control in manufacturing to identifying illnesses in healthcare, statistical reasoning, in his opinion, is essential to attaining dependability and efficiency.
Without statistical interpretation, data is just a collection of incomprehensible numbers, he said. Data only becomes useful when statistical reasoning is applied, resulting in evidence-based conclusions and well-informed judgments.
In order to increase the influence of statistical reasoning, the first lecturer suggested that statistical reasoning be incorporated into all postgraduate courses offered by the university.
He also advocated for the creation of strong national data platforms that can offer trustworthy, easily accessible datasets to aid in research, development, and innovation.
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In addition, Agwuegbo advised academic institutions to incorporate statistical literacy into their curricula, emphasizing that doing so would foster critical thinking and enable students to interact with data in ways that are both transformative and meaningful.
Prof. Babatunde Kehinde, Vice-Chancellor of FUNAAB, praised Prof. Agwuegbo for his thought-provoking and perceptive lecture.
In the presence of Prof. Olukayode Akinyemi, Deputy Vice-Chancellor (Academic), the University’s helmsman expressed gratitude for the Lecturer’s outstanding academic accomplishments, which included his work as an external examiner at the Universities of Ibadan and Lagos.
As a member of the Nigerian Statistical Association (NSA), International Biometric Society (IBS), American Statistical Association (ASA), and Professional Statisticians Society of Nigeria (PSSN), among other professional associations, he pointed out that Prof. Agwuegbo has authored more than 40 academic papers in respectable national and international journals.
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