A Financial Mathematics Expert, Prof Obi-Nnamdi Agwuegbo has asserted that Nigeria cannot attain full potentials without statistical reasoning tracing the economic predicaments the country is facing to non-application of statistical tools.
Prof Agwuegbo, a University Don said given government’s analogue approach to development issues, it would amount to day-dreaming to expect Nigeria’s full potentials to be realized without application of statistical methods.
He spoke while delivering the 102nd Inaugural Lecture of the Federal University of Agriculture, Abeokuta(FUNAAB) titled “Statistical Reasoning: A Panacea for National Development” on Wednesday.
The Inaugural event took place at the Prof Oluwafemi Balogun Ceremonial Hall on campus.
The renowned professor of Stochastic modelling from the Department of Statistics, College of Physical Sciences (COLPHYS), underscored the critical role of statistical reasoning in driving national development and realising Nigeria’s full potential.
Prof Agwuegbo described statistical reasoning as a cornerstone for effective decision-making, enabling the transformation of raw data into actionable insights that can shape policies, drive innovation, and foster progress across sectors.
The erudite Professor was of the firm conviction that no field of research can attain scientific credibility without the application of statistical methods.
To him, statistical reasoning remained central to achieving reliability and efficiency, ranging from diagnosing diseases in healthcare to ensuring quality control in manufacturing.
He stated: “Without statistical interpretation, data is merely an unintelligible array of numbers. It is only through statistical reasoning that data becomes meaningful, guiding informed decisions and evidence-based conclusions.”
To enhance the impact of statistical thinking, the Inaugural Lecturer recommended the integration of statistical reasoning into all postgraduate programmes in the University.
He also canvassed the establishment of robust national data platforms capable of providing accessible, reliable datasets to support research, innovation, and development.
Agwuegbo, in addition, urged the universities and other institutions of learning to embed statistical literacy into their respective academic framework, stressing that such initiative would cultivate critical thinking and empower students to engage with data in meaningful and transformative ways.
FUNAAB Vice-Chancellor, Prof. Babatunde Kehinde commended Prof. Agwuegbo for delivering an insightful and thought-provoking lecture.
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Represented by the Deputy Vice-Chancellor (Academic), Prof. Olukayode Akinyemi, the University’s helmsman appreciated the Lecturer’s remarkable academic contributions, including his role as an external examiner at the University of Ibadan and the University of Lagos.
He noted that Prof. Agwuegbo, 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), has published over 40 scholarly articles in reputable local and international journals.