A Professor of Financial Mathematics, Obi-Nnamdi Agwuegbo, has blamed Nigeria’s protracted economic challenges on the failure of successive governments to embrace statistical reasoning in policy formulation and national planning.
Agwuegbo, who delivered the 102nd Inaugural Lecture of the Federal University of Agriculture, Abeokuta (FUNAAB) on Wednesday, maintained that without data-driven strategies, the nation’s developmental aspirations would remain a mirage.
The lecture, themed “Statistical Reasoning: A Panacea for National Development”, was held at the Prof. Oluwafemi Balogun Ceremonial Building on campus.
According to Agwuegbo, who is a professor of Stochastic Modelling in the Department of Statistics, College of Physical Sciences (COLPHYS), Nigeria’s analogue approach to governance continues to hinder growth, innovation, and meaningful policy impact.
“It would be day-dreaming to expect Nigeria to realise its full potential without the application of statistical methods,” he said.
The professor described statistical reasoning as the bedrock of sound decision-making, stressing its power to convert raw data into actionable insights capable of shaping effective policies and transforming national sectors.
“No field of research can claim scientific credibility without statistical tools,” he noted. “From healthcare diagnostics to manufacturing quality control, statistical methods drive reliability and efficiency.”
Agwuegbo advocated the compulsory integration of statistical reasoning into all postgraduate programmes in Nigerian universities.
He also called for the establishment of robust, accessible national data platforms to enhance research and innovation.
“Without statistical interpretation, data is just an unintelligible array of numbers. It is only through statistical reasoning that data becomes meaningful, guiding informed decisions and evidence-based conclusions,” he explained.
He further urged institutions of learning to incorporate statistical literacy into their curricula to cultivate critical thinking and equip students with data engagement skills.
Speaking at the event, FUNAAB Vice-Chancellor, Prof. Babatunde Kehinde, represented by Deputy Vice-Chancellor (Academic), Prof. Olukayode Akinyemi, commended Agwuegbo for what he described as an “insightful and thought-provoking” lecture.
Kehinde praised Agwuegbo’s academic contributions, including his work as an external examiner at the University of Ibadan and the University of Lagos, and his membership in several professional bodies such as the Nigerian Statistical Association (NSA), American Statistical Association (ASA), International Biometric Society (IBS), and the Professional Statisticians Society of Nigeria (PSSN).
The scholar has authored more than 40 articles in reputable local and international journals.
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