Renowned financial mathematics expert, Professor Uche Agwuegbo, has attributed Nigeria’s persistent economic challenges to the country’s failure to apply statistical reasoning and data-driven decision-making in governance and policy formulation.
Speaking at a public lecture hosted by the Nigerian Statistical Association in Abuja on Monday, Prof. Agwuegbo lamented what he described as a “chronic neglect of evidence-based planning,” arguing that the country’s development strategy has long been driven by guesswork rather than sound mathematical and statistical models.
“A nation that ignores data invites dysfunction,” Agwuegbo said. “Nigeria’s budget planning, inflation control, revenue forecasting, and even security response mechanisms often lack the rigorous statistical frameworks required to ensure precision and impact.”
He cited examples from advanced economies where statistical reasoning is central to public policy, economic forecasting, and resource management. In contrast, he said, Nigerian leaders often make critical decisions without adequate modeling, simulations, or long-term statistical projections, leading to policy missteps and economic instability.
Professor Agwuegbo also pointed to inconsistencies in population data, unemployment figures, and fiscal reporting, warning that unreliable statistics create a ripple effect that undermines national development goals and investor confidence.
He called for the strengthening of institutions like the National Bureau of Statistics (NBS) and urged universities to integrate more applied mathematics and statistical training into their curricula to produce leaders capable of evidence-based governance.
“We have the intellectual capacity. What we lack is the political will to let data drive our national priorities,” he added.
His remarks have sparked a renewed conversation among academics, economists, and policy analysts, many of whom echoed his concerns and urged the government to institutionalize statistical literacy across all sectors.
The lecture concluded with a call for a national data reform initiative, bringing together statisticians, policymakers, and the private sector to build a more data-driven and accountable governance culture.
source: independent.ng
