A Professor of Statistics at the Federal University of Technology Akure (FUTA), Professor Abayomi Akomolafe, has said that the intentional application of modern statistical techniques, predictive analysis and probability modelling can help Nigeria address growing challenges in healthcare, banking, the economy and public service delivery.
Akomolafe stated this while delivering the institution’s 198th inaugural lecture titled “Clay in the Hand of the Potter: The Mystery of Probability Modelling in Statistics,” held on Tuesday at the Obafemi Awolowo Auditorium of the university.
The professor noted that many of Nigeria’s persistent challenges, including disease outbreaks, inflation, unstable markets, poor economic planning and inefficiencies in banking services, could be reduced through data-driven decision-making and scientific forecasting.
Using the COVID-19 pandemic as an example, he explained that statistical regression models helped health authorities understand infection patterns and predict the spread of the disease over time.
According to him, predictive analysis can improve disease surveillance, strengthen contact tracing, enhance healthcare preparedness and support emergency response systems before outbreaks escalate into national crises.
He added that statistical modelling could also assist hospitals and government agencies in allocating medical resources efficiently, identifying high-risk populations and developing effective intervention strategies during public health emergencies.
Speaking on the economy, Akomolafe stressed that evidence-based statistical forecasting remains essential for improving fiscal policies, stabilising exchange rates, controlling inflation and supporting sustainable economic growth.
He explained that accurate statistical data enables policymakers to better understand economic trends, consumer behaviour and market fluctuations, thereby improving national planning and resource management.
The professor further stated that statistical analysis could help businesses and industries make informed investment decisions, improve productivity and strengthen consumer confidence within Nigeria’s consumer-driven economy.
Addressing challenges within the banking sector, Akomolafe identified delays in service delivery, poor queue management and operational inefficiencies as major concerns affecting customer satisfaction.
He recommended the adoption of statistical models to improve customer flow management, optimise staffing during peak periods and enhance the maintenance and performance of banking facilities.
According to him, the use of statistical forecasting and operational analysis in banks would reduce waiting time, improve service efficiency and strengthen customer relations across financial institutions.
Akomolafe also highlighted the importance of advanced probability models in understanding consumer buying patterns, software market behaviour and monopoly-related issues within the technology industry.
He said businesses and policymakers could deploy data analysis to improve branding strategies, market planning and economic competitiveness.
The statistician stressed that modern societies could no longer rely solely on assumptions and traditional planning methods, noting that scientific innovation, predictive modelling and evidence-based governance remain critical to sustainable national development.
He therefore called for increased investment in statistical research, technological innovation and collaboration among universities, industries, financial institutions and government agencies to strengthen Nigeria’s healthcare system, economy and public institutions.
In her remarks, the Vice Chancellor of the university, Professor Adenike Oladiji, represented by the Deputy Vice Chancellor (Development), Professor Sunday Oluyamo, commended Akomolafe for delivering what she described as an insightful lecture on the importance of statistics, innovation and research in addressing national challenges and promoting sustainable development.
