Babcock University Lecturer Launches Africa’s First Statistical Software Package

Babcock University unveiled Africa’s first locally developed statistical software, the ValueStats Statistical Package (VSP), created by Prof. Enyi Patrick Enyi, which is set to save Nigeria around $1 billion annually by offering a more affordable and user-friendly alternative to foreign statistical software.

On Friday, Babcock University in Ilisan Remo unveiled the continent’s first locally developed statistical data analysis software called the ValueStats Statistical Package (VSP), created by Prof. Enyi Patrick Enyi, a Professor of Accounting and programmer at the university.

The Vice-Chancellor, Prof. Ademola Tayo, expressed immense pride in this groundbreaking achievement, calling it a monumental milestone for Africa. He shared these sentiments during the unveiling event, which also featured the launch of Prof. Enyi’s new book, Financial Modeling, at the Babcock Business School Auditorium.

Represented by former Deputy Vice-Chancellor Prof. Sunday Owolabi, Tayo highlighted that the domestically developed VSP software is projected to save Nigeria approximately $1 billion annually. He emphasized the unique features of the VSP, noting that it offers several modules not found in existing foreign packages from China, Japan, and India, and is significantly more affordable.

Tayo encouraged widespread adoption of the software among students and lecturers, suggesting they explore its functionalities further via YouTube and provide feedback for future improvements. He commended Prof. Enyi for his academic excellence and urged him to continue making impactful contributions to the world.

The President of the Institute of Chartered Accountants of Nigeria, Davidson Alaribe, represented by Prof. Godwin Oyedokun of Lead City University, praised Prof. Enyi for elevating the accounting profession and pledged the institute’s support for ongoing excellence and innovation in the field.

Prof. Enyi explained that the inspiration to develop VSP stemmed from the need for a statistical package tailored to the unique characteristics of Nigeria and Africa. Unlike existing software like SPSS, EV, and Stata, VSP is designed to be user-friendly with a menu-driven interface, allowing for easier use without coding expertise. Prof. Enyi noted that VSP automatically generates graphs post-analysis, unlike its foreign counterparts, and is priced at $40 compared to the average $280 for foreign software, resulting in significant cost savings for the country.

He concluded that this innovation demonstrates Africa’s potential to address its socio-economic challenges through genuine and concerted efforts.

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SOURCES: ALLSCHOOL, PUNCH