From Laide Raheem, Abeokuta
A Professor of Accounting at the Babcock University, Ilisan-Remo, Ogun State, Enyi Patrick Enyi, has disclosed that the indigenous accounting and statistical software package he developed will save Nigeria $1bn used to buy and renew similar software packages developed overseas.
Enyi, who disclosed this at the official launch and unveiling of the software package, ValueStats Statiscal Package (VSP) and a book, Financial Modeling, also authored by him, at the Babcock University Business School Auditorium, said the Africa’s statistical data analysis software was purposely created to suit the peculiarities of Nigeria environment and Africa.
The don pointed out that the breakthrough has signified that with genuine and concerted efforts, Africans have what it takes to solve their socio-economic challenges.
“This is the first time an African is producing a statistical package. Those we were using before like SPSS are from America, EV from India, Stata too from India, we have R among others but none ever developed in Africa.
“And we are doing this to make a difference, as an academic, I have always been researching and most of my research is African based but many times some of these foreign packages won’t give me the result that I want. So, I began to think of those statistical packages that will take our peculiarities into consideration
“In those other packages you have to learn how to code them to use them, but this is our own VSP has been made to be user-friendly. We have made it menu-driven such that the menu can suggest what you want to do and you pick it up and do whatever you want to do
“For instance, after doing your analysis in the VSP, it will automatically produce your graphs for you but in others such as SPSS, EV or Stata, you will have to select the graph that you want.
“It took me two years to get the software developed. And talking about cost, an average SPSS which I was using before coming up with this innovation cost me about $280 then which must be renewed annually. But this one is $40 which is about N60,000 and you will continue to use this until we develop another version.
“We shall be saving our country millions of dollars with this newly developed statistical package”. Enyi stated.
Earlier in his remarks, the Vice-Chancellor of the institution, Prof Ademola Tayo, described the unveiling of this first ever African produced statistical package as a great moment of pride and monumental accomplishment for the continent.
Represented by a former Deputy Vice-Chancellor of the institution, Prof Sunday Owolabi, the VC said,
“This is no doubt an historical event, a great moment of pride for Africans because this kind of product is the first on this continent.
“The VSP statistical package is special and peculiar in its own way. All the ones we have been using before Prof Enyi Patrick Enyi came up with this innovation are imported from China, Japan, India among others, but this VSP statistical package is produced in Nigeria and it is far better.
“There are several modules that this statistical package contains which are not in those foreign ones.
“And by using this accounting statistical package invented by this great scholar, it will save Nigerians at least $1b because the users will be buying these packages in naira which is an equivalent of $40 and so it will help ease a lot of pressure on our forex.
The Vice-Chancellor, however, described Prof Enyi as a brilliant scholar and teacher of repute, urging him to remain steadfast in his chosen path of impacting the world for good.
Also speaking, the President of Institute of Chartered Accountants of Nigeria, Davidson Alaribe, who was the Special Guest of Honour at the event, lauded Prof Enyi for registering the Institute and the accounting profession on yet another global map of excellence and innovation.
Alaribe represented by Prof Godwin Oyedokun of Lead City University, Ibadan, Oyo State, hailed Enyi for his academic prowess and achievement, saying that the ICAN will not only support but also continue to partner with those promoting excellence in the accounting profession.
