A challenging problem in some developing countries such as Nigeria is inadequate training of students in effective problem solving using the core concepts of their disciplines. Related to this is a disconnection between their learning and socio-economic development agenda of a country. These problems are more vivid in statistical education which is dominated by textbook examples and unbalanced assessment "for" and "of" learning within traditional curricula. The problems impede the achievement of socio-economic development objectives such as those stated in the Nigerian Vision 2020 blueprint and United Nations Millennium Development Goals. They also impoverish the ability of (statistics) graduates to creatively use their knowledge in relevant business and industry sectors, thereby exacerbating mass graduate unemployment in Nigeria and similar developing countries. This article uses a case study in statistical modelling to discuss the nature of innovations in statistics education vital to producing new kinds of graduates who can link their learning to national economic development goals, create wealth and alleviate poverty through (self) employment. Wider implications of the innovations for repositioning mathematical sciences education globally are explored in this article. (Contains 1 figure.)