Full Project – COST EVALUATION OF ROAD TRAFFIC ACCIDENT IN NIGERIA USING HUMAN CAPITAL APPROACH

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CHAPTER ONE

INTRODUCTION

 BACKGROUND OF STUDY

An unpalatable incident that occurs uncertainly or unexpectedly is referred as Accident.; it can be characterized as an occurrence that happens by some coincidence. Road traffic accident is hence is an unforeseen marvel that happens due to the utilization of vehicles, and trucks, on the highway, when a traffic accident happens it could be lethal, bringing about deaths (passenger, drivers, or pedestrians); Such accident as results to seriously injuries, and minor once when it is not serious enough as to cause substantial hardship. When there is no severity, fatal injury, minor or slight injury and just vehicular destruction or property damage happens, it is alluded to as damage only accident.

Most people utilizes the road at different intervals hence are prone to the risk and dangers of road accident. road accident can result to the death of large number of relevant and productive individuals yearly. By these, many families have lost their bread winners, many married persons have become widowed, numerous children have become orphans. career plans, expectations, aspiration and so many more rooted and thus destroyed due to road accidents.

1.2 STATEMENT OF PROBLEM

One major problem facing the Nigerian road is rapid deterioration due to construction of far below quality of engineering standards required (CBN, 2000). Also, the rates of accidents causing loss of lives and damages to roads have increased. In fact now, the major roads in Nigeria are in a great state of disrepair. Between 1991 and 1995, the economic cost of road accidents in Nigeria was estimated at about N44 billion or ($554million) (Arosanyin, 2001).

According to Ogunsanya (2006) Nigeria has a total of 193,200 km of roads, made up of 34,123 km of federal roads, 30,500 km of state roads and 129,577 km of local government roads. He further added that in many parts of the country, the roads are in a very deplorable condition having been neglected over the years.

In a CBN report (2000), about 23 percent of national roads were in bad shape since 1985 and that rose to 50percent in 2001. The report further explains that a road study undertaken in 1998 indicated that N300 billion would be required over the next ten (10) years to bring the national road network into a fairly good condition. After the recovery, an average of N24 billion would be required each year for subsequent maintenance and N32 billion per year for road rehabilitation. Further neglect of these roads implies a loss of network value of N80 billion per year and an additional operating cost of N53 billion per year. But, except these roads and bridges are kept in good condition, they cannot support the desired social and economic development of the country.

1.3 PURPOSE OF THE STUDY

This study tends to evaluate the cost implication of road traffic accident in Nigeria using human capital approach. Other specific objectives include;

1. Examine the effect of road traffic accident on Nigeria Economy

2. To identify the major and minor causes of road accident.

3. To examine the socio-economic consequences of road traffic accident in Nigeria.

4. Portray the strategies at minimizing road traffic accidents.

1.4     RESEARCH QUESTION

1. What is the form or extent of road traffic accident that occurs in Abuja-Lokoja road?

2. what are the possible causes of such accident?

3. Does the occurrence of such accident has a socioeconomic impact on the individuals involved?

4. Has there been a reduction in the rate of accident from 2000-2010 in Abuja-Lokoja road?

1.5 SIGNIFICANCE OF THE STUDY

This study will be of immense importance to the ministry of transportation on getting to be apprised on the cost implication and strategies for reducing the occurrence of road traffic accident. More-also  this study will as a relevant material for road transport operator is making some certain critical decision. However other personalities such as researchers, students and the general public will away find this study relevant in making reference of cost incurred in road traffic accident and will use this study to satisfy other personal or  academic needs.

1.6  SCOPE OF THE STUDY

This study evaluates road traffic accident effect on properties and economy of Nigeria using Abuja-Lokoja road as case study.

1.7 DEFINITION OF TERMS

Accident: an unfortunate incident that happens unexpectedly and unintentionally, typically resulting in damage or injury.

Traffic: is the number of vehicles moving along roads, or the amount of aircraft, trains, or ships moving along a route

Cost:a cost is the value of money or monetary equivalent of something.

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Full Project – COST EVALUATION OF ROAD TRAFFIC ACCIDENT IN NIGERIA USING HUMAN CAPITAL APPROACH