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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.
CHAPTER ONE -- [Total Page(s) 2]
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