Cost Evaluation of Road Traffic Accident In Nigeria Using Human Capital Approach

Description

– Cost Evaluation of Road Traffic Accident In Nigeria Using Human Capital Approach –

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Abstract

Nigeria experiences the highest rate of road traffic accidents resulting in fatalities and various levels of injuries.

On Abuja-Lokoja road, traffic accident takes the lion’s share of the risk having highest number of vehicular accidents with corresponding fatalities and injuries which has a great impact on cost and the socio-economic development of the society.

It is therefore necessary to gauge the monetary value of these losses in order to highlight the extent of damage incurred to society as a whole.

This research is focused on using Gross-Output Model or Human Capital Approach to compute the cost of traffic accident on Abuja-Lokoja road. The aim of this research is to formulate a model that can be used for estimating the total cost of road accidents at all levels of severity.

The extent of injury levels, property damaged and general cost resulting from an accident using secondary data were obtained from the Polices, Research and Statistics department of the Federal Road Safety Corps (FRSC) for a period of eleven years (2000-2010).

The research was carried out with the aid of questionnaires and interview. The data collected were analyzed using the percentage frequency distribution table and the result was used to cost the property damage cost and the medical cost. The accident cost was decomposed and quantified based on the accident severity levels.

Introduction

1.1 Background of the Study

Accident can be defined as an unpleasant incident that happens unexpectedly; it can also be defined as an incident that happens by chance.

Road traffic accident is therefore an unexpected phenomenon that occurs as a result of the use or operation of vehicles, and trucks, on the highway, when a traffic accident occurs it may be fatal, resulting in deaths of road users (passenger, drivers, or pedestrians);

serious when there is no deaths but a person is seriously injured, and minor when it is not serious enough as to cause substantial hardship.

When there isno fatality, serious injury, minor or slight injury and only vehicular damage or property damage occurs, it is referred to as damage only accident. Most citizens use the road at one point in time or the other, and therefore face a risk of road accident.

Through road accidents, hundreds of productive citizens die every year. By these, many families have lost their bread winners, many wives have become widows and many husbands rendered widowers, countless number of children have become orphans many songs of victory and jubilations had been turned into morning and wailing overnight.

Many dreams are shattered; plans and aspirations are laid to rest in the graves all in name of road accident. In Nigeria today according to the Inspector General of Police’s Statement(Atta, 1990), there are more reported cases of death on the road through road accidents than there are cases of murder, suicide or death by any atrocious crimes.

Road traffic accidents may at first seem to be a relatively unimportant problem to developing countries, such as Nigeria, when compared with the more obviously acute problems of malnutrition, education, poorly developed infrastructures, terrorism, Niger Delta militant and thuggery.

However, an analysis of causes of death in a number of countries in the developing world, including Nigeria, showed that deaths caused by motor vehicle accidents ranked third behind those caused by diseases and natural death (Akoto and Wiredu, 1986).

World Health Organization (WHO, 2004) sources indicate that Nigeria leads eleven other countries in the world in terms of accident involvement and severity.

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