Nigeria loses $6bn to road accidents yearly – Research

Written by The Punch Saturday, 31 July 2010

Nigeria loses $6.2bn yearly to road accidents, a research has shown. The amount translates to about three per cent of the nation’s Gross Domestic Product.

A statement obtained by Saturday Punch on Thursday indicated that the figure was released by the Chief Executive Officer and Corps Marshal, Federal Road Safety Commission, Mr. Osita Chidoka.

The statement quoted Chidoka to have spoken during a capacity building workshop for unit commanders of the commission in Abuja on Thursday, saying that the losses also amounted to about 17 per cent of Nigeria‘s current foreign reserves.

Expressing concern over the findings, he said there was an urgent need to confront the challenge so as to reduce the losses.

He noted that the human and material losses brought about by road crashes remained a key avenue through which the country‘s finances and economic resources were being drained.

Chidoka regretted that many people who died in road crashes were men in their active years between the ages 25 and 45.

”There are a lot of social problems arising from road crashes, including economic and health issues. The number of people in hospitals having broken legs and arms from road crashes are major losses in our public finances,” he said.

He, however, said that Nigeria could be one of of the 20 countries with safest road networks in the world in 20:2020, with improved condition of the roads and enhanced performance by vehicle inspection officers, among others.