Data from the National Bureau of Statistics (NBS) shows that 2,080 road accidents occurred in the second quarter of 2020.ยน Accounting for 47 percent of crashes, speed violation was reported to be the leading cause of crashes, followed by wrongful overtaking which accounted for 10 percent. A total of 855 lives were lost in road crashes with 5,535 people injured during the period. In both cases of injury and death, adults formed the majority amounting to 93 percent and 92 percent respectively. According to the report, men were approximately 4 times more likely to be a victim of road accident than women. The leading number of road accident cases occurred in the following states: Kaduna (177), Ogun (170), FCT (165), and Oyo (138). While the Federal Road Safety Corp (FRSC) penalizes traffic violations, it is imperative to display speed limits, sensitize the public on penalties/fines, and implement an automobile speed violation detection system across the country, particularly in urban areas. This will curb accidents as a result of over speeding and also increase the revenue accruing the government through payment of penalties/fines.
November 6, 2020
Nigeria Economic Update (Issue 40)
Related
Nigeria Economic Update (Issue 4)
The Naira/Dollar exchange rate remained
unchanged at ?199/$
in the official market but depreciated from ?263/$ to $267 at the Bureau De Change (BDC)
market segment this week. As the naira depreciates, the CBN forex
restriction measures continue to widen the gap between the official rate and
BDC, which has led to increased calls for naira devaluation. The International Monetary
Fund (IMF) and Business owners are among the major advocates for a relaxation
of the forex restrictions set by the CBN, in order to enhance the level of economic
activities.
Nigeria Economic Update (Issue 1)
The
external reserve increased week-on-week by 2 percent to $26.3 billion on
January 6, 2017. The increase was likely triggered by continued
marginal rise in crude oil price, which moderated oil revenue in the review
week. The recent rise in crude oil price is likely to be maintained in the
short term given the recent oil production cut deal by OPEC members. Thus, the Nigerian
government should target short term increase in crude oil production to fully
take advantage of Nigerias exemption from oil production cut and potential
rise in oil prices.