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Determinants of Vehicle Ownership in Nigeria

Author

Listed:
  • Frances Ifeoma Ukonze
  • Maxwell Umunna Nwachukwu
  • Harold Chike Mba
  • Donald Chiuba Okeke
  • Uloma Jiburum

Abstract

Vehicle ownership has increased tremendously in Nigeria for the past decades. This study determined factors that influence vehicle ownership intending to develop a more appropriate basis for forecasting vehicle ownership in the country. Multiple linear regression technique was used to identify the factors that influence vehicle ownership using national data from secondary sources. The results showed that four socioeconomic factors, namely, gross domestic product, per capita income, fuel price, and literacy level, as well as one physical factor, namely, stock of public transport vehicles, have significant effects on vehicle ownership at .01 significance level. Vehicle ownership was 35.3 million in 2018. It will increase to 48.7, 66.2, and 76.1 million in 2030, 2040, and 2050, respectively. Consequently, the formulation of appropriate policy that will be useful for monitoring key parameters is germane for predicting vehicle ownership in the country.

Suggested Citation

  • Frances Ifeoma Ukonze & Maxwell Umunna Nwachukwu & Harold Chike Mba & Donald Chiuba Okeke & Uloma Jiburum, 2020. "Determinants of Vehicle Ownership in Nigeria," SAGE Open, , vol. 10(2), pages 21582440209, May.
    • Handle: RePEc:sae:sagope:v:10:y:2020:i:2:p:2158244020922970
    DOI: 10.1177/2158244020922970
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    References listed on IDEAS

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    2. Maxwell Umunna Nwachukwu & Clement Obinna & Uloma Jiburum & Donald Chiuba Okeke, 2023. "Analysis of Modal Split of Intra-urban Trips in a Centenary City: A Case Study of Enugu, Nigeria," SAGE Open, , vol. 13(1), pages 21582440231, February.

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