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Journal of Advances in Economics and Finance
JAEF > Volume 5, Number 2, May 2020

Evaluating the Potential Impact of the East-West Rail Service on the Socio-Economic Output of Communities along Its Corridor

Download PDF  (638.8 KB)PP. 23-29,  Pub. Date:April 24, 2020
DOI: 10.22606/jaef.2020.52002

Author(s)
Charles Asenime
Affiliation(s)
Department of Transport Planning and Policy, School of Transport, Lagos State University, Ojo, Nigeria
Abstract
Nigeria is a vast country with a large population and natural resources scattered almost equally along its entire land mass; these resources have been variously mined and require the use of transport to move them. They are usually moved by heavy vehicle such as rail built during the colonial era. As the economy however expands, the need to expand the rail network becomes expedient, more especially since their network is designed in a triangular form from the North East to south east and from North West to the south west of the country. This rail network has left a gapping need for rail services between the South east and South west of Nigeria more so, now that trade between the both regions has grown. This paper is therefore aimed at evaluating the potential impact of the East-West Rail service on the socio-economic output of communities along its corridor. Data used for this paper was from various fieldworks conducted along the east-west corridor between 2016-2018 to examine its economic profile and the socio economic activities of communities along the corridor. Findings from the paper show that travel time will reduce by at least 50%, also, the corridor accounts for more than 30% of the total road fatalities in Nigeria, it is therefore predicted that these will reduce drastically and will promote security which has been compromised by the activities of armed bandits and herdsmen. Added to this, the volume of trade between imports from the Apapa ports complex needed in the eastern markets will increase and will have a multiplier effect on job creation and the reduction of the cost of goods. The paper concludes that the construction of this all important rail service will reduce poverty among communities along the corridor, create more jobs and improve lifestyles.
Keywords
population, resources, rail network, regions security, travel time, corridor, lifestyle
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