IMPACT OF ROAD TRANSPORTATION ON ECONOMIC GROWTH IN OYO STATE, NIGERIA.

Abstract

Investments in road infrastructure typically result in changes in travel times, and these
changes have economic implications over time. The advantages of mobility that come with
higher transportation efficiency include significant time savings for other useful endeavors.
The study aims to examine how road transportation affects Ibadan's economic growth in
light of the aforementioned issue. The city of Ibadan was the site of the study. The research
population comprises individuals that utilize road transportation in the metropolitan area
of Ibadan, either as individuals or public transportation providers. Adopted was the primary
data source. According to the survey report, 68.7% of the sample size, or 103 units, agreed
that effective transportation can affect how much each and every road user spends on a
daily basis. The free flow of goods and services is hampered by a number of issues, which
further impedes a country's ability to thrive economically. The survey also showed that the
majority of respondents from the study area named the transport calendar as the main
obstacle to the free flow of transportation via road, accounting for 89 (59.3%) of the sample
size, followed by the availability of vehicle routes, accounting for 31 units (20.7%) of the
sample size. The summary of regression analysis demonstrates that there was a positive
correlation between the quantity of road transportation infrastructure and all of the
independent variables, including labor availability, market size, production scale, and
lower access prices. 198.055 is the F-ratio, and it is statistically significant at p<0.05. The
investigation came to the conclusion that no human activity could be accomplished without
effective road transportation. According to the report, there should be sufficient
infrastructure to meet high travel demand.