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• Published Subscription 2 Mar 2025

  A Markov Chain Model for Assessing the Risk of Road Transport in Nigeria

  By L. I. Okoroji, H. O. Amuji, B. N. Okechukwu, W. I. Osuji, K. O. Okeke, V. N. Ikeogu

  Abstract: In this paper, we study the occurrence of road accidents in the South-East geopolitical zone of Nigeria to determine the fatality within the period under study. The data for the study was secondary data collected on road accidents from FRSC Statistical Digest, 2019 - 2023. We adopted Markov chain analysis to determine the risk of road transport using the risk matrix. From the result of the study, we discovered that …

  Published in NOLEGEIN Journal of Business Risk management · Vol. 8, Issue 1, 2025 · pp. 10–18 Read article →