Private Car Users’ Willingness to Pay for Designated Parking Spaces in Ile-Ife, Nigeria

Abstract

The study examined the private car users’ willingness to pay for designated parking spaces in Ile-Ife, Nigeria. This is with a view to providing information for sustainable provision of car park and its inherent facilities in major activity centers of the urban environment. Data were obtained from 167 private car users in major activity centers of the study area through purposive sampling technique. The data were analyzed using descriptive statistics. Relative Willingness Index (RWI) in the study area showed that the car users were most willing to pay for ‘surface car park’ and ‘shared car park’ with indices of 4.47 and 3.39 respectively. The basic car park attributes preferred were: car washing service, toilet facilities, security service and surveillance cameras among others. It was also established that the willingness to pay (WTP) for parking space varied directly with the education (primary RWI= 2.97; secondary RWI= 3.44; tertiary RWI= 4.15) and income statuses (low RWI= 2.72, middle RWI= 3.61; high RWI= 3.94) of the users. The minimum, maximum and average amount of money that the users could afford and willing to pay after using parking space and inherent facilities were respectively N50, N250 and N175 (US$1 = N365). The study concluded that the information obtained on the car owners’ WTP for parking space and associated facilities could be effective device in the hands of policy makers and private investors at ensuring that the problems of the unavailability of car parks in the urban environment are curbed.