This study develops a model for electrical conductivity of polymer carbon nanofiber (CNF) nanocomposites (PCNFs), which includes two steps. In the first step, Kovacs model is developed to consider the CNF, interphase and tunneling regions as dissimilar zones in the system. In the second step, simple equations are expressed to estimate the resistances of interphase and tunnels, the volume fraction of CNF and percolation onset. Although some earlier models were proposed to predict the electrical conductivity of PCNFs, developing of Kovacs model causes a better understanding of the effects of main factors on the nanocomposite conductivity. The developed model is supported by logical influences of all factors on the conductivity and by experimented conductivity of several samples. The calculations show good accordance to the experimented data and all factors rationally manage the conductivity of PCNFs. The highest conductivity of PCNF is gained as 0.019 S/m at the lowest ranges of polymer tunnel resistivity (ρ = 500 Ω m) and tunneling distance (d = 2 nm), whereas the highest levels of these factors (ρ > 3000 Ω m and d > 6 nm) cannot cause a conductive sample. Also, high CNF volume fraction, poor waviness, long and thin CNF, low “k”, thick interphase, high CNF conduction, high percentage of percolated CNFs, low percolation onset and high interphase conductivity cause an outstanding conductivity in PCNF.