In Quarter 2; The NOIPolls The Consumer Confidence Index Increased By 2.5-points.

Abuja, Nigeria. July 16th, 2015 –The Portfolio of Indices report released by NOIPolls Limited for Q2, 2015 revealed that the NOIPolls Personal Well-Being Index (PWBI) decreased by 1.1-points to stand at 45.1-points.More findings revealed that all theindicators that constitute the PWBI experienced a decline except the security index that increased by 1.2-points. Comparatively, the NOIPolls Consumer Confidence Index (CCI) increased by 2.5-points to stand at 62.4-points in Q2 2015. In addition, the Present Situation Index (PSI) and Expectation Index (EI) both experienced an increase of 0.3-points and 4.1-points to stand at 33.6-points and 83.9-points respectively. This implies that while there is a slight increase in the confidence of Nigerians on their present situation, they are optimistic about their future.  This position may have been impacted by the expectations of Nigerians on what the new administration would bring to the table inorder to improve the general wellbeing of Nigerians. These are the key highlights from the Q2 2015 Portfolio of Indices Press Release.

In February 2014, NOIPolls Limited introduced its portfolio of indices; the NOIPolls Personal Well-Being Index (PWBI), the NOIPolls Consumer Confidence Index (CCI) and the NOIPolls Eagle 30 Business Confidence Index (EBCI). The NOIPolls Personal Well-Being Index measures factors impacting on the lives of everyday Nigerians; thereby producing a complete view of the individual’s personal well-being. The NOIPolls Consumer Confidence Index provides consumer assessments of the economic situation and their intentions and expectations for the future. The NOIPolls Eagle 30 Business Confidence Index measures business leaders’ perceptions and expectations about the Nigerian business environment using the top 30 companies in the country.

Nigerian businesses, financial and government agencies largely depend on their perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusion on the business environment based on information from their immediate surroundings while the minorities conduct surveys that are time and money consuming. However, the introduction of these indices provides indicators that will ensure stakeholders can detect and respond to changes in consumer behavior, the economy, and the business environment in Nigeria.

This report presents the Q2, 2015 results for the NOIPolls Personal Well-Being Index (PWBI) and NOIPolls Consumer Confidence Index (CCI).

The NOIPolls Personal Well-Being Index (PWBI)

The NOIPolls Personal Well-Being Index (PWBI) in Q2, 2015 experienced a decrease of 1.1-points to stand at 45.1-points. Analysis of the individual indicators that make up the PWBI revealed differences in the assessment of Nigerians on several attributes of their lives. Nigerians are mostly contented in terms of their Health (76-points), Social Interaction (80-points), andReligion(89.8-points). Nigerians are somewhat neutral in terms of Achievement in Life(52.9-points), Standard of Living (51.5-points) and Personal Security (61.5-points), while Nigerians are not satisfied with their Personal Economic Situation (39.7-points). The Economic Situation Index has remained the lowest ranked indicator both in Q1 and Q2, 2015.

Trend analysis revealed that all the indicators that constitute the PWBI experienced a decrease in Q2 2015 except the Personal Security Index with an increase of 1.2-points

More findings from quarterly trend analysis revealed that the NOIPolls PWBI experienced a decrease of 1.1-points when compared to Q1.

Please click here to see the full PWB report 
The NOIPolls Consumer Confidence Index (CCI)

The NOIPolls Consumer Confidence Index in Q2, 2015 increased by 2.5-points to stand at 62.4-points. This increase indicates a slight increase in the satisfaction of Nigerians with their current situation.

The NOIPolls Consumer Confidence Index is made-up of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). The PSI increased by 0.3-points to stand at 4.1-points implying that Nigerians are not satisfied with their present economic situation however, they expect a better future.

Trend analysis revealed that the overall CCI increased by 2.5-point to stand at 62.4-points in Q2, 2015 when compared to Q1, 2015.

Please click here to see full CCI report  

In conclusion, current results have revealed that the NOIPolls Personal Well-Being Index (PWBI) for Q2 decreased by 1.1-points to stand at 45.1-points. All the indicators that make up the PWBI experienced a decrease except the Security Index which increased by 1.2-points in Q2, 2015.  Conversely, the NOIPolls Consumer Confidence Index increased by 2.5-points to stand at 62.4-points. Further findings revealed that the Present Situation Index (PSI) and Expectation Index (EI) both increased by 0.3-points and 4.1-point respectively in Q2, 2015.

Survey Methods

The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in Q2, 2015. The PWBI involved telephone interviews of a random nationwide sample. 3,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise - within a range of plus or minus 3%.

In addition the CCI involved telephone interviews of a random nationwide sample. 12,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise - within a range of plus or minus 2%. NOIPolls Limited, No1 for country specific polling services in West Africa, works in technical partnership with the Gallup Organisation (USA). We conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com

Disclaimer

This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published.

NOIPolls hereby certifies that all the views expressed in this document accurately reflect its views of respondents surveyed for the poll, and background information is based on information from various sources that it believes are reliable; however, no representation is made that it is accurate or complete. Whilst reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors or fact or for any views expressed herein by NOIPolls for actions taken as a result of information provided in this report. Any ratings, forecasts, estimates, opinions or views herein constitute a judgment as at the date of this document. If the date of this document is not current, the views and content may not reflect NOIPolls’ current findings and/or thinking.

Press Contact

The Editor

Email: editor@noi-polls.com