Abuja, Nigeria. August 12th, 2014 – The Portfolio of Indices report released by NOIPolls Limited has revealed that the NOIPolls Personal Well-Being Index (PWBI) increased slightly by 0.1-point and stood at 41.5 points in the month of July 2014. Furthermore, there was a decline in three of the seven indicators that constitute the PWBI (Standard of living, Achievement in life & Economic situation), and an increase in three other indicators (Personal security, Social interaction & Religion); while the Health Indicator remained unchanged. Additionally, the Achievement in life index experienced the highest decline with 1.9-points, while the Personal Security Index experienced the largest increase with 1.4-points. More findings revealed that the NOIPolls Consumer Confidence Index (CCI) for July 2014 stood at 71.2 points; thereby indicating a 0.6-point decline from June 2014. The Present Situation index (PSI, 60.4 points) and the Expectation index (EI, 79.2 points), which are the two indicators that make up the CCI both experienced slight declines of 1.2-points and 0.1-point respectively. These are the key highlights from the July 2014 Portfolio of Indices Result 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 minority conducts 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 July 2014 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 for July 2014 increased slightly by 0.1-point to stand at 41.5 points.Analysis of the individual indicators that make up the PWBI shows differences in the satisfaction of Nigerians on several aspects of their lives. Nigerians are most satisfied in terms of Religion (86.9 points); Social Interaction (73.9 points) and Physical Health (74.0 points). In addition, Nigerians are neutral in terms ofAchievement in Life (50.4 points), Standard of Living (47.3 points) and Personal Security (49.3 points) while Nigerians are not satisfied with their Personal Economic Situation (35.6 points). Furthermore, the Personal Economic Index has remained the lowest ranked indicator over the 19 month period that NOIPolls introduced the PWBI in January 2013.
Monthly trend analysis reveals a decline in 3 of the indicators that constitute the PWBI; Achievement in life index with 1.9 points; Economic Situation index with 1.2-points and Standard of Living index with 0.5-point. Conversely, increases were observed in the Religion, Social interaction and Security indices; 1.2-points, 0.8-point and 1.4-points respectively. The Health index maintained the same rating as recorded in June 2014
More findings from trend analysis show that the NOIPolls Personal Well Being Index increased slightly by 0.1-point in July 2014. Furthermore, the average PWBI from January till July 2014 is 42.1 points and the PWBI for the month of July 2014 is 0.6-point below the average PWBI till date. To read more on NOIPolls Personal Well-Being Index for July, click here
The NOIPolls Consumer Confidence Index (CCI)
The NOIPolls Consumer Confidence Index for July 2014 stands at 71.2 points; decreasing by 0.6-point from June 2014. The relatively high score implies that Nigerians remain positive about their current personal situation, the economy and are also hopeful about their future.
The NOIPolls Consumer Confidence Index comprises of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). The Present Situation Index is currently recorded at 60.4 points and the Expectation index at 79.2 points. The PSI and the EI declined by 1.2-points and 0.1-points respectively in July 2014.
Trend assessment revealed that the overall CCI decreased by 0.6-point to 71.2 points in the month of July 2014. The average CCI from January to July 2014 is 73.3 points; the CCI for July 2014 is 2.1-points below the average till date. To read more on NOIPolls Consumer Confidence Index for July, click here.
In conclusion, this current poll results have revealed that the NOIPolls Personal Well-Being Index (PWBI) increased by 0.1-point to stand at 41.5 in July 2014. Furthermore, there was a decline in 3 of the indicators that make up the Personal Well-being Index while increases were observed in the Religion, Social Interaction and the Personal Security indices and the Health Index remained unchanged. Furthermore, the NOIPolls Consumer Confidence Index for July 2014 decreased by 0.6-point to stand at 71.2. More findings reveal that both the Present Situation Index (PSI) and the Expectation Index (EI), which are the two indicators that make up the CCI slightly declined by 1.1-points and 0.1-point respectively in July 2014.
The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in the month of July 2014. The PWBI involved telephone interviews of a random nationwide sample.1,000 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. 4,000randomly 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, which works in technical partnership with the Gallup Organisation (USA), to conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com
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.