Abuja, Nigeria. October 14th, 2014 –The Portfolio of Indices report revealed that the NOIPolls Personal Well-Being Index (PWBI) increased by 2.3-points to stand at 45.6-points in September 2014, a peak position so far in 2014. In addition, there was an increase in all indicators that comprise the PWBI with the highest increase observed in the Personal Security Index with 7.2-points. Furthermore, the NOIPolls Consumer Confidence Index (CCI) increased slightly by 0.6-point to stand at 71.3-points in September 2014. Further analysis of the two indicators that make up the CCI revealed that the Present Situation Index (PSI) increased by2.3-points while the Expectation Index (EI) declined by 0.6-point. These are the key highlights from the September Portfolio of Indices Press Release.
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 September 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 September 2014 increased by 2.3-points to stand at 45.6 points. This represents the highest point attained so far in 2014 and also the highest increase over a month interval. Analysis of the individual indicators shows increases in the perception of Nigerians across all measured indicators that comprise the PWBI. Nigerians are most satisfied in terms of Religion(89.2-points); Social Interaction(78.2-points), Physical Health (75.4-points) and Personal Security (60.2-points) Additionally, Nigerians are somewhat neutral with respect to their Achievement in Life(56.8-points) and Standard of Living (53.1-points). On the other hand, Nigerians remain discontented with their Personal Economic Situation (43.4-points); this has remained the lowest ranked indicator since January 2014 despite a 3-points increase this month.
Monthly trend analysis shows that all the indicators that comprise the PWBI experienced an increase; the highest and lowest increases were observed in the Personal Security Index and Religion Index with 7.2-points and1.4-points respectively. Furthermore, the Personal Security Index is at the highest point so far in 2014 suggesting that Nigerians are presently more satisfied with their personal security.
Further findings from trend analysis shows that the PWBI has been on the increase since July 2014 and experienced a substantial increase of 2.3-points in September 2014 which is the highest point (45.6-points)over nine months. Additionally, the average PWBI from January 2014 till date is 42.7-points and the current September reading is 2.9-points above this average.
The NOIPolls Consumer Confidence Index
The NOIPolls Consumer Confidence IndexThe NOIPolls Consumer Confidence Index for September 2014increased slightly by 0.6-point to stand at 71.3-points. In spite of this slight increase, the CCI remains high suggesting Nigerians remain positive about their current situation and are hopeful about the future.
The NOIPolls Consumer Confidence Index comprises of 2 independent variables; the Present Situation Index(PSI) and Expectation Index (EI). The Present Situation Index experienced a 2.3-points increase and is currently at 62.8-points revealing that Nigerians are relatively confident about their present economic situation. In addition, the Expectation Index declined slightly by 0.6-point and currently stands at 77.7-points implying that consumers are highly optimistic about the future.
Trend analysis shows that the overall CCI increased slightly by 0.6-point to 71.3-points in September 2014.The CCI average since January 2014 is 73.1-points, inferring that the CCI for September 2014 is 1.8-pointsbelow the average till date.
In conclusion, current poll results have revealed that the NOIPolls Personal Well-Being Index (PWBI) increased by 2.3-points to stand at 45.6 in September 2014; the highest point so far in 2014 and the highest month-on-month increase. In addition, in September all the indicators that comprise the PWBI experienced an increase indicating that Nigerians are more satisfied with all seven indicators than in August 2014. In addition, the NOIPolls Consumer Confidence Index for September 2014 increased slightly by 0.6-point to stand at 71.3-points; the Present Situation Index (PSI) increased by 2.3-points, while the Expectation Index (EI) declined by0.6-point.
The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in the month ofSeptember 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. 4,000 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, 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.