The NOIPolls Personal Well-Being Index Stood At 57.6 In June 2020
Abuja, Nigeria. July 7th, 2020-The NOIPolls Personal Well-Being report for June 2020 stood at 57.6 points amidst the COVID-19 outbreak in Nigeria. The Personal Well-Being Index (PWBI) is determined by the satisfaction level of Nigerians on various components of their personal lives. Out of the seven indicators, the economic index (33.1-points), standard of living index (43.0-points) and achievement in life index (46.1-points) were the lowest ranking indices while religion index (82.0) had the highest point. The measures deployed in fighting COVID-19 outbreak in the country could also have contributed to the poor economic index amongst Nigerians. Therefore, there is an urgent need for the government at all level to improve the economy as this index may also directly or indirectly affect other indices. These are some of the key highlights from the personal well-being index 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 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 while 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 the perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusions 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.
The NOIPolls Personal Well-Being Index (PWBI)
A breakdown of the seven key indicators that comprise the PWBI showed that Nigerians are mostly satisfied with their Religion (82.0-points), Health (75.1-points) and Social interaction (65.4-points) as they obtained points above average. However, while personal security index (58.4-points) was slightly above average, the remaining indices remained below average which may suggest that Nigerians are not satisfied with these indicators; they include Achievement in Life (46.0-points), Standard of living (43.0-points) and Economic situation (33.1-points).
In general, the survey shows that Nigerians are not satisfied with their personal economic situation as it is the lowest ranked indicator amongst all the seven indices.
These seven key indicators that comprise the PWBI are highlighted in the chart below.
In conclusion, the poll revealed that the PWBI for June 2020 stood at 57.6-points. The economic index was ranked the lowest and this is not unconnected with the reality and challenges posed by COVID-19 outbreak in the country. Therefore, addressing the current economic challenges will require the government to put in place an interim measure such as providing palliatives to Nigerians especially in the informal sector who depend on daily income for survival. This action will temporally yield sustained and real progress thereby raising the well-being of all Nigerians.
Survey Methods
The Personal Well Being Index Poll was conducted in the week commencing June 29, 2020. 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 4.65%. NOIPolls Limited, No1 for country specific polling services in West Africa. 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 or thinking.
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