Abuja, Nigeria. July 16th, 2019– The NOIPolls Personal Well-Being (PWBI) report for Q2, 2019 revealed a marginal decrease of 0.3–points in Q2, 2019 to stand at 64.5-points as against the value (64.8-points) obtained in Q1, 2019.
The PWBI is determined by the level of satisfaction of Nigerians on various components of their personal lives.
Interestingly, only two of the seven factors that comprises the PWBI experienced increase while the remaining five components experienced decrease in Q2, 2019. The highest increase experienced is in Economic Situation index which increased by 0.8-points to stand at 44.2-points in Q2, 2019 from the 43.4-points obtained in Q1, 2019.
Also, the Personal Health index experienced a 0.6-point increase to stand at 76.5-points in Q2, 2019 from 75.9-points increase experienced in Q1, 2019.
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 behaviour, the economy, and the business environment in Nigeria.
THE NOIPolls PERSONAL WELL-BEING INDEX (PWBI)
Findings from the Q2, 2019 report revealed a marginal 0.3 points decrease in the PWBI from Q1, 2019 to stand at 64.5-points. Additionally, a breakdown of the seven key indicators that comprise the PWBI showed that Nigerians are mostly satisfied with their Personal Religion (88.3-points), Social Interactions (79.7-points), Personal Health (76.5-points), and Personal Security (63.1-points) as they obtained points above average. However, the remaining indices remained average and below which suggest that Nigerians are not satisfied with these indicators; these include Standard of Living (50.9-point), Achievement in Life (51.0-points), Economic situation (44.3-points). The survey clearly show that Nigerians are not satisfied with their Economic Situation as it remained the lowest in all the seven indices so far obtained although it experienced a marginal increase of 0.9-points to stand at 44.2-points in Q2, 2019. These seven points (7) key indicators that comprise the PWBI are highlighted in the chart below.
Personal Standard of Living Index- 50.9
The Personal Standard Living Index decreased by 1.8-points to stand at 50.9-points in Q2, 2019 when compared to 52.7-points obtained in Q1, 2019.
Personal Health Index- 76.5
The Personal Health index increased by 0.6-point to stand at 76.5-points in Q2, 2019 when compared to 75.9 points obtained in Q1, 2019. This depicts a slight increase in the level of satisfaction of Nigerians in their health index
Personal Achievement Index-51.0
This index decreased by 2.3-points to stand at 51.0-points in Q2, 2019 when compared to 53.4-points obtained in Q1, 2019.
Personal Security Index-63.1
The Personal Security index decreased by 3.1-points to stand at 63.1-points in Q2, 2019 when compared to the 66.6-points obtained in Q1, 2019. It suggests that some Nigerians may not feel as secured as they would have wanted probably due to security issues across the country.
Personal Social Interaction-79.7
This index experienced a decrease of 0.4-points to stand at 79.7-points in Q2, 2019 as against 80.1-points obtained in Q1, 2019
Personal Religion Index 89.5
The Personal Religion index has always been the highest index which suggest that Nigerians hold religion in high esteem. The Personal Religious index decreased by 1.2-points to stand at 88.3-points obtained in Q2, 2019 when compared to 89.5-points obtained in Q1, 2019.
Economic Index-44.2
The Economic index witnessed an increase of 0.9-points to stand at 44.2-points in Q2, 2019 when compared to 43.4–points obtained in Q1, 2019. It must be stated here that despite the marginal increase, the index is still below average.
TREND ANALYSIS
A study of the analysis of the results obtained from Q2, 2019 showed that only two of the seven key indicators that constitute the PWBI experienced an increase, this include the Health and Economic., Sub-indicators while the remaining five sub indications experienced a decline. Furthermore, the quarter-on-quarter analysis revealed that the NOIPolls PWBI experienced a decrease of 0.3-points to stand at 64.5 in Q2, 2019 as against 64.8-points obtained in Q1, 2019.
In conclusion, it is imperative to state that the government, charged with the responsibility of ensuring that the wellbeing of the citizenry is optimum, to implement viable policies (such as family welfare, low income support, child supportetc.) that will boost the well-being of Nigerians. This is because happy people are likely to be friendlier, healthier, more cooperative and better citizens hence they are more likely to be productive and successful as well as likely to earn more income. For instance, studies has indicated that there is a high probability for people to be successful and contribute to the society when they are happier. [1]
Finally, there is an urgent need for the government to introduce more social safety net which is a scheme practised around the world to cater for the less-privilege in the society which in one way or the other impact on individual wellbeing as well as create a happeir and healthier country.
Survey Methods
The Personal Well Being Index Poll was conducted in Quarter 2, 2019. 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 and you can download our mobile app NOIPolls on your smartphone.
Disclaimer
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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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