Abuja, Nigeria. July 8th, 2014 - In June 2014, the NOIPolls Personal Well-Being Index (PWBI) declined by 1.6-points to stand at 41.4 while the NOIPolls Consumer Confidence Index (CCI) also declined slightly by 1.6-points to stand at 69.5. Furthermore, there was a decline in five of the seven indicators that make up the Personal Well-Being Index, whilst the last two indicators; the Religion Index experienced a slight increase and the Health Index remained constant respectively. Similarly, analysis of the two indicators that make up the Consumer Confidence Index reveal that the Present Situation index (PSI) decreased slightly while the Expectation Index (EI) increased. These are the key highlights from the June 2014 Portfolio of Indices Press Release.
In February 2014, NOIPolls officially unveiled 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.
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 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 June 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 June 2014 declined by 1.6-points to stand at41.4; this is a slight drop in the perception of respondents about their personal well-being. An analysis of the individual indicators that make up the PWBI shows there were declines in five out of the seven indicators that make up the Personal Well-Being Index while the remaining two indices Religion and Health Indices recorded an increase and stable position respectively. Nigerians are most satisfied in terms of Religion (86.9); Social Interaction (73.1) and Physical Health (74.0). Furthermore, Nigerians are mostly neutral in terms of Achievement in Life (52.3), Standard of Living (47.8) and Personal Security (47.9). Finally, Nigerians are least satisfied with their Personal Economic Situation (36.8). This indicator has remained the lowest ranked indicator over the 18 month period since NOIPolls introduced its PWBI in January 2013.
Monthly trend analysis reveals a drop in 5 of the indicators that make up the Personal Well-being Index and slight drop of 1.6-points overall. The only increase was observed in Religion Index (0.4-points) while the Health index maintained the same rating as May 2014.
Trend analysis from January 2014 shows that the PWBI experienced a decline in June a slight reversal of the upward trend that started in March 2014. To read more on NOIPolls Personal Well-Being Index for June, click here.
The NOIPolls Consumer Confidence Index (CCI)
The NOIPolls Consumer Confidence Index for June 2014 declined by 1.6-points to stand at 69.5. In spite of this slight decline, current results generally indicate that Nigerians feel good about their current personal situation, the economy and remain optimistic about the future.
The NOIPolls Consumer Confidence Index comprises of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). Trend analysis shows that the Present Situation Index declined by 0.7-points and currently stands at 61.7 while the Expectation Index increased by 1.7-points and stands at 79.3 in June 2014. Overall the CCI decreased by 1.6-points to 69.5 in the month of June 2014.
Trend analysis of results from January 2014 to date shows that after a steady increase observed from the lowest point observed in March 2014, the CCI in June 2014 experienced a slight decline.To read more on NOIPolls Consumer Confidence Index for June, click here.
The NOIPolls Personal Well-Being Index (PWBI) declined by 1.6-points to 41.4 in June 2014. In addition, there were decline in all five of the seven indicators that make up the Personal Well-Being Index, while the remaining two indicators ;he Religion Index experienced a slight increase while the Health remained constant from May 2014. Similarly, the NOIPolls Consumer Confidence Index declined by 1.6-points to stand at 69.49 in June 2014. Further findings reveal that the Present Situation Index (PSI) which is one of the two indicators that make up the CCI, decreased slightly while the Expectation Index increased.
The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in the month of June 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, No.1 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.