Abuja, Nigeria. March 12th, 2015 –The Portfolio of Indices results released by NOIPolls Limited for the month of February 2015 revealed that the NOIPolls Personal Well-Being Index (PWBI) currently stands at 45.8-points, representing a 1.9-points decrease when compared to January 2015. In addition, there was a decline in all the indicators that make-up the PWBI. Similarly, the NOIPolls Consumer Confidence Index (CCI) slightly declined by 1-point to stand at 60.4-points from 61.4-points in January 2015. Furthermore the Present Situation Index (PSI) experienced a decline of 3.3-points whereas, the Expectation Index (EI) increased by 0.8-point in February 2015. These are the key highlights from the February 2015 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 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.
This report presents the February 2015 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 February 2015 currently stands at 45.8-points. This result represents a 1.9-points decrease when compared to January 2015. Analysis of the individual indicators reveals differences in view and fulfilments of Nigerians on several attribute of their lives. Nigerians are most satisfied in terms of Physical Health (77.2-points), Social Interaction (79.7-points), and Religion (90.3-points). Nigerians are neutral in terms of Standard of Living (53.5-points), Achievement in Life (56.6-points) and Personal Security (58.6-points), while Nigerians are not contented with their Personal Economic Situation (43.6-points). This index has constantly remained the lowest ranked indicator for over fourteen months.
Trend analysis indicates that, all the indicators that make-up the PWBI experienced a decrease. The highest decline was experienced by the Standard of living index with 4.9-points from January 2015.
More findings from monthly trend analysis revealed that the NOIPolls PWBI experienced a decrease of 1.9-points when current result is compared with January 2014.
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The NOIPolls Consumer Confidence Index (CCI)
The NOIPolls Consumer Confidence Index for February 2015 decreased to 60.4-points. This result represents a 1-point decrease from January 2015 though it still shows relative satisfaction and also implies that Nigerians are optimistic about their current situation.
The NOIPolls Consumer Confidence Index is made-up of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). The PSI decreased by 3.3-points to stand at 34.3-points, revealing that Nigerians are not confident about their present situation. On the other hand, the EI slightly increased by 0.8-points to currently stand at 80.0-points, implying that consumers are optimistic of a promising future.
Trend analysis reveals that the overall CCI declined by 1-point to 60.4-points in February 2015 when compared to January 2015.
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In conclusion, current results have shown that the NOIPolls Personal Well-Being Index (PWBI) increased by 1.9-points to stand at 45.8-points in January 2015, with a decline in all the indicators that make up the PWBI. Comparably, the NOIPolls Consumer Confidence Index decreased by 1-point to stand at 60.4-points. More findings revealed that the Present Situation Index (PSI) decreased by 3.3-points while, the Expectation Index (EI) decreased by 0.8-point in February 2015.
The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in the month of February 2015. 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.