Abuja, Nigeria. October 29, 2018-The NOIPolls Personal Well-Being Index (PWBI) experienced a decline of 2.3-points in Q3,2018 to stand at 62.9-points from 65.2-points obtained in Q2, 2018. The NOIPolls Personal Wellbeing Index measures the satisfaction of respondents on various aspects of their lives and a decline in these indices indicates a general dissatisfaction with the current state of affairs.
Six of the seven factors that constitute the PWBI experienced a decline except the achievement index which experienced a marginal increase. The highest decline was seen in the Economic Index with a 4.9-points decline to stand at 37.1-points from the 42.0-points obtained in Q2, 2018, this slight decrease corroborates the NOIPolls consumer confidence index (CCI) Q3 report recently released which revealed a 6.2-point decline from the result obtained in Q2 2018.
Furthermore, the Personal Security Index saw the second highest decline of 3.8-points to stand at 59.7-points in Q3, 2018 from 63.5-points obtained in Q2, 2018. The reason for this further drop in the Personal Security Index could be attributed to the series of security breaches across the length and breadth of the country which require urgent and stringent steps to contain. These are the key highlights from the Q3, 2018 Personal Well-Being Index survey.
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 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.
This report presents the Q3, 2018 results for the NOIPolls Personal Well Being Index (PWBI).
THE NOIPOLLS PERSONAL WELL-BEING INDEX (PWBI)
Findings from the Q3, 2018 report revealed a marginal decline in the PWBI to stand at 62.9-points. It is worthy to note that the Religion Index which measures satisfaction with personal religion, has always been a major influencing factor in the overall PWBI. Furthermore, a breakdown of the seven key indicators that make up the PWBI showed that Nigerians were mostly satisfied in terms of Religion (90.2-points), Social Interaction (76.6-points), Physical Health (73.2-points) and Personal Security (59.7-points). All these indices were above average. Also, findings indicated that Nigerians were rather neutral in terms of their Achievement in Life (54.3-points) and Standard of Living (50.6-points), while some Nigerians were not satisfied with their personal Economic Situation (37.1-points) index, which is the lowest ranked among the indices. These seven (7) key indicators that comprise the PWBI are highlighted in the chart below.
Personal Standard of Living Index – 50.6
The Personal Standard of Living Index decreased by 1.2-point in Q3, 2018 from the 51.8-points obtained in Q2, 2018 to stand at 50.6-points implying a decline in the level of satisfaction of respondents with their Personal Standard of Living.
Personal Health index – 73.2
This index declined by 3.4-points to stand at 73.2-points in Q3, 2018 in comparison to 76.6-points obtained in Q2, 2018.
Personal Achievement Index – 54.3
This index increased marginally by 1.2-point to stand at 54.3-points in Q3, 2018 compared to 53.1 obtained in Q2 2018, indicating a marginal increase in the level of satisfaction in the personal achievements of Nigerians.
Personal Security Index – 59.7
The personal security index decreased with 3.8-points in Q3, 2018 to stand at 59.7-points from the 63.5 points obtained in Q2, 2018 representing the second highest decrease of the indices.
Personal Social Interaction Index – 76.6
This index experienced a decrease of 2.7-point to stand at 76.6-points in Q3, 2018 compared to 79.3-points obtained in Q2, 2018. Despite the decline, this shows that Nigerians still have a high level of social interactions amongst themselves. This is even most compelling in a multi-ethnic and multi-cultural society like Nigeria.
Personal Religion Index – 90.2
The Personal Religion Index has always been the highest index amongst the indices, which is suggestive of how religious Nigerians are. The Personal Religion Index decreased marginally by 0.1-point to stand at 90.2-points in Q3, 2018 from 90.3-points obtained in Q2, 2018.
Economic Index – 37.1
The Economic Index witnessed the highest decrease of 4.9-point to stand at 37.1-points in Q3, 2018 from 41.8-points of Q2, 2018. This index has consistently been the lowest ranked index over the years and this implies that much is still needed to reinvigorate the economy of the nation.
A study of the trend analysis of the results obtained from the Q3, 2018 PWBI showed that only 1 out of all the seven key indicators that constitute the PWBI increased while the remaining 6 indices experienced a decline. Furthermore, the quarter-on-quarter analysis showed that the NOIPolls PWBI experienced a decline of 2.3-points to stand at 62.9-points in Q3, 2018 compared to 65.2-points of Q3, 2018.
Finally, results obtained from the NOIPolls PWBI for Q3, 2018 revealed a marginal decrease of 2.3-points in the Personal Wellbeing of Nigerians. Majority of Nigerians were dissatisfied with their Economic Situation as the index stood at 37.1-points and still remained the lowest ranked index amongst the seven factors that make up the NOIPolls PWBI. Additionally, the Religion and Social Indices witnessed a decrease of 0.2-points and 2.7-point respectively.
Previous studies suggest that there is a very high tendency for people to become successful in life, build a strong bond or cohesive relationships and contribute to a stronger community when they are happier, leading to a healthier society (economy). Also, increased indices of the personal wellbeing (Personal Standard of Living, Personal Health, Personal Security, Personal Social Interaction, Personal Religion and Economic Situation) can have a range of benefits for the communities in which we live if we create the enabling environment for an average Nigerian to work and earn a living, thereby, strengthening our economy. Hence, there should be concerted efforts to bring wellbeing into policy-making in Nigeria. The Ministries, Departments and Agencies that form the Nigerian government should be required to provide reports on how their policies will improve the personal wellbeing of citizens as one of the key aims of government is to promote a good life: a life which has meaning and in which people are happy.
The Personal Well Being Index Poll was conducted in Quarter 3, 2018. 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%. 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.
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.