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Poll: Nigeria’s personal well-being index rises slightly

By on August 14, 2014

A survey by the NOIPolls Limited has revealed that the Personal Well-being Index (PWBI) increased slightly by 0.1 point and stood at 41.5 in the month of July 2014.

Furthermore, the poll showed there was a decline in three of the seven indicators that constitutes the PWBI (standard of living, achievement in life and economic situation), and an increase in three other indicators (personal security, social interaction and religion), while the health indicator remained unchanged.

Additionally, it showed the achievement in life index experienced the highest decline with 1.9-points, while the personal security index experienced the largest increase with 1.4 points.

More findings revealed that the NOIPolls Consumer Confidence Index (CCI) for July 2014 stood at 71.2; thereby indicating a 0.6-point decline from June 2014.

The Present Situation index (PSI, 60.4) and the Expectation index (EI, 79.2), which are the two indicators that make up the CCI both experienced slight declines of 1.2 points and 0.1 point respectively.

In February 2014, NOIPolls 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 PWBI 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 minority conducts 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.

 

 

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