The NOIPolls Personal Well-Being Index at 64.8-points for Quarter 1, 2019

The NOIPolls Personal Well-Being Index (PWBI) report for Q1, 2019 revealed an increase of 3.3-points in the PWBI to stand at 64.8-points from 61.5-points obtained in Q4, 2018. The PWBI is determined by the satisfaction of Nigerians on various aspects of their lives. All of the seven factors that constitute the PWBI experienced an increase except the Religion Index which experienced a marginal increase. Remarkably, the highest increase was seen in the Personal Security Index with an 8.7-points increase to stand at 66.6-points from 57.9-points obtained in Q4, 2018. The increase in the security sub index may be attributed to tighter security measures put in place by the government in periods leading up to the 2019 general elections to ensure a free and fair elections and improve security situation in the country. The 2019 general election interestingly culminated with the period in view (Q1, 2019). These are the key highlights from the Q1, 2019 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 Q4, 2018 results for the NOIPolls Personal Well Being Index (PWBI).

THE NOIPolls PERSONAL WELL-BEING INDEX (PWBI)

Findings from the Q1, 2019 report revealed a 3.3 points increase in the PWBI from Q4 of 2018 to stand at 64.8 points. It is worthy to note that the Religion Index, which measures people’s satisfaction with their 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 (89.5-points), Social Interaction (80.1-points), Physical Health (75.9-points) and Personal Security (66.6-points). All these indices remained above average while the Achievement in Life (53.3-points) and Standard of Living (52.7.-points) indices remained below average, depicting neutrality amongst Nigerians. Some Nigerians were not satisfied with their personal economic situation (43.18-points) index, which happens to be the lowest point among the indices although this indicator experienced an increase in Q1 2019. These seven (7) key indicators that comprise the PWBI are highlighted in the chart below;

Personal Standard of Living Index – 52.7

The Personal Standard of Living Index Increased by 3.8-points in Q1, 2019 from the 48.9-points obtained in Q4, 2018 to stand at 52.7-points and is indicative of a slight upward surge in the satisfaction of Nigerians with their Personal Standard of Living in Q1, 2019.

Personal Health index – 75.9

This index increased by 2.7-points to stand at 75.9-points in Q4, 2018 in comparison to 73.5-points obtained in Q4, 2018.

Personal Achievement Index – 53.3

This index recorded an increase of 4.5-points to stand at 53.3 -points in Q1, 2019 when compared to 48.8 obtained in Q4 2018, indicating a decrease in the level of satisfaction in the personal achievements of Nigerians.

Personal Security Index – 66.6

The personal security index increased by 8.7-points in Q1, 2019 to stand at 66.6-points from the 57.9 points obtained in Q4, 2018.

Personal Social Interaction Index – 80.1

This index experienced an increase of 4.2 -points to stand at 80.1-points in Q1, 2019 compared to 75.9-points obtained in Q4, 2018. This result depicts 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 – 89.5 

The Personal Religion Index has always been the highest index amongst the indices, which is suggestive of how religious the citizens are. The Personal Religion Index increased marginally by 1.1-points to stand at 89.5-points in Q1, 2019. 

Economic Index – 48.2

The Economic Index witnessed a considerable increase of 4.9-points to stand at 48.2-points in Q1, 2019 from 38.3-points recorded in Q4, 2018. Although, this index increased from Q4, 2018 it falls below average when compared to indices. This implies that that much is still needed to reinvigorate the economy of the nation.

TREND ANALYSIS

A study of the trend analysis of the results obtained from the Q1, 2019 PWBI showed that all the seven key indicators that constitute the PWBI experienced an increase with the highest increment recorded in the security sub-indicators. Furthermore, the quarter-on-quarter analysis showed that the NOIPolls PWBI experienced an increment of 3.3-points to stand at 64.8-points in Q1, 2019 compared to 61.5-points of Q4, 2018.

In conclusion, results obtained from the NOIPolls PWBI for Q1, 2019 revealed an increase of 3.3-points in the Personal Wellbeing of Nigerians but majority remain unsatisfied with their Economic Situation, as the index stood at 48.2-points. Irrespective of the increase recorded in the economic situation indicator, it still remained the lowest ranked index amongst the seven indicators that make up the NOIPolls PWBI. Wellbeing may best be thought of as a self-motivated process, evolving from the way in which people interrelate with the world around them. 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). 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 wellbeing, as one of the key aims of government is to promote a good life.

Survey Methods

The Personal Well Being Index Poll was conducted in Quarter 4, 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 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

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Send in Your Business News to BusinessTrumpet News!