The NOIPolls Personal Well-Being Index (PWBI) report for Q4, 2018 revealed a decline of 1.4-points in the PWBI to stand at 61.5-points from 62.9-points obtained in Q3, 2018. The positive perception of the various aspects of one’s life, altogether, is determined by the Personal Well-Being Index. All of the seven factors that constitute the PWBI experienced a marginal decline except 2; the health index and the Economic situation index which experienced marginal increases. Remarkably, the highest decline was seen in the Achievement in life Index with a 5.5-point decline to stand at 48.8-points from the 54.3-points obtained in Q3, 2018.
Further analysis revealed the Personal Security and Religion Index tie as the joint second highest to decline when compared to results obtained in Q3, 2018. The Personal Security Index declined by 1.8-point to stand at 57.9-points in Q4, 2018 from 59.7-points obtained in Q3, 2018. The reason for the 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 them. The Religion Index experienced a decline of 1.8 to stand at 88.4-points in Q4, 2018 from 90.2-points obtained in Q3, 2018. These are the key highlights from the Q4, 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 Q4, 2018 results for the NOIPolls Personal Well Being Index (PWBI).
THE NOIPolls PERSONAL WELL-BEING INDEX (PWBI)
Findings from the Q4, 2018 report revealed a marginal decline in the PWBI to stand at 61.5-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 (88.37-points), Social Interaction (75.9-points), Physical Health (73.5-points) and Personal Security (57.9-points). All these indices remained above average while the Achievement in Life (48.8-points) and Standard of Living (48.9-points) indices remained below average, depicting a neutrality amongst Nigerians. Some Nigerians were not satisfied with their personal economic situation (38.3-points) index, which happens to be the lowest point among the indices. These seven (7) key indicators that comprise the PWBI are highlighted in the chart below;
Personal Standard of Living Index – 48.9
The Personal Standard of Living Index decreased by 1.7-point in Q4, 2018 from the 50.6-points obtained in Q3, 2018 to stand at 48.9-points and is indicative of a slight negative trend in the satisfaction of Nigerians with their Personal Standard of Living in Q4, 2018.
Personal Health index – 73.2
This index increased marginally with 0.4-points to stand at 73.5-points in Q4, 2018 in comparison to 73.2-points obtained in Q3, 2018.
Personal Achievement Index – 48.8
This index recorded the highest decline of 5.5-point to stand at 48.8-points in Q4, 2018 when compared to 54.3 obtained in Q3 2018, indicating an increase in the level of dissatisfaction in the personal achievements of Nigerians.
Personal Security Index – 57.9
The personal security index decreased by 1.8-points in Q4, 2018 to stand at 57.9-points from the 59.7 points obtained in Q3, 2018 representing the joint second highest decline in the indices.
Personal Social Interaction Index – 75.9
This index experienced a decrease of 0.7-point to stand at 75.9-points in Q4, 2018 compared to 76.6-points obtained in Q3, 2018. Despite the decline, 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 – 88.4
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 decreased marginally by 1.8-points to stand at 88.4-points in Q4, 2018 which is the joint second highest decline in the indices from the 90.2-points obtained in Q3, 2018.
Economic Index – 38.3
The Economic Index witnessed a marginal increase of 1.0-point to stand at 38.3-points in Q4, 2018 from 37.1-points of Q3, 2018. This index has consistently been the lowest ranked index over the years implying that much is still needed to reinvigorate the economy of the nation.
A study of the trend analysis of the results obtained from the Q4, 2018 PWBI showed that 2 out of all the seven key indicators that constitute the PWBI increased while the remaining 5 indices experienced a decline. Furthermore, the quarter-on-quarter analysis showed that the NOIPolls PWBI experienced a decline of 1.4-point to stand at 61.5-points in Q4, 2018 compared to 62.9-points of Q4, 2018.
Finally, results obtained from the NOIPolls PWBI for Q4, 2018 revealed that there was a marginal decrease of 1.4-points in the Personal Wellbeing of Nigerians but majority remain unsatisfied with their Economic Situation, as the index stood at 38.3-points and still remained the lowest ranked index amongst the seven factors that make up the NOIPolls PWBI. The Economic Index which decreased marginally has consistently been ranked below average by Nigerians while the Religion and Social Indices witnessed a decrease of 1.8-points and 0.7-point respectively. 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). Also, decreased 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 wellbeing, as one of the key aims of government is to promote a good life: a life which has meaning and in which people feel happy.
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.
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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.