The NOIPolls Personal Well-Being (PWBI) survey for Q2, 2019 has revealed a marginal decrease of 0.3–points in Q2, 2019 to stand at 64.5-points as against the value (64.8-points) obtained in Q1, 2019. The PWBI is determined by the level of satisfaction of Nigerians on various components of their personal lives. Interestingly, only two of the seven factors that comprises the PWBI experienced increase while the remaining five components experienced decrease in Q2, 2019. The highest increase experienced is in Economic Situation index which increased by 0.8-points to stand at 44.2-points in Q2, 2019 from the 43.4-points obtained in Q1, 2019. Also, the Personal Health index experienced a 0.6-point increase to stand at 76.5-points in Q2, 2019 from 75.9-points increase experienced in Q1, 2019.
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 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 while 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 behaviour, the economy, and the business environment in Nigeria.
Personal Standard of Living Index- 50.9
According to the survey, the Personal Standard Living Index decreased by 1.8-points to stand at 50.9-points in Q2, 2019 when compared to 52.7-points obtained in Q1, 2019.
Personal Health Index- 76.5
The Personal Health index increased by 0.6-point to stand at 76.5-points in Q2, 2019 when compared to 75.9 points obtained in Q1, 2019. This depicts a slight increase in the level of satisfaction of Nigerians in their health index
Personal Achievement Index-51.0
This index decreased by 2.3-points to stand at 51.0-points in Q2, 2019 when compared to 53.4-points obtained in Q1, 2019.
Personal Security Index-63.1
The Personal Security index decreased by 3.1-points to stand at 63.1-points in Q2, 2019 when compared to the 66.6-points obtained in Q1, 2019. It suggests that some Nigerians may not feel as secured as they would have wanted probably due to security issues across the country.
Personal Social Interaction-79.7
This index experienced a decrease of 0.4-points to stand at 79.7-points in Q2, 2019 as against 80.1-points obtained in Q1, 2019
Personal Religion Index 89.5
The Personal Religion index has always been the highest index which suggest that Nigerians hold religion in high esteem. The Personal Religious index decreased by 1.2-points to stand at 88.3-points obtained in Q2, 2019 when compared to 89.5-points obtained in Q1, 2019.
The Economic index witnessed an increase of 0.9-points to stand at 44.2-points in Q2, 2019 when compared to 43.4–points obtained in Q1, 2019. It must be stated here that despite the marginal increase, the index is still below average.