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Consumers Positive On Stability Of Economy – NOI Polls

Nigeria Business News

An independent, dynamic and innovative public opinion and research organization in Nigeria, NOI Polls Limited has put consumer’s confidence index for the month of January at 83%, saying consumers in the country were positive about the stability of the economy.

The polls which revealed that consumers are highly optimistic about the future, which put the expectation index at 96.9 percent, also said that Nigerians feel good about their present personal and economic situation.

The Managing Director/ Chief executive officer of NOI Polls Ltd, Miss Oge Funlola Modie explained that a total of randomly selected 4,000 adults are polled monthly.

According to her, “NOIPolls started monthly polling for the consumer confidence index in January 2014 and the score was 83.9 percent. The score obtained in January indicates that consumers are positive about their personal and stability of the economy.

She added that, “in general, this optimism is expected to result in the purchase of more goods and services and ultimately stimulate economic growth.

On the aspect of the Eagle 30 Business Confidence Index, Miss Funlola Modie said, ”NOI polls has also concluded the Eagle 30 business confidence Survey biannually for a 5 year period of 2009, 2010, 2011, 2012 and 2013. the eagle 30 business confidence survey captures the opinions of C-level executives from 30 leading companies in Nigeria and provides information about the existing business environment and short term business outlook”.

She also explained that in the aspect of personal well-being Index, her organization started monthly polls for its January 2013 index where seven indicators were used to measure the PWB. “‘ These were Standard of Living, Health, achievement in Life, Personal Security, Social Interaction, Religion and Economic Situation”. she stated.

In his contribution, the Director of Research of NOI Polls Ltd Dr. Boll Ihua said that the quarterly analysis of the Power and energy sector for 2013, shows that power supply was best over the 1st quarter with an average of 41percent and worst over the 2nd and 4th quarters with an average of 33percent.

”In the area of the telecoms, 40percent of Nigerians use dual lines [down from 455 in 2012 telecoms survey], 37 percent use single lines [up from26% in 2012 Telecoms survey], 16% use 3 lines[down from 19% in 2012 Telecoms survey], 7percent more than 3lines.”. For the Oil and Gas sector,

Dr. Ihua explained that in 2013, an average of 62 percent of Nigerians purchased petrol at the official pump price of N97 while and average of 38percent purchased petrol above the official pump price.

Speaking on what the organization stood for, Dr. Boll Ihua stated that NOI Polls is the No.1 for country-specific polling services in the West African region,. ”We partner with Gallup USA to develop opinion, research in Nigeria, We deliver forward– thinking research and relevant data on public opinion and consumer market on a range of topics”.

According to him, the organization was established seven years ago but began operations just six years ago.

Meanwhile, the VOIPolls has admitted that it is only complementing the efforts of the National Bureau of Statistics, NBS, on data collations rather than being in competition with the agency as claimed in some quarters.

Source: Vanguard

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