Index methodology

Consumer Confidence Index

How secure Nigerian households feel about their money, the naira and the year ahead.

What the Consumer Confidence Index measures

The Consumer Confidence Index measures how optimistic Nigerian households are about the economy and their own finances. It gives economists, journalists, lenders and retailers one scale for household mood that can be compared month to month and state to state.

The index runs on a 0 to 100 scale with 50 as the neutral point. Higher means a more positive reading.

Components

Current economic conditions

How households rate the economy today.

Expected economic conditions

What households expect over the next twelve months.

Current personal finances

Whether household income covers essentials.

Expected personal finances

Expected change in household income and savings.

Major purchase intentions

Plans to buy housing, vehicles, appliances or equipment.

Three inputs, reported side by side

1. Nigeria Pulse conversation signal

Nigeria Pulse tracks daily conversation on Nigerian platforms about the naira, food and fuel prices, wages and jobs. The share of positive and negative economic talk gives a continuous direction-of-travel signal between field releases. It is a conversation signal and is labelled as one.

Explore Nigeria Pulse

2. Official data from named institutions

National Bureau of Statistics (NBS): Consumer price index and inflation releases, labour force statistics.
Central Bank of Nigeria (CBN): Official exchange rate series and Monetary Policy Committee communiques.
Debt Management Office (DMO): Government borrowing context published with each release.

Every official figure is shown with its institution and release year.

3. Field data from the phone sampling frame

Fieldwork runs on the NigeriaPolls nationwide random-digit-dial phone sampling frame of more than 11,000 Nigerian mobile numbers across all 36 states and the FCT. Respondents answer the five component questions on a five-point scale.

How the index is scaled and published

1
Rescale. Every input is converted to a 0 to 100 score against fixed floor and ceiling values that are published before the first release and not changed afterwards.
2
Combine. Components are combined with equal weights unless a release states otherwise. The weights and bounds are listed on the methodology page.
3
Publish. Each release states the field dates, question wording, response basis and sample size, and shows the field, official and conversation views side by side.
4
Revise. Any change to wording, bounds or weights is logged with a version note, so a series is never quietly rewritten.

How to cite

Cite each release with the index name, the release month and year, and the page address. Quote the sample size and field dates exactly as printed on the release.

NigeriaPolls, Consumer Confidence Index, release month and year. https://nigeriapolls.com/indices/consumer-confidence-index

Frequently asked questions

What does the Consumer Confidence Index measure?

It measures how optimistic or pessimistic Nigerian households are about the economy and their own finances, on a 0 to 100 scale where 50 is neutral.

How is the index built?

Five components are each rescaled to 0 to 100 against fixed published bounds and combined with equal weights. Official macroeconomic series and the Nigeria Pulse conversation signal are reported alongside the field component so readers can see all three views.

How do I cite the index?

Cite each release as: NigeriaPolls, Consumer Confidence Index, release month and year, https://nigeriapolls.com/indices/consumer-confidence-index.