This poll was conducted by the Centre for Public Policy Alternatives to investigate public opinion on key economic and political issues in Nigeria. The issues include the state of Nigerian currency (Naira), willingness to patronise local products, power supply, and presidential trips and appointments.
The main objective of this poll was to elicit responses on the effect of the fall in exchange rate of the naira to the dollar with regards to President Muhammadu Buhari stance on currency devaluation. Also, the poll sampled citizens’ opinion on the patronage of Nigeria-made goods, increase in electricity tariff, presidential trips and his appointments.
The poll was conducted in Lagos between 25th of February 2016 and 1st of March 2016. Data was collected through a structured questionnaire. Opinions were sampled at homes, workplaces, shops and other spaces. The data collected was coded and analyzed using Statistical Package for the Social Sciences (SPSS). A total of 148 responses were considered (97%) valid for the analysis and the results are likely to be accurate with a margin of error of ±9 percentage.
The survey respondents were 64.2% male and 35.8% female. In total, 62.8% of the respondents are between the age of 18years and 35years old. The age distribution was 18-24 (15.2%), 25-30 (28.3%), 31-35 (19.3%), 36-40 (13.1%), 41-45 (10.3), 46-50 (9.0%) and 4.8% are 50years and above. Majority of the respondents (81.6%) have tertiary education, 16.3% have secondary education, 1.4% have primary education and 0.7% have no schooling at all. 33.3% of the respondents earn less than ₦50,000 monthly, 29.1% earn between ₦51,000 and ₦100,000, 12.1% earn between ₦101,000-₦150,000 and 25.5% of the respondents earn more than ₦150,000 naira monthly. Other finding from this poll is detailed in this report.
Does the continual fall of the naira affect your COST OF LIVING?
- In light of the continual fall in value of the naira, at least 8 in every 10 of the sampled Nigerians in Lagos (85%) disclosed that the fall in the value of the naira directly affects their cost of living.
- It should be noted that the Central bank of Nigeria (CBN) fixes the value of naira to a dollar at ₦197 per $1 but naira is sold at ₦370 to $1 at the parallel market as at 17th of February 2016 and the situation has not changed much.
Does the continual fall of the naira affect your cost of living?