Abuja, Nigeria. May 12th, 2015 – A poll commissioned by BusinessDay Media and conducted by NOIPolls Limited in March 2015 revealed that 90 percent of Nigerians, who buy petrol, purchase at a price above the official rate of ₦87; with the current average price of petrol per litre across Nigeria being ₦114. The North-East zone recorded the highest average price per litre at ₦129. Though the Federal Government recently announced the full payment of all outstanding subsidy debt owed to the marketers, the long queues at filling stations across the nation still remains unending. More findings revealed a high awareness rate (72 percent) of the fuel scarcity across the nation; although a considerable proportion of Nigerians in the South-East zone (47 percent) showed no awareness of the crisis, suggesting a less severe occurrence of the fuel scarcity in that zone. An evaluation of the effect of the fuel scarcity on Nigerians revealed that 82 percent of respondents, who are aware of the fuel crisis, reported that they have been directly affected by the situation. Nigerians in this category have mostly suffered an ‘increase in transport fare’ (48 percent) as a direct effect of the fuel crisis; while reporting ‘waste of time on queues’ (17 percent) and ‘increase in expenses’ (17 percent) as other direct effects of the fuel scarcity. These were the key findings from the Fuel Scarcity poll conducted in March 2015. Brief Background Fuel scarcity has been a recurrent issue in Nigeria with another round experienced at the end of the first quarter of 2015. In line with this, long queues of motorists resurfaced at filling stations across the nation as importers of the product were said to be handicapped by the delay in the payment of their subsidy arrears.[1] As such, the fuel scarcity has inflicted hardship on motorists, and commuters who are sometimes left stranded at major bus stops and motor parks, while fares have been increased to certain destinations. In addition, some of the petrol stations have increased their pump price from the official price of 87 Naira per litre to 100 Naira and above[2] In the midst of this, the Nigerian National Petroleum Corporation, NNPC, urged motorists to stop panic buying of fuel, while giving assurance of the release of a huge volume of the product into the market by the Petroleum Pipelines and Marketing Company, PPMC; putting the current stock of petrol in its depots across the country at 1.9bn litres.[3] Against this background, NOIPolls Ltd on behalf of BusinessDay Media conducted a poll to seek the perceptions of Nigerians regarding the recent petrol scarcity. The poll sought to measure the level of awareness of Nigerians on the situation, its direct impact on Nigerians and impact on the pricing of the product. Survey Findings Respondents to the poll were asked five specific questions. To ascertain the awareness of Nigerians on fuel scarcity, respondents were asked: Are you aware of the recent fuel scarcity that has been going on over the past three weeks? Findings revealed that the overall majority of respondents (72 percent) are aware of the recent fuel crisis across the nation. This cuts across gender, age-group and geo-political zones. However, the South-East zone accounted for the highest proportion (47 percent) of respondents who showed no awareness of the crisis. This therefore suggests a less severe occurrence of the fuel scarcity in that zone. To evaluate the effect of the fuel scarcity on Nigerians, respondents who showed awareness of the fuel scarcity (72 percent of the total) were asked: In your opinion, has the fuel scarcity directly affected you? Overall, 82 percent of respondents who showed awareness of the crisis reported they have been directly affected by the fuel scarcity. This cuts across all geo-political zones, age-group and gender. In a different light, some respondents (18 percent) confirmed they have in no way been directly affected by the fuel scarcity. These respondents may be dependents or not involved in economic activities that involves daily transportation. Subsequently, to gain insight on the sort of effects the fuel scarcity has had on Nigerians, respondents who reported they have been affected by the fuel scarcity (82 percent of the total) were asked: In your own words, in what way has the fuel scarcity affected you? Findings revealed that Nigerians have mostly suffered an ‘increase in transport fare’ (48 percent) as a direct effect of the fuel crisis. Respondents also mentioned ‘waste of time on queue’ (17 percent) and ‘increase in expenses’ (17 percent) amongst other effects of the petrol scarcity. Further analysis based on geo-political zones revealed that the majority of Nigerians across all geo-political zones have been affected by ‘increase in transport fare’; however, this is mostly true for respondents from the North-Central (59 percent) and North-East (57 percent) zones. Subsequently, respondents were asked: Presently do you buy fuel? Findings revealed that three-fourth of the respondents (75 percent) buy petrol and this cuts across age, gender and geo-political zones. 25 percent of respondents reported they do not buy petrol, however this is not to say that they have not felt the impact of the fuel scarcity. Finally, with the aim of gauging the effect of scarcity on petrol pricing, respondents who buy petrol (75 percent of the total) were further asked: How much do you currently buy a litre of petrol? Responses to this question revealed that the vast majority of Nigerians (90 percent) who buy petrol, purchase it above the official rate of ₦87, at an average of ₦114 per litre. Analysis by geo-political zone revealed that the vast majority of respondents across all geo-political zones currently buy petrol above the official price, although the North-East zone recorded the highest average price per litre at ₦129. In conclusion, findings from the poll revealed that the overall majority of respondents (72 percent) are aware of the recent fuel crisis across the nation and 82 percent reported they have been directly affected by the situation. More findings revealed that Nigerians have mostly suffered an ‘increase in transportation fare’ (48 percent) ‘waste of time on queue’ (17 percent) and ‘increase in expenses’ (17 percent) as direct effects of the fuel crisis amongst others. In addition, 75 percent of the respondents buy petrol, and of this proportion, the vast majority (90 percent) buy petrol at a price above the official rate of ₦87, with an average of ₦114 per litre. Survey Methods The opinion poll was conducted in the week of March 24th 2015. It involved telephone interviews of a random nationwide sample. 1,500 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 3%. About NOIPolls NOIPolls Limited, No1 for country specific polling services in West Africa, works in technical partnership with the Gallup Organisation (USA). 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 About BusinessDay Media BusinessDay, established in 2001, is a daily business newspaper based in Lagos, Nigeria. It is the only Nigerian newspaper with a bureau in Accra, Ghana. BusinessDay Media Ltd is the leading medium for up-to-date news and insightful analysis of business, policy and the economy in Nigeria, a critical decision-making tool for investors and managers. It provides unbiased news and informed analysis on politics, governance, social and economic trends. Disclaimer This press release has been produced by NOIPolls Limited and authorized for release by BusinessDay Media on the NOIPolls media platform to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://www.punchng.com/business/business-economy/pppra-cuts-petrol-imports-by-50-scarcity-worsens/ [2] http://www.channelstv.com/2015/03/02/fuel-scarcity-spreads-across-lagos/ [3] http://www.today.ng/news/nnpc-urges-nigerians-to-avoid-panic-buying-stock-piling-of-petrol-during-the-elections/

Abuja, Nigeria. 31st January, 2017 –Latest public opinion poll results released by NOIPolls Limited have revealed that in quarter 4 2016, Nigerians turned to Multi-level Marketing and Ponzi schemes to cushion the effects of the economic downturn as 68 percent disclosed their participation or that of someone they know in such schemes. Among all the various schemes in the country, MMM seems to have more awareness (59 percent) and the quest to quickly find an alternative means of livelihood which was welcomed by the wave of economic uncertainties in the country would have informed this level of awareness and participation. As the recession bit harder in Q4 2016, coupled with the high inflation rate, citizens were left with no other option than to embrace such financial schemes introduced to them mostly by friends (65 percent), especially as it portrayed the potential to turn out quick and high interest returns on investments. More findings revealed that while quick turnover (55 percent) and poverty (26 percent) were the major reasons most Nigerians chose to participate in the scheme and despite all the efforts of the various agencies of government to discourage the participation of Nigerians in what it describes as a dangerous scheme, the calls fell on deaf ears as participation in the scheme increased by the day, 38 percent of Nigerians opined that the scheme is unreliable. These were the key findings from the Social Financial Networks poll conducted in the week of December 9th, 2016. Brief Background 2016 appeared to be a particularly tough year in Nigeria hence, some Nigerians participated in the social financial schemes in quarter 4 2016, with the hope to cushion the effects of the harsh economic realities. Social financial schemes are platforms where people of like minds and same thoughts come together for the sole purpose of providing mutual funds aid to each other. There are several social financial schemes on the rise in Nigeria such as Mavrodi Mondial Moneybox popularly known as MMM Nigeria,Ultimate Cycler, iCharity, Zarfund, Helping Hands, Givers Forum, just to mention a few[1] and their proliferation could be connected to the present economic realities in Nigeria. Therefore, whatever form such social financial schemes take, so long as it has the potentials to provide extra income, Nigerians would embrace it. Among the many platforms that offer such opportunity of monetary turnover, MMM seems to be most embraced despite the warnings issued by the Securities and Exchange Commission (SEC) in Nigeria to citizens in August 2016 to not engage in their activities, declaring it a Ponzi scheme which pays returns from the invested funds of others.[2] By mid-December 2016, the scheme suspended all its participants account temporarily, citing heavy workload on the platform and claimed to be restructuring the site to accommodate growth. It returned in mid- January with new rules regarding withdrawals of confirmed accounts.[3] In view of this, NOIPolls conducted a survey to ascertain the awareness and views of Nigerians regarding Social Financial Schemes with a special focus on MMM to guage the perceptions of Nigerians regarding its reliability and the level of their participation in the scheme. Survey Findings The findings revealed that MMM ranked highest in awareness with a larger proportion (59 percent) of the respondents acknowledging they have heard about the scheme and this cuts across the four geo-political zones except the North-East and the North-West, which ranked low in awareness level. Further findings showed that respondents aged between 18 – 35 years had the highest level of awareness (66 percent) and this statistics could be associated with the fact that this is the most adventurous and active age group in the society. Also, unemployment amongst this age group is very high, therefore, pushing the youths to discover other sources of financial breakthrough to survive.[4] In addition, Ultimate Cycler proved to be another social financial scheme which some Nigerians (11 percent) are familiar with. Other mentions includes Helping Hands (6 percent), iCharity (4 percent) and Givers forum (3 percent) among other schemes. On the contrary, 53 percent of the respondents claimed not to have heard about any of these social financial schemes. The survey revealed that out of the 59 percent of the respondents who acknowledged being familiar with the MMM scheme, a larger proportion (65 percent) disclosed that they heard about the scheme from a friend. It is also interesting to note that 20 percent asserted that they got to hear about the MMM scheme through the social media while, 13 percent attested to hearing about the scheme from their colleagues, among other sources. Subsequently, the survey sought to gauge the level of involvement of Nigerians in the scheme and 68 percent of the respondents surveyed indicated that they participate or know someone who participates in the scheme. Conversely, 32 percent of the respondents claimed that they do not participate or know anyone that participates in the scheme. The poll also revealed that 38 percent of the respondents believe that the scheme is reliable whereas 38 percent think the scheme is not realiable. This represents an equal and opposite view as 24 percent of the respondents were neutral. Lastly, quick turnover (55 percent), which forms the majority, and poverty (26 percent) were the top reasons most Nigerians participated in the scheme. The South-West zone had the larger proportion of Nigerians who stated quick turnover while the South-East zone accounted for the highest fraction of the respondents who asserted that it is as a result of poverty. Other mentions includes unemployment (7 percent), greed and desperation (6 percent each). In conclusion, the poll results have revealed that some Nigerians are aware of some social financial schemes. The MMM scheme presented the highest level of awareness (59 percent) among all other schemes and 65 percent of this proportion reported hearing about the scheme from a friend while 20 percent stated social media. More findings revealed that the dominant age in terms of participation in the scheme are between the ages of 18-35 years which makes up the young adult population, hintng that soaring unemployement rates may have also been a contribtuing factor, therefore, there is need to urgently creating more jobs for people within this age category. Also, 38 percent think the scheme is unrealiable and this shows that those who invest in it are still wary of being duped but could not help it, due to the country’s economic hardship. Finally, quick turn over (55 percent) and poverty were the major reason people participated in the scheme therefore, the government of Nigeria should consolidate its concerted efforts to create conducive and enabling environment for businesses to thrive in the country. Survey Methods The opinion poll was conducted in the week of December 9th 2016. It 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 3%. Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://sunnewsonline.com/mad-rush-for-new-ponzi-schemes/ [1] http://sec.gov.ng/?s=MMM [1] http://www.vanguardngr.com/2016/12/breaking-panic-confusion-grip-nigerians-mmm-freezes-confirmed-accounts/ [1] http://mmm-nigeria.net/ [1] http://sunnewsonline.com/mad-rush-for-new-ponzi-schemes/ [2] http://sec.gov.ng/?s=MMM [3] http://www.vanguardngr.com/2016/12/breaking-panic-confusion-grip-nigerians-mmm-freezes-confirmed-accounts/ [4] http://mmm-nigeria.net/

Abuja, Nigeria. September 6th, 2016 –The Portfolio of Indices report released by NOIPolls Limited for Q2, 2016 has revealed that the NOIPolls Personal Well-Being Index (PWBI), which assesses how Nigerians feel about their lives, declined by 0.6-points to stand at 63.9-points. This indicates a decline in the satisfaction of Nigerians with their well-being. A detailed analysis of the individual indicators that make-up the PWBI revealed that while Nigerians were still very much satisfied with their religion (89.2-points) and Level of Social Interaction in the society (78.4-points), Nigerians expressed further dissatisfaction with Standard of living (48.3-points) and Personal economic situation (38.9-points), even as these indices experienced the highest decrease of 2-points each in Q2, 2016. This decline may be an effect of recent reports of massive layoffs of workers as several companies are trying to cut costs so as to remain in business. Also, the Consumer Confidence Index (CCI) further decreased by 3.5-points to stand at 56.4-points in Q2, 2016 when compared with the result (59.9-points) obtained from Q1, 2016. The CCI depicts how the purchasing power of Nigerians affects the general economy of the Nation. Therefore the decrease recorded in the CCI in Q2, 2016 revealed that there is a reduction in consumer spending, hence reduction in revenue generation in the economy. News reports revealed that some state Governments have been experiencing difficulties in paying salaries and had to seek for bail out, contributing to the perceived reduction in consumer spending in such states and in the country at large.[1] These are some of the key highlights from the Q2 2016 Portfolio of Indices Press Release. 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 their perceptions and micro assessment of consumers’ expectations 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 Q2, 2016 results for the NOIPolls Personal Well-Being Index (PWBI) and NOIPolls Consumer Confidence Index (CCI). The NOIPolls Personal Well-Being Index (PWBI) The NOIPolls Personal Well-Being Index (PWBI) contains seven items of satisfaction, each one corresponding to the different aspects of life. In Q2 2016, the NOIPolls Personal Well-Being Index (PWBI) experienced a further decline of 0.6-points to stand at 63.9-points. The Economic Index and the Standard of living index experienced the greatest decline of 2-points each in Q2, 2016. This is indicative that Nigerians were not contented with their well-being. Additionally, the sub-components of the indices that make up the PWBI shows that Nigerians were pleased in terms of Physical Health (76-points), Social Interaction (78.4-points), and Religion (89.2-points). Consequently, the results from Achievement in Life (51.7-points) and Personal Security (65.6-points) revealed thatNigerians were somewhat neutral in terms of those indices, while Nigerians were not satisfied with their Personal Economic Situation (38.9-points) and Standard of Living (48.3-points). This implies that the Economic Index has remained the lowest ranked indicator in Q1 and Q2, 2016. The data trend also shows that the Health, Social and Religion Indices experienced an increase of 0.2-points, 0.3-point and 1.9-points respectively in Q2, 2016. In-depth analysis of the monthly findings revealed that the NOIPolls PWBI was highest in March at 65.9-points and lowest in April at 61. 95-points when compared to other months in the first half of 2016. The NOIPolls Consumer Confidence Index (CCI) The NOIPolls Consumer Confidence Index in Q2, 2016 decreased by 3.5-points to stand at 56.4-points. This decrease indicates a reduction in the satisfaction of Nigerians with their current situation. There are two sub-components of the NOIPolls Consumer Confidence index; the Present Situation Index (PSI) and Expectation Index (EI). The PSI decreased by 7.7-points to stand at 20.9-points, while the Expectation Index (EI) also dipped by 0.2-point to stand at 82.9-points in Q2, 2016. The decrease observed in these two independent variables indicates that the buying power of Nigerians has further weakened when compared to Q1, 2016. Trend analysis revealed that the overall CCI decreased by 3.5-points in Q2, 2016 when compared to Q1, 2016. In conclusion, current findings have shown that the NOIPolls PWBI declined by 0.6-points to stand at 63.9-points, whereas, the individual indicators that make-up the PWBI revealed that the Standard of living and Economic indices had the highest decrease of 2-points each in Q2, 2016. Furthermore, the NOIPolls Consumer Confidence Index decreased by 3.5-points to stand at 59.9-points in Q2, 2016 which indicates that consumer’s ability to spend declined with respect to the falling economy of the nation. Therefore, it is imperative for the government to intensify its efforts at diversifying the economy and creating an enabling environment for investors. Financial experts have asserted that countries that experience robust GDP growth rates over time will attract investments, given that the private sector considers the GDP of a country when making investment decision. Survey Methods The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in Q2, 2016. The PWBI involved telephone interviews of a random nationwide sample. 3,000 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 3%. In addition the CCI involved telephone interviews of a random nationwide sample. 3,000 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 2%. NOIPolls Limited, No1 for country specific polling services in West Africa, works in technical partnership with the Gallup Organisation (USA). 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1]http://guardian.ng/opinion/resign-governors-who-cannot-pay-salaries/

Abuja, Nigeria. November 17th, 2015 – A poll conducted based on a partnership between NOIPolls Limited and BusinessDay Media has revealed that banked Nigerians have a positive perception (72 percent) towards the Bank Verification Number (BVN) introduced by the Central Bank of Nigeria (CBN) as they believe the BVN will improve ‘account security’ (29 percent), ‘control fraud/corruption’ (22 percent) and ‘monitor transaction and cash flow’ (11 percent) in nation’s banking sector, amongst other reasons. On the other hand, some Nigerians (28 percent) with opposite views indicated that the BVN is not important to them in any way because ‘they do not know the aim’ (78 percent) of the exercise, and that ‘it may enhance fraud’ (5 percent) among other reasons. More findings revealed that the vast majority (88 percent) of the respondents interviewed showed awareness of the BVN initiative, and 86 percent of banked respondents claimed that they have registered for the BVN with their respective banks, while 14 percent of the respondents haven’t complied with the policy and the majority of respondents in this category mostly indicated they ‘haven’t had time’ (61 percent) to do so, while 9 percent claimed they were discouraged by the long queues in banks during the exercise. Still on compliance to the BVN policy, 47 percent of respondents who have registered for a BVN confirmed they have linked their BVN with their other bank accounts, whereas some respondents who have registered for the BVN have either not completely linked it to all their other accounts (17 percent) or have not linked it to their other accounts at all (7 percent). This finding supports the report from the Nigeria Interbank Settlement System (NIBSS), which disclosed that only 14.4 million BVNs have been linked to other bank accounts out of the total of 21 million BVN holders in the country.[1] Finally, while some Nigerians have clearly indicated the importance of the BVN to them as banked citizens, it is pertinent that more sensitization programs are carried out by stakeholders, on the importance of the BVN in the Nigerian banking system. This should be done with special consideration given to Nigerians who have low access to information, in order to ensure complete compliance to the BVN policy. Brief Background Bank Verification Number (BVN) is a data system that captures bank customers’ biometrics, such as fingerprints, facial structures and signatures and provides unique identification for them and equally protects their accounts from unauthorized access, identity theft and fraud. Biometric identification has been embraced globally as a result of the incessant security breaches of the regular passwords and personal Identification numbers (PIN). The BVN was launched in Nigeria on the 14th of February, 2014 by the Central Bank of Nigeria (CBN) after meeting with banks in the country. The major benefit of the BVN, among others, is that it is a centralized biometric identification system which gives a matchless identity to each banks customer and can be accessible across all Nigerian Banks, hence identity and fraud is put to check. The initial deadline for BVN registration In Nigeria was June 30, 2015. The date was later extended to October 31, 2015 to ensure a smooth achievement of the registration process and to also accommodate the bank customers that were unable to meet up with the initial deadline. Customers in the diaspora were also given the opportunity to enrol by providing various outlets for them overseas where they can register. It was initially chaotic as a large number of people trooped to the banks, waited on long queues to be enrolled so as to beat the initial deadline, until it was extended till October 31, 2015 even as banks across country claimed to have registered about 21 million customers as at then. Recently, the CBN through its Director of Corporate Communications, Ibrahim Muazu directed all banks to continue the registration indefinitely and that the only restrictions on an account that is yet to be duly registered will be on ‘withdrawals’. Against this background NOIPolls Limited in partnership with BusinessDay Media conducted a poll to gauge the general perception of Nigerians regarding the BVN. Survey Findings To gauge the awareness of Nigerians on the introduction of the BVN, respondents were asked: Are you aware of the Bank Verification Number (BVN) introduced by the Central Bank of Nigeria (CBN) in February 14th 2014? The survey revealed that almost 9 in 10 (88 percent) Nigerians are aware of the introduction of BVN by the Central Bank of Nigeria, whereas 12 percent claimed that they are not aware. Further analysis by age-group indicates that the largest number of Nigerians who were not aware of the introduction of the BVN are 61 years and above. To ascertain the proportion of Nigerians who have registered for the BVN, respondents were asked: Have you registered for the Bank Verification Number (BVN)? It is worthy to note that this question was directed to banked respondents. Respondents who indicated they did not have an account with any bank had their interviews terminated at this point. The results showed that almost three-fourth of Nigerians (86 percent) claimed that they have registered their BVN with their respective banks, while 14 percent asserted that they have not registered for the exercise. Analysis by geo-political zones revealed that the North-East zone (18 percent) and North-West zone (20 percent) accounted for the largest ratio of Nigerians who have not registered for the BVN. Respondents who have complied with the BVN policy were further asked: Have you linked your BVN to your other bank accounts? The larger proportion (47 percent) of respondents in this category confirmed they have completely linked their BVN with all their other bank accounts, whereas 17 percent of the respondents have linked their BVN with only some of their bank accounts. On the other hand, 7 percent indicated that they have not linked their BVN with any of their other bank accounts, while 29 percent asserted that they only have one bank account. Further analysis on age-groups showed that those aged 61 years and above have the highest number of Nigerians who have only one bank account, while those between 46-60 years accounted for the highest share of Nigerians who have admitted to linking their BVN with their other bank accounts Subsequently, 13 percent of the respondents who have not complied with the BVN policy were further asked: Why have you not registered for the BVN? Majority, (69 percent) stated that they haven’t complied with the policy because they ‘haven’t had time’ to do so. Also, 9 percent claimed that they were discouraged by the ‘long queues in banks’ among other reasons. In addition, 12 percent revealed that they have not registered because ‘they have no money in their bank account’. More analysis by age-group revealed that all the respondents aged 61 year and above age group (100 percent) indicated that they have no money in their account, hence they did not register. Due to the increasing incidents of compromise on conventional security systems, there is a high demand for greater security for access to sensitive or personal information in the Banking System. In line with this, respondents who have their BVN were asked: In your opinion, do you think that the BVN is important to you in any way? The outcome revealed that a large proportion (72 percent) of Nigerians think the BVN is of importance to them and majority of respondents in this category were residents of the North-West zone (82 percent). Conversely, 28 percent stated that the BVN is not important to them in any way and a higher percentage of respondents (45 percent) in the section are residents of the South-East zone. Finally, respondents were asked to give their reason for or against the importance of BVN to them. Most respondents who indicated the BVN is of importance to them (72 percent of the total) stated reasons such as ‘account security’ (29 percent), ‘control of fraud/corruption’ (22 percent) and ‘monitoring of transaction and cash flow’ (11 percent) in banks amongst other reasons. On the other hand, Nigerians who responded negatively regarding the importance of the BVN (28 percent of the total) mainly indicated ‘they do not know the aim’ (78 percent) of the exercise. While other indicated that ‘it doesn’t make any difference to them’, some think ‘it may enhance fraud’ among other reasons. In conclusion, about 9 in 10 Nigerians are aware of the Bank Verification Number introduced by the Central Bank of Nigeria and 86 percent of respondents who are banked have registered with their respective banks. While this exercise is still on going, Nigerians have a positive perception (72 percent) of the BVN as they believe that the BVN will improve ‘account security’ (29 percent), ‘control fraud/corruption’ (22 percent) and ‘monitor transaction and cash flow’ (11 percent) in banks amongst other reasons. On the other hand, some Nigerians (28 percent) indicated that the BVN is not important to them in any way because ‘they do not know the aim’ (78 percent) of the exercise, and that ‘it may enhance fraud’ (5 percent) among other reasons. Survey Methods The opinion poll was conducted in week of 9th November 2015. It 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 2.5%. 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. About BusinessDay Media BusinessDay, established in 2001, is a daily business newspaper based in Lagos, Nigeria. It is the only Nigerian newspaper with a bureau in Accra, Ghana. BusinessDay Media Ltd is the leading medium for up-to-date news and insightful analysis of business, policy and the economy in Nigeria, a critical decision-making tool for investors and managers. It provides unbiased news and informed analysis on politics, governance, social and economic trends. Disclaimer This press release has been produced by NOIPolls Limited and authorised for release by BusinessDay Media on the NOIPolls media platform to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://punchng.com/6-6-million-bvns-not-linked-to-accounts-nibss/

Abuja, Nigeria. 18th August 2015 – Power poll results released by NOIPolls Limited for the second quarter of 2015 revealed that the average cumulative power supply received per day by Nigerian households within a 27-month period (April, 2013 to June, 2015) was below 6 hours per day. The implication of this indicates that individuals are relying and spending more on alternative sources of power to ensure efficiency in the running of their homes and businesses. More findings revealed that despite the reforms carried out in the power sector by the government, Nigerians are still facing erratic power supply as the monthly average cumulative hours received ranged from 3.9 – 8.2 hours per day; with 17 Percent of the entire population not receiving electricity at all in the period in view. Nigerian households receiving such low periods (hours) of power supply in the 21st century is indicative of a deficiency in infrastructural development that goes beyond theoretical reforms and unbundling of assets, while also emphasizing the urgent need for an entire overhaul of the sector. A direct effect of this poor power supply can be seen in the massive number of Nigerians (77.5 Percent) who have resorted to purchasing and using alternative sources of power (such as generators, inverters, and solar panels) for residential and business purposes. This has also created an additional strain on the financial burden of these households as these alternative sources are usually more expensive to maintain as opposed to direct power supply from DISCOs. Moreover, findings from previous NOIPolls power reports have shown that Nigerians typically spend between ₦3,302 – ₦3,726 on actual electricity supply while spending between ₦7,866 – ₦12,351 in running alternative sources of power supply within a 15-month period from (April 2014 to June 2015). Brief background Owing to the lack of growth and capacity to meet demand of electricity consumers in Nigeria, the Federal Government initiated a series of reform projects and policies whose core objective was to ensure that Nigeria has an efficient electricity supply industry that could meet the needs of its citizens in the 21st century by providing all current and prospective economically justifiable demands for electricity throughout the country. Due to this lack of infrastructural development in the sector, as the last transmission line was built in 1987 and the youngest plant in 1990, average daily generation dwindled down to 1,750 MW leaving an estimated 90 million without access to grid electricity. Despite the attempted reforms of the power sector by the Federal Government, Nigeria has not been able to generate more than 4,500 MW of electricity for over 170 million people. This inability to meet current demand has led to a high rate of load shedding which has inevitably resulted in low power and complete absence (in some areas of the Country) of power supply experienced all around the nation With the aim of monitoring the progress made so far in the power sector reforms in Nigeria, NOIPolls introduced the Power Polls in 2013 to explore the perception of Nigerians towards the power sector reforms. The polls are conducted monthly to explore the amount of power supply received daily and expenditures made on power supply, as well as the state of power supply to households and its effect to consumers especially in the use of alternative sources of power and it financial implications. In conducting the power polls, respondents were asked 5 specific questions every month; one of these questions (centered on the cumulative hours of power supply) will be discussed in this release. The result presented is a 27-Month tracking of the usage of alternative sources of power supply by Nigerian households. For a full report, please contact NOIPolls on enquiries@noi-polls.com Key Findings Quarterly Average Cumulative Hours of Direct Power Supply Received by Consumers Nigerians were asked to state the number of hours of direct power supply they received in a day in their household over the past month. Findings revealed that from Q2 2013 to Q2 2015, the majority of Nigerian households received 1-4 hours of cumulative power supply, this proportion of Nigerians was highest in Q2 2014 (47 percent) and lowest in Q3 2014 (29 percent). In addition, 14 Percent of the population in Q2 2013 did not receive any electricity at all from DISCOs, and this proportion of Nigerians witnessed an all-time high of 21 percent in Q4 2014, quickly followed by Q3 2014, with 20 Percent. Conversely, the number of respondents who received 19-24 hours of light has remained almost the same, going from 5 Percent in Q2 2013 to 8 Percent in Q3 2014 and back to 5 Percent in Q2 2015. Further analysis revealed that even in the face of the ongoing reforms in the power sector, Nigerians are still suffering major black outs all over the nation as daily cumulative direct power supply keeps dropping. The average cumulative hours of power supply to Nigerians amounted to 4.9 hours in Q2 2015; this figure represents the lowest quarterly average cumulative hours of power supply received by Nigerians. On the other hand, the highest average cumulative hours of power supply received by Nigerians from Q2 2013 to Q2 2015 was recorded at 7.1 hours. Monthly Average Cumulative Power Supply Received Per Day To gauge the daily quantity of power supply received by Nigerian households, in hours, respondents were asked, “On the average, how many hours of cumulative power supply do you have in a day?” Generally, over a 27-month period (April, 2013 to June, 2015), the average cumulative hours of power supply received by Nigerian households ranged between 3.9 – 8.2 hours per day. These figures marked the lowest and highest monthly cumulative hours of power supply to Nigerian households recorded in May 2015 and September 2014 respectively. Moreover, the average cumulative hours of power supply received by Nigerians in the 27-month period was recorded at 5.8 hours. In conclusion, the results from the power polls conducted from Q1 2013 to Q2 2015 revealed that an average of 17 percent of Nigerian households did not receive any electricity from DISCOs, while majority received between 1-4 hours per day in a 27-month period (April 2013 to June 2015). The results further revealed that the highest average daily cumulative power supply Nigerian household received, within the same period in view was recorded 8.2 hours per day. In addition, a comparison of Q2 2013, Q2 2014 and Q2 2015 shows a visible regressive trend as daily cumulative hours of power supply dropped from 6.4 to 5.7 and to 3.9 respectively, despite the billions of Naira invested to resuscitate the sector. Survey Methods The opinion poll was conducted from April 2013 to June 2015. It involved telephone interviews of a random nationwide sample. 27,000 phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com

Abuja, Nigeria. March 15th, 2015 –The Portfolio of Indices report released by NOIPolls Limited for Q4, 2015. The NOIPolls Personal Well-Being Index (PWBI) aims to assess how Nigerians feel about their lives and it includes their emotional responses, overall satisfaction with life, and a general decision on their quality of life. The NOIPolls Personal Well-Being Index (PWBI) slightly decreased by 0.2-points to stand at 64.5-points in Q4 2015 inferring a slight decrease in the satisfaction of Nigerians with their overall well-being in Q4 2015. More findings revealed that among the indices that constitute the (PWBI) indicators, the ‘Personal Achievement’ Index and the Security Index were the only two variables that experienced an increase by 1.2-points and 0.6-point respectively. The NOIPolls Consumer Confidence Index (CCI) aims to measure the degree of optimism that Nigerian households’ have about the overall state of the economy, and their personal financial situation as confidence levels on income stability directly impacts upon spending activities making this one of the key indicators for the overall shape of the economy. The NOIPolls Q4 Consumer Confidence Index (CCI) revealed a decrease of 2.2-points to stand at 64.8-points from the 67-points recorded in the previous quarter. In addition, the two independent variables of the CCI; the Present Situation Index (PSI) and the Expectation Index (EI) both experienced a decrease of 4-points and 0.9-points respectively. These are the key highlights from the Q4 2015 Portfolio of Indices Press Release. 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 bird’s eye 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 services institutions and government agencies largely depend on these perceptions and the micro assessment of consumers’ expectations 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 general business environment in Nigeria. The NOIPolls Personal Well-Being Index (PWBI) The NOIPolls Personal Well-Being Index (PWBI) consists of seven parameters that measure the level of satisfaction on quality of life. The information garnered from this exercise aids in providing accurate key information on current and future economic trends and expectations. They also provide a true reflection on the current state of mind of Nigerians on economic issues while also highlighting their future expectations. A slight reduction by 0.2 point of the Personal Well-being Index to 64.5 points in this quarter indicates that Nigerians were somewhat satisfied with their well-being. Overall, sub-components of the indices that make up the PWBI revealed that Nigerians were satisfied in terms of Physical Health (74.6-points), Social Interaction (77.2-points), and Religion (87.6-points). Contrarily, the results from Achievement in Life (53.4-points), Standard of Living (52.6-points) and Personal Security (63.3-points) revealed that Nigerians were somewhat neutral in terms of these indices, while Nigerians were not satisfied with their Personal Economic Situation (42.8-points). The Economic Index experienced a slight decrease of 0.3-point in Q4, 2015 and it continually remained the lowest ranked indicator in 2015. Trend analysis revealed that the PWBI for Q4 2015 declined by 0.2-point and 1.6-points when compared to Q3 and Q1 respectively. Further analysis of the quarterly findings indicated that the NOIPolls PWBI experienced a decrease of 0.5-point in Q4 2015 when compared to the yearly average. The NOIPolls Consumer Confidence Index (CCI) The Consumer Confidence Index measures the levels of confidence individual households have in the overall performance of the economy. It is important because consumer spending drives a certain percentage of Nigeria’s GDP. Nonetheless, the NOIPolls Consumer Confidence Index in Q4, 2015 decreased by 2.2-points to stand at 64.8-points. There are 2 sub-components of the NOIPolls Consumer Confidence index; the Present Situation Index (PSI) and Expectation Index (EI). The PSI decreased by 4-points to stand at 41.9-points, while the Expectation Index (EI) also dipped by 0.9-point to 82-points in Q4, 2015. Trend analysis revealed that the overall CCI increased by 2.2-points in Q4, 2015 when compared to Q3, 2015. In conclusion, current results have revealed that the NOIPolls Personal Well-Being Index (PWBI) experienced a 0.2-point decrease in Q4, 2015. On the other hand, the NOIPolls Consumer Confidence Index declined by 2.2-points. Finally, the two independent variables of the CCI; the Present Situation Index (PSI) and the Expectation Index (EI) bothdeclined by 4-points and 0.9-points respectivelyin Q4, 2015. Since consumer spending is so important to the nation’s financial health, the Consumer Confidence Index should be one of the most closely watched economic indicators, as the index measures the optimism of Nigerians on the economy’s health. Survey Methods The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in Q4, 2015. The PWBI involved telephone interviews of a random nationwide sample. 3,000 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 3%. In addition the CCI involved telephone interviews of a random nationwide sample. 12,000 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 2%. 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com

Abuja, Nigeria. November 3rd, 2015 –The Portfolio of Indices report released by NOIPolls Limited for Q3, 2015 revealed that the NOIPolls Personal Well-Being Index (PWBI) which assesses how Nigerians feel about their lives, slightly increased by 0.2-points to stand at 45.3-points in Q3 2015. This slight increase suggests a slight increase in contentment level of Nigerians with their daily lives. More findings revealed that among the indices that constitute the PWBI, the Economic Index experienced the highest increase by 3.5-points; while the Health and Religion Indices both declined by 1.2-points, though they still record high points at 75.0-points and 89.0-points respectively. Comparatively, the NOIPolls Consumer Confidence Index (CCI) which measures the degree of optimism that Nigerian households feel about the overall state of the economy and their personal financial situation; increased by 4.7-points to stand at 67-points in Q3, 2015. This increase in consumer confidence could imply that Nigerians are expected to increase their purchases of goods and services. In anticipation of this change, manufacturers can increase production and stocks whereas, large organisations can increase employment rates. Government can expect improved tax revenues based on the increase in consumer spending. Therefore, it is advised that businesses, economic analysts, investors and the government should take advantage of the increase in consumer confidence, though with caution because the CCI can change following the release of the report.[1] Furthermore, the two independent variables of the CCI; the Present Situation Index (PSI) experienced an increase of 12.3-points to stand at 45.9-points while the Expectation Index (EI) decreased by 1.0-point to stand at 83.0-points. These are the key highlights from the Q3 2015 Portfolio of Indices Result Release. 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 their perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusion 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 Q3, 2015 results for the NOIPolls Personal Well-Being Index (PWBI) and NOIPolls Consumer Confidence Index (CCI). The NOIPolls Personal Well-Being Index (PWBI) In Q3 2015, the NOIPolls Personal Well-Being Index (PWBI) experienced a slight increase of 0.2-point to stand at 45.3-points. The Economic Index experienced the highest increase by 3.5-points in Q3, 2015 indicating that Nigerians are slightly contented with their personal well-being though the index is slightly below average. An assessment of the indicators that make up the PWBI revealed that Nigerians are pleased in terms of their Physical Health (74.8-points), Social Interaction (78.7-points), and Religion (88.6-points); while Nigerians are neutral in terms of their Achievement in Life (52.9-points), Standard of Living (53-points) and Personal Security (62.7-points). On a different note, Nigerians are not satisfied with their Personal Economic Situation (43.2-points). Although, this Index experienced the highest increase in Q3, 2015 by 3.5-points, it has continually remained the lowest ranked indicator in Q1, Q2 and Q3, 2015. Trend analysis of the indicators that make up the PWBI revealed that the Health and Religion Indices both experienced a decline of 1.2-points each in Q3, 2015 from Q2 2015. Quarterly trend analysis indicated that the NOIPolls PWBI experienced an increase of 0.2-point when compared to Q2 2015. Please clcik here to see the full PWB report The NOIPolls Consumer Confidence Index (CCI) The Consumer Confidence Index measures the level of confidence individual households have in the performance and overall health of the economy. It is important because consumer spending drives a certain percentage of Nigeria’s GDP. In view of this, the NOIPolls Consumer Confidence Index increased by 4.7-points to stand at 67-points in Q3, 2015. This slight leap suggests that consumers may have slightly increased their consumption in Q3, 2015. The NOIPolls Consumer Confidence index consists of 2 Sub-components; the Present Situation Index (PSI) and Expectation Index (EI). The PSI increased by 12.3-points to stand at 45.9-points; indicating an increase in consumption of goods and services by Nigerians and expectation of a better future. Investors are particularly advised to take advantage of an increase in consumer confidence as Nigerians at this point may purchase more goods and services. Conversely, recent data trend shows that the Expectation Index (EI) dipped by 1.0-points to 83-points in Q3, 2015. A high expectation for the future indicates that consumers will be more willing to spend more in coming months. Trend analysis revealed that the overall CCI increased by 4.7-point in Q3, 2015 when compared to Q2, 2015. Please click here to see the full CCI report In conclusion, current results have revealed that the NOIPolls Personal Well-Being Index (PWBI) experienced a 0.2-point increase in Q3, 2015. On the other hand, the NOIPolls Consumer Confidence Index increased by 4.7-points. Finally, the two independent variables of the CCI; the Present Situation Index (PSI) experienced an increase of 12.3-points while the Expectation Index (EI) decreased by 1-point in Q3, 2015. Survey Methods The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in Q3, 2015. The PWBI involved telephone interviews of a random nationwide sample. 3,000 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 3%. In addition the CCI involved telephone interviews of a random nationwide sample. 12,000 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 2%. NOIPolls Limited is the 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://www.investopedia.com/university/releases/consumerconfidence.asp

Abuja, Nigeria. March 31st, 2015 – A poll commissioned by BusinessDay Media and conducted by NOIPolls Limited in 2014 revealed ‘electricity’ as the top economic issue Nigerians want the government to address within the next 6 months as reported by majority (68 percent) of adult Nigerians surveyed. Other issues which Nigerians want the government to address in the next six months in order of priority include; ‘security’ (58 percent), ‘job creation’ (55 percent), ‘roads’ (49 percent), ‘education’ (42 percent), ‘health care’ (31 percent), ‘agriculture/food security’ (29 percent), ‘potable water’ (26 percent), ‘transportation’ (24 percent), and ‘corruption’ with 21 percent. Furthermore, ‘poor electricity supply’ has been identified as the most critical factor impeding growth of Nigerian businesses. Consequently, more than 6 in 10 Nigerians (63 percent) were of the opinion that the Federal government should be responsible for creating an enabling environment for businesses to thrive in the country. Finally, while Nigerians are in the final phase of the 2015 electioneering process, irrespective of whoever wins the election, it is imperative that the economic team focuses its attention on addressing these key issues that have been identified by Nigerians. To this effect, great consideration should be given to the engagement of top class professionals and experts in the sectors concerned, to articulate and implement strategies to tackle these issues which have long affected the Nigerian economy and the general wellbeing of Nigerians. These are the key findings from the Top Economic Issues in Nigeria poll conducted in 2014. Brief Background Nigeria is Africa’s most populous nation, with a GDP of $522.64 Billion from oil and non-oil sectors. Nigeria is rich in natural and human resources, to mention a few, it has the 6th largest gas reserves and the 8th largest crude oil reserves in the world. It is also endowed with about 37 solid mineral types and given this status; Nigeria’s economy is recognized to have great potential.[1] In reality, the reverse is the case for the Nigerian economy, as it has been characterized by continuous stagnation, thus, resulting in the deterioration of the wellbeing of the citizens and social instability. This also has undermined the general development of the country over the years, especially when compared with several other emerging Nations. Although recently, Nigeria has witnessed economic growth, as it was recently announced as the largest economy in Africa,[2] however the Nigerian economy is faced with several challenges which have negatively impacted overall economic activities of all sectors with direct effect seen in the untold pressures on citizens.[3] Against this background, NOIPolls Ltd conducted a poll on economic issues in Nigeria to identify the top ten economic most important issues that Nigerians want the government to address. Survey Findings Respondents to the poll were asked some specific questions. However, most importantly, to ascertain the top ten most pressing economic issues Nigerians want the government to address, respondents were asked: In your opinion, what are the top ten most important economic issues the government should address in the next 6 months? Responses to this question revealed that 68 percent of adult Nigerians believe that ‘electricity’ is the first most important economic issue the government should address within the next 6 months. Though Nigerians have admitted to witnessing improvement in Electricity over the past 6 months (which could be as a direct impact of the power sector reform), nevertheless high power outage still characterizes electricity supply, given that majority receive a daily cumulative of 1-4 hours of power supply, according to previous power polls conducted by NOIPolls in the first quarter of 2014[4]. Other economic issues which Nigerians want the government to address in order of importance according to respondents surveyed are as follows; ‘security’ (58 percent), ‘job creation’ (55 percent), ‘roads’ (49 percent), ‘education’ (42 percent), ‘health care’ (31 percent), ‘agriculture/food security’ (29 percent), ‘potable water’ (26 percent), ‘transportation’ (24 percent), and ‘corruption’ with 21 percent. These issues where were communicated by both gender, almost in the same order of importance and without significant differences in the proportion, except for ‘Agriculture/food security’ where more male (33 percent) than female (24 percent) respondents it as issue of importance. The North-West zone has the highest number (82 percent) of respondents who indicated ‘electricity’ as the top most important economic issues the government should address in 6 months. The North-East zone has the largest ratio (73 percent) of respondents who stated ‘security’, the South-South zone has the largest number (63 percent) who indicated ‘job creation’, while the South-East zone has the highest proportion (54 percent) who pointed ‘roads’ as the most important economic issues the government should address within the next 6 months. Respondents were asked: In your opinion, what tier of government should be most responsible for creating an enabling environment for businesses to thrive? In response to this question, more than 6 in 10 Nigerians (63 percent) think that the federal government should be responsible for creating an enabling environment for businesses to thrive. This is followed 20 percent of the respondents who believe it is the responsibility of the state government, while 17 percent of the respondents say it is the local government’s responsibility to create an enabling environment for businesses to thrive. From the geo-political zones perspective, the North-East zone has the highest proportion (79 percent) of respondents who think it should be the federal government; the South-South zone has the highest number (25 percent) of respondents who feel it is the state government, while the North-West zone accounted for the largest ratio (22 percent) of respondents who believe it should be the local government’s responsibility. Furthermore, respondents were also asked: What are the factors that impede growth of Nigerian businesses? The findings revealed that the slight majority (30 percent) of Nigerians listed ‘Poor electricity supply’ as the top most factors which impedes growth of Nigerian businesses. This is closely followed by ‘Insecurity’ with (29 percent), ‘corruption’ (23 percent) and ‘Poor roads’ (11 percent). In addition, respondents also indicated ‘lack of fund/loan’ (10 percent), as well as ‘inflation/price (7 percent) amongst other factors. The South-West zone accounted for the highest proportion (40 percent) of respondents who mentioned ‘Poor electricity supply’ as one of the factors that impede growth of Nigerian businesses. The North-East zone has the largest ratio (49 percent) who stated ‘Insecurity’ while the South-South zone has the highest (29 percent) respondents who indicated ‘corruption’. In addition, the South-East and the North-West zones have the largest number of respondents who indicated ‘poor roads’ and ‘lack of fund/loan’ with 27 percent and 17 percent respectively. In conclusion, an assessment of economic issues revealed that 68 percent of adult Nigerians believe that ‘electricity’ is the first most important economic issue the government should address. Other economic issues include: ‘security’ (58 percent), ‘job creation’ (55 percent), ‘roads’ (49 percent), ‘education’ (42 percent), ‘health care’ (31 percent), ‘agriculture/food security’ (29 percent), ‘potable water’ (26 percent), ‘transportation’ (24 percent), and ‘corruption’ with 21 percent. More findings revealeded that the slight majority (30 percent) of adult Nigerians listed ‘Poor electricity supply’ as the top most factors which impede growth of Nigerian businesses. This is closely followed by ‘Insecurity’ (29 percent) and ‘corruption’ (23 percent). Finally, 63 percent of the respondents believe that the federal government should be responsible for creating an enabling environment for businesses to thrive. Survey Methods The opinion poll was conducted in 2014. It involved telephone interviews of a random nationwide sample. 1,500 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 2.5%. NOIPolls Limited, No1 for country specific polling services in West Africa, which works in technical partnership with the Gallup Organisation (USA), to conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com. Disclaimer This press release has been produced by NOIPolls Limited and authorised for release by BusinessDay Media on the NOIPolls media platform to provide information on all issues which form the subject matter of the document. BusinessDay, established in 2001, is a daily business newspaper based in Lagos, Nigeria. It is the only Nigerian newspaper with a bureau in Accra, Ghana. BusinessDay Media Ltd is the leading medium for up-to-date news and insightful analysis of business, policy and the economy in Nigeria, a critical decision-making tool for investors and managers. It provides unbiased news and informed analysis on politics, governance, social and economic trends. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://www.tradingeconomics.com/nigeria/gdp-growth-annual [2] http://businessdayonline.com/2013/12/nigerias-economy-largest-in-africa-as-rebasing-boosts-gdp-to-405bn/#.U9X6bXkg_mI [3] http://www.africaeconomicanalysis.org [4] www.noipolls.com

The 2017 Manufacturing Sector Survey conducted by NOIPolls and CSEA has identified: Unfavourable foreign exchange rates (55 percent), Bad roads (55 percent), Unavailability of petrol and diesel (47 percent), Limited access to credit (45 percent), Policy inconsistency (44 percent), Lack of Infrastructure (39 percent), Unstable power supply (31 percent), and Weak demand (29 percent), as the top challenges facing the manufacturing sector in Nigeria. The survey report released to the public on Tuesday 12th September 2017 also found the following: 74 percent of manufacturing companies found the business environment unsupportive in 2017; and this finding represents a 14-point increase from the 2016 result (60 percent), indicating a worsening of the business environment. Similarly, lack of infrastructure, red-tapism and corruption were identified as some of the structural bottlenecks stifling the business environment. 85 percent of manufacturing companies surveyed are not operating up to 75 percent of their installed capacity; and this was attributed to weak demand (69 percent), poor power supply (58 percent), petrol/diesel unavailability (38 percent), limited access to foreign exchange (26 percent). Almost half of the companies interviewed (48 percent) considered importation of raw materials critical to their production; particularly medium to large manufacturing companies, with up to 62 percent of inputs imported. 75 percent of manufacturing companies say the disparity in foreign exchange rates has had negative impact on their operations. Similarly, 80 percent of the companies affirmed that inflation has had a negative effect on their businesses. All the manufacturing companies interviewed affirmed that the recession had impacted their business operations and profitability; with 70 percent stating that the recession had impacted their businesses negatively. On the issue of Bad Roads, the survey found the South-West (59 percent), South-South (49 percent), North-Central (46 percent) and South-East (43 percent) regions were the most affected regions with poor state of roads. In particular, manufacturers lamented the poor state of some roads such as: Apapa-Tin Can Access road, Lagos-Ibadan express road, Benin-Ore road, Oyo-Ogbomosho (in South West), East-West road, Benin-Agbor road, Aba-Portharcourt road (South-South), Ajaokuta-Ayangba-Nsukka road, Lokoja-Ajaokuta road, Obajana-Okene road, Makurdi-Enugu road (North-Central and South-East) amongst others. Survey Methods NOIPolls, in partnership with, the Centre for the Study of the Economies of Africa (CSEA) conducted the 2017 Manufacturing Sector Survey. A total of 496 companies across 12 states (two per geo-political zone) were interviewed between the months of February and May 2017. The states are – Lagos and Ogun (South West), Rivers and Delta (South South), Anambra and Abia (South East), Kano and Kaduna (North West), Bauchi and Adamawa (North East) and Plateau and Abuja (North Central). The survey involved administering of close-ended questionnaire on the target respondents within manufacturing companies, selected from the sampling frame of a database of small, medium and large manufacturing companies developed by NOIPolls. The target respondents for the survey were Manufacturers, Owner-Managers, General Managers, Directors, C-level Officers and decision makers within the companies. Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. Press Contact The Editor Email: editor@noi-polls.com

Abuja, Nigeria. July 16th, 2015 –The Portfolio of Indices report released by NOIPolls Limited for Q2, 2015 revealed that the NOIPolls Personal Well-Being Index (PWBI) decreased by 1.1-points to stand at 45.1-points.More findings revealed that all theindicators that constitute the PWBI experienced a decline except the security index that increased by 1.2-points. Comparatively, the NOIPolls Consumer Confidence Index (CCI) increased by 2.5-points to stand at 62.4-points in Q2 2015. In addition, the Present Situation Index (PSI) and Expectation Index (EI) both experienced an increase of 0.3-points and 4.1-points to stand at 33.6-points and 83.9-points respectively. This implies that while there is a slight increase in the confidence of Nigerians on their present situation, they are optimistic about their future. This position may have been impacted by the expectations of Nigerians on what the new administration would bring to the table inorder to improve the general wellbeing of Nigerians. These are the key highlights from the Q2 2015 Portfolio of Indices Press Release. 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 their perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusion 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 Q2, 2015 results for the NOIPolls Personal Well-Being Index (PWBI) and NOIPolls Consumer Confidence Index (CCI). The NOIPolls Personal Well-Being Index (PWBI) The NOIPolls Personal Well-Being Index (PWBI) in Q2, 2015 experienced a decrease of 1.1-points to stand at 45.1-points. Analysis of the individual indicators that make up the PWBI revealed differences in the assessment of Nigerians on several attributes of their lives. Nigerians are mostly contented in terms of their Health (76-points), Social Interaction (80-points), andReligion(89.8-points). Nigerians are somewhat neutral in terms of Achievement in Life(52.9-points), Standard of Living (51.5-points) and Personal Security (61.5-points), while Nigerians are not satisfied with their Personal Economic Situation (39.7-points). The Economic Situation Index has remained the lowest ranked indicator both in Q1 and Q2, 2015. Trend analysis revealed that all the indicators that constitute the PWBI experienced a decrease in Q2 2015 except the Personal Security Index with an increase of 1.2-points More findings from quarterly trend analysis revealed that the NOIPolls PWBI experienced a decrease of 1.1-points when compared to Q1. Please click here to see the full PWB report The NOIPolls Consumer Confidence Index (CCI) The NOIPolls Consumer Confidence Index in Q2, 2015 increased by 2.5-points to stand at 62.4-points. This increase indicates a slight increase in the satisfaction of Nigerians with their current situation. The NOIPolls Consumer Confidence Index is made-up of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). The PSI increased by 0.3-points to stand at 4.1-points implying that Nigerians are not satisfied with their present economic situation however, they expect a better future. Trend analysis revealed that the overall CCI increased by 2.5-point to stand at 62.4-points in Q2, 2015 when compared to Q1, 2015. Please click here to see full CCI report In conclusion, current results have revealed that the NOIPolls Personal Well-Being Index (PWBI) for Q2 decreased by 1.1-points to stand at 45.1-points. All the indicators that make up the PWBI experienced a decrease except the Security Index which increased by 1.2-points in Q2, 2015. Conversely, the NOIPolls Consumer Confidence Index increased by 2.5-points to stand at 62.4-points. Further findings revealed that the Present Situation Index (PSI) and Expectation Index (EI) both increased by 0.3-points and 4.1-point respectively in Q2, 2015. Survey Methods The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in Q2, 2015. The PWBI involved telephone interviews of a random nationwide sample. 3,000 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 3%. In addition the CCI involved telephone interviews of a random nationwide sample. 12,000 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 2%. NOIPolls Limited, No1 for country specific polling services in West Africa, works in technical partnership with the Gallup Organisation (USA). 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com

Abuja, Nigeria. May 19th, 2015 – A poll commissioned by BusinessDay Media and conducted by NOIPolls in January 2015 revealed that slightly more than half (52 percent) of the respondents surveyed believe that Nigerians have not enjoyed the full benefit of petrol subsidy. This perception may be guided by the fact that a larger proportion of Nigerians purchase petrol at a price above the subsidized rate of ₦97.[1] More findings revealed that ‘corruption’ is perceived to be the key factor hindering Nigerians from enjoying the full benefits of petrol subsidy as reported by the majority of respondents (66 percent) and this cuts across gender and geo-political zone. Given this set back, a significant proportion (42 percent) of Nigerians (especially from the South-East zone) would support the full removal of the fuel subsidy to a great extent. On the other hand, a slightly larger proportion (44 percent) would not support the full removal of petrol subsidy by the government; this stance was mainly maintained by residents from the North-East and North-West regions. An evaluation of the awareness and perception of Nigerians on the drop in global crude oil prices revealed that majority (71 percent) of Nigerians who buy petrol are aware of the drop in the price of crude oil by 50% worldwide. As a result of this drop, almost all the respondents (94 percent) who purchase petrol believe there should be a corresponding drop in the price of petrol in Nigeria to reflect the drop in the price of crude oil worldwide. In line with this, the price of petrol dropped by ₦10 bringing the official price of petrol to ₦87 per litre as announced by the Government in January 2015. In spite of this, the majority of Nigerians suggest petrol price should drop to a price ranging from ₦50 – ₦70 (an average of ₦59), to correspond with the drop in the price of crude oil worldwide. These are the key findings from the Consumer Perception on Petrol Price and Susidy poll conducted in January 2015. Brief Background After the announcement of the partial removal of fuel subsidy by the Federal Government of Nigeria on 1st of January 2012, Nigerian filling stations were mandated to sell petrol to consumers at the official price of ₦97. While this price reflects partial subsidy, surveys conducted by NOIPolls from 2013 to 2014 to monitor the price of petrol revealed that a high proportion of Nigerians purchase petrol above the official price,[2] thus questioning the benefit of the fuel subsidy to Nigerians. However, following the recent drop in the price of crude oil in the global market from an averaged $62 in December 2014 to an averaged $50 per barrel in the first half of January 2015, the Federal Government, through the Petroleum Products Pricing Regulatory Agency (PPPRA), announced a reduction in the pump price of petrol to ₦87 from the previous ₦97. This was said to have been possible after the PPPRA made a consistent and diligent monitoring of the trend, since the beginning of the drop in crude oil price. In line with this a number of Nigerians, through the media have argued that the price of crude oil reduction in the global market has reduced by 50% and as such the pump price of petrol in Nigeria should reduce in the same ratio. Against this background, NOIPolls Ltd on behalf of BusinessDay conducted a poll to seek the perceptions of Nigerians regarding petrol price and subsidy, the drop in crude oil price and its effect on the overall price of petrol. Survey Findings Respondents to the poll were asked seven specific questions and this section of the report presents findings from each question. The questionnaire was administered to only petrol customers thus respondents were asked if they buy petrol. Those who do not buy petrol had their interview terminated at this point, while respondents who purchase petrol continued the interview. To gauge the perceptions of respondents on whether Nigerians have benefited from petrol subsidy, respondents were asked: In your opinion, do you think Nigerians have enjoyed the full benefit of petrol subsidy? Findings revealed that slightly more than half (52 percent) of respondents surveyed believe Nigerians have not enjoyed the full benefit of the petrol subsidy; this perception was highest among respondents whose ages range from 22-60 years. This perception may be guided by the fact that several Nigerians purchase petrol at a price above the subsidized rate of ₦87 as previously established by NOIPolls.[3] In addition, 48 percent indicated that Nigerians have enjoyed the full benefit of the petrol subsidy, especially by the North-East residents, as well as respondents within the age groups of 18-22 years and 61+. Respondents who believe Nigerians have not enjoyed the full benefits of petrol subsidy (52 percent of the total) were further asked: What factors do you think have hindered Nigerians from enjoying the full benefits of petrol subsidy? The findings revealed that ‘corruption’ is the key factor hindering Nigerians from enjoying the full benefits of petrol subsidy as reported by the majority (66 percent) of respondents and this cuts across gender and geo-political zone. ‘Poor management of fuel subsidy’ (39 percent), ‘inefficient regulatory authorities’ (18 percent), ‘differences in cost of fuel importation’ (12 percent) and ‘inefficiencies of petrol price control mechanism’ (12 percent) amongst others are some of the factors Nigerians think have hindered the enjoyment of the full benefits of petrol subsidy. To ascertain the stance of Nigerians regarding the full removal of petrol subsidy by the government, respondents were asked: To what extent would you support the full removal of petrol subsidy by the government? The outcome shows that the slight majority (44 percent) of respondents surveyed would not support the total removal of petrol subsidy by the government, whereas 42 percent indicated that they would support the total removal of petrol subsidy by the government to a great extent. In addition, 14 percent of the respondents would support the removal of fuel subsidy to some extent. Analysis by geo-political zone reveals that the South-East zone has the highest percentage of respondents who would support the petrol subsidy removal to a great extent. The South-West zone accounted for the largest proportion of respondents who would support the total removal of the fuel subsidy to some extent while, the North-West zone has the larger share of respondents who would not support full subsidy removal by the government. To gauge the awareness of Nigerians on the recent drop in the price of crude oil worldwide, respondents were asked: Are you aware of the recent drop in the price of crude oil by 50% worldwide? Findings revealed that the majority of Nigerians (71 percent) who buy petrol are aware of the recent drop in the price of crude oil by 50 percent worldwide while 29 percent were unaware of this change. Further analysis on age-group shows that respondents aged 18 – 21 years (75 percent) were most unaware of the drop in the price of crude oil, moreover awareness generally increased with an increase in age with respondents aged 61 years and above (81 percent) being the most aware. Subsequently, respondents were asked: In your opinion, do you think that the drop in crude oil should be reflected in petrol price in Nigeria? The outcome reveals that almost all (94 percent) the respondent who purchase petrol believe there should be a corresponding drop in the price of petrol in Nigeria to reflect the drop in the price of crude oil worldwide. This cuts across gender, region and age-group. On the contrary, 6 percent of Nigerians stated that the drop in the price of crude oil worldwide should have no effect in the price of petrol in Nigeria; respondents in this category were mostly aged between 18-21 years. Finally respondents were asked: In your opinion, how much should the price of petrol drop to as a result of the drop in the price of crude oil by 50% worldwide? Findings revealed that majority (51 percent) of the respondents suggest that the price of petrol should drop to a range of ₦51- ₦70 as a result of the 50% drop in the price of crude oil; this is followed by 33 percent who indicated ₦30 – ₦50. However, when averaged out, Nigerians suggest the price of petrol should drop to ₦59 to correspond with the current drop in the price of crude oil. In addition while residents of the South-West maintained an average price of ₦57 being the lowest among other regions, the South-South zone residents maintained an averge price of ₦63 being the highest. In conclusion, findings from the revealed that slightly more than half (52 percent) of Nigerians who purchase petrol believe Nigerians have not enjoyed the full benefit of the petrol subsidy and ‘corruption’ (66 percent) has been identified as the key factor hindering Nigerians from enjoying the full benefits of petrol subsidy among other factors. More findings revealed that the slight majority (44 percent) of respondents surveyed would not support the total removal of petrol subsidy by the government, whereas 42 percent indicated that would support the full removal of petrol subsidy by the government to a great extent. Furthermore, an assessment of the drop in the price of crude oil by 50% revealed that almost all (94%) the respondent who purchase petrol believe there should be a corresponding drop in the price of petrol in Nigeria to reflect the drop in the price of crude oil worldwide. To this effect, the larger proportion of the respondents (51 percent) suggested that the price of petrol should drop to a range of ₦51 – ₦70 as a result of the 50% drop in the price of crude oil. Survey Methods The opinion poll was conducted in January 2015. It involved telephone interviews of a random nationwide sample. 1,500 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 3%. About NOIPolls NOIPolls Limited, No1 for country specific polling services in West Africa, works in technical partnership with the Gallup Organisation (USA). 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 About BusinessDay Media BusinessDay, established in 2001, is a daily business newspaper based in Lagos, Nigeria. It is the only Nigerian newspaper with a bureau in Accra, Ghana. BusinessDay Media Ltd is the leading medium for up-to-date news and insightful analysis of business, policy and the economy in Nigeria, a critical decision-making tool for investors and managers. It provides unbiased news and informed analysis on politics, governance, social and economic trends. Disclaimer This press release has been produced by NOIPolls Limited and authorized for release by BusinessDay Media on the NOIPolls media platform to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://www.noi-polls.com/index.php?s_id=3&p_id=231&p_pt=1#.VMuez2h4pF4 [2] http://www.noi-polls.com/index.php?s_id=3&p_id=231&p_pt=1#.VMuez2h4pF4 [3] http://www.noi-polls.com/root/index.php?pid=229&ptid=1&parentid=13

Abuja, Nigeria. 28th July 2015 – Power poll results released by NOIPolls Limited for the second quarter of 2015 revealed that as a direct effect of power shortage and the poor state of power supply in Nigeria, most Nigerians have adapted the use of alternative sources of power such as generators, solar inverters etc. with the average use of alternative power supply recorded at 77 percent over a 27-month period (April 2013 –June 2015). The poll result revealed that Q2 and Q4 2013 recorded the highest (81 percent each) use of alternative sources of power, while Q1, 2015 recorded the lowest at 70 percent. This result supports findings from the recent NOIPolls Power Tracking Report which revealed that there has been no remarkable improvement in power supply over a 30 month period as only an average of 36.4 percent of Nigerian households saw improvement in power supply.[1] Furthermore, monthly tracking of the usage of alternative sources of power across geopolitical zones revealed that majority of residents across all geo-political zones use alternative sources of power, although the South West Zone recorded the highest overall average (83 percent) usage of alternative sources of power, moreover this zone is the worst hit zone in terms of actual power supply over a 30-month period[2]. In addition the North-West Zone (71 percent) accounted for the lowest overall average usage of alternative sources of power over the 27 month period. Finally, while Nigerians continue to rely on alternative sources of power supply as measures towards sustaining household activities and livelihood, the negative effects, associated with the usage to some of these sources especially generators cannot be overlooked. Apart from its impact on the spending patterns of Nigerian households, several reports have revealed its negative effect on the environment and most especially its hazard to Nigerians mostly cartegorised as death from generator fumes as well as noise pollution.[3] For instance a report by Good Governance Initiative, GGI, revealed that no fewer than 10,000 Nigerians have died from poisonous ‘generator’ fumes, between 2008 and 2014. These draw backs therefore call for urgent need for the Nigerian market to gradually shift its focus to renewable power sources even as long term strategies are developed towards reviving the entire power sector. Brief Background A constant stream of energy is necessary in ensuring the development of an economy. Nations plagued with an epileptic power supply must deal with delayed development and the risks associated with the loss of potential investors in the market. From 1999 to present day, the country’s power generation hovers between 2,500 and 4,500 megawatts. As of May 2015, Nigeria’s total electricity generation dropped to a meagre 2,800 megawatt, the lowest in nearly a year.[4] The country’s current power supply does not meet the demand for electricity and as a result, there has been a rise in demand for alternative sources of power as a direct consequence of the epileptic power supply in Nigeria. With the aim of monitoring the progress made so far in the power sector reforms in Nigeria, NOIPolls introduced the Power Polls in 2013 to explore the perception of Nigerians towards the power sector reforms. The polls are conducted monthly to explore the amount of power supply received daily and expenditures made on power supply, as well as the state of power supply to households and its effect on consumers especially in the use of alternative sources of power and its financial implications. In conducting the power polls, respondents were asked 5 specific questions every month; one of these questions (centered on the usage of alternative source of power) will be discussed in this release. The result presented is a 27-Month tracking of the usage of alternative sources of power supply by Nigerian households. For a full report, please contact NOIPolls on enquiries@noi-polls.com Key Findings Monthly Tracking of Alternative Use of Power Supply With the aim of tracking the usage of alternative sources of power for each month, respondents were asked if they use alternative sources of power such as generator, inverter etc. Monthly tracking on the use of alternative sources of power revealed that over a 27 month period, the average use of alternative power supply was recorded at 77 percent nationwide. This finding therefore depicts that most Nigerians do not rely on actual power supply due to the power sector challenges which have been long established. Moreover the Manufacturers Association of Nigeria (MAN) estimates that 60 million residents use generators of varying sizes, although generators which runs with premium motor spirit (PMS), commonly known as petrol are the most widely used alternative sources of power. [5] Further analysis revealed inconsistencey in the use of alternative sources of power which can be mainly attributed to the inconsistent state of power within this period. For instance the month of June 2013 (85 percent) recorded the highest use of alternative sources of power supply, while February and March, 2015 recorded the lowest at 68 percent each. Nationwide Quarterly Tracking of the use of Alternative source(s) of Power (generators ,inverters etc.) The nationwide quarterly average tracking of the use of alternative sources of power revealed that Q2 and Q4 2013 (81 percent each) recorded the highest use of alternative sources of power, while Q1 (70%) and Q2 (75 percent) 2015 recorded the lowest usage. A review of power supply within these periods revealed that Q1 and Q2 2015 also recorded the lowest power improvement from 2014 as revealed by the recent NOIPolls Power Poll results[6]. This therefore suggest that the use of alternative sources especially generators is not just a function of the state of power supply, but it can also be affected by other socio-economic factors such as the availability and cost of fuel for runining generators. For instance the decline in the usage of alternative sources in Q1 and Q2 2015, even in the face of poor power supply could be attributed to the fuel scarcity which lingered within this period. Tracking of the use of Alternative Sources By Geo-Political Zones Over 27 Months Monthly tracking across geopolitical zones on the use of alternative sources of power, revealed that the South West and South South Zones recorded the highest overall average (82 percent each) proportion of households that use alternative sources of power, whereas the North-West Zone (71 percent) accounted for lowest overall average proportion of households that use alternative sources of power over the 27 month period. It is pertinent to note that recent power poll released by NOIPolls also revealed the South–West zone as the worst hit zone in terms of power supply over a 30 month period (January 2013-June 2015). In conclusion, findings from this report revealed that Nigerians have adjusted to the use of alternative sources of power (e.g. generator, inverter, etc.) due to the general poor state of power supply in Nigeria, as the overall average use of alternative power supply was recorded 77 percent over a 27-month period. These findings indicate that the Nigerian power sector has persistently been running with a shortfall, in spite of heavy funding from power reform interventions. While the use of alternative sources have generally bosted household activities and the livelihood of Nigerians, some negative effects which pose potential health harzards of some alternative sources cannot be overlooked; especillay with recorded cases of deaths from generator fumes. This therefore calls for urgent focus on the exploration of renewable energy, such as nuclear, solar, and wind as nationwide alternative source of power supply to residents. Survey Methods The opinion poll was conducted from Q2 2013 to Q2 2015. It involved telephone interviews of a random nationwide sample. A total of 27,000 Phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed within a 30-month period. NOIPolls Limited is 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 Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. 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 and/or thinking. Press Contact The Editor Email: editor@noi-polls.com [1] http://www.noi-polls.com/root/index.php?pid=338&parentid=13&ptid=1 [2] http://www.noi-polls.com/root/index.php?pid=338&parentid=13&ptid=1 [3] http://www.punchng.com/special-feature/pains-gains-of-alternative-sources-of-power/ [4]http://electricity.nextierlimited.com/?p=2427 [5] http://www.energy.gov.ng/index.php?option=com_content&view=article&id=74 [6] http://www.noi-polls.com/root/index.php?pid=338&parentid=13&ptid=1