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Monday, September 10, 2012

MasterCard Index scores Nigeria 91.4 points

MasterCard says Nigerian consumers are still very optimistic on its products and have a high level of confidence in the country’s economic overall, scoring Nigeria 91.4 points.

This position was contained in the MasterCard Worldwide Index (MCWI) of Consumer Confidence, using the company’s five key economic indicators, namely, regular income prospects, quality of life, economy, employment prospects and stock market.

The aforementioned indicators were rated 97.9, 94.9, 93.9, 92.0 and 78.6 points in that other, based on a survey which measured consumer confidence on prevailing expectations in the market for the next six months.

According to the Country Manager, West Africa, MasterCard Worldwide, Omokehinde Ojomuyide, the Index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.
She elucidated that the most recent survey was conducted between 24 April 2012 and 10 June 2012, and involved 11,376 respondents aged 18 to 64 across 25 markets spanning the Asia Pacific, Middle East and Africa regions. 

On the African continent, the survey was conducted in Egypt, Kenya, Morocco, Nigeria and South Africa.
Although the index and accompanying reports may not represent MasterCard financial performance, globally, the Country Manager, noted that the company carries out this Index in order to provide informed understanding in the shifts of Nigerian consumer sentiment, as well as to assist in the identification of market trends over time.

“Nigerians remain one of the most optimistic groups of consumers among those surveyed by MasterCard on the continent, with an Index score of 91.4 points in this latest set of results – over 12 points higher than the average of the five African countries surveyed,” she says.

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