Business - Promoted Content - October 18, 2021

Most Valuable brand in Nigeria: Dangote fourth time best

MEDIATRACNET

 
For the fourth time in a row, Dangote Group, a fully integrated Conglomerate and proudly Nigeria brand, has again emerged as the most Valuable brand in Nigeria.

MTN Nigeria blazed the trail as the Most Popular brand in the new Top of the Mind (TOM) survey conducted among corporate executives in the country.
 
In rating the brands, the organizers said they took into account seven metrics, including Brand Popularity, Quality Element, Market leadership, Innovation, National Spread, CSR-Environmental friendliness and Online Engagements.
 
Of the seven metrics, the survey revealed, Dangote brand came top in five, ahead of MTN.

The ratings were made public on Saturday at the annual top corporate brand evaluation report by Top 50 Brands Nigeria.
 
The annual top brands league table, which is a report card top corporate brands have a feel of their ranking in the market, is done with a special purpose model, the Brand Strength Measurement (BSM Index).

The index is a model that tests a brand’s ability to deliver on its promise to its consumers from the consumer’s points of view.

It is a qualitative, non-financial annual evaluation of top corporate brands in the country.
 
The Brand Consulting firm’s CEO, Taiwo Oluboyede, said the subject of brand and branding has become central in every corporate setting.

He said regardless of the sounds of the time, the brand drives and determines corporate placement, particularly at an unprecedented time like these.
 
“We are glad once again that a Nigerian brand emerged as the Most Valuable for the year. This says a lot about our tenacity and resilience as a people and our businesses, regardless of the situations around us. Even though overall, we have more multinationals, the homegrown brands gave an impressive performance.
 
“For example, six of the top 10 in the league table are Nigerian, most of which have also spread to other countries across Africa and other continents of the world.
Globacom emerged in the third place, followed closely by Coca-cola Nigeria who enjoys a lot of its global brand appeal.
 
Others in the top 10 in this annual ranking includd GTBank, Airtel, Access Bank, Zenith Bank, First Bank, and Dufil Prima Foods.

Six brands among the top 10 that have maintained top 10 positions for the past six years consecutively are Dangote, MTN, Globacom, FirstBank, GTBank, and Coca-Cola. 

The Banking and Financial Services category had the highest number of entries among the top 10 with four brands, followed by the telecoms with three brands.
 
Commenting on the top brands ranking, Founder and Chairman of Proshare Nigeria Limited (Nigeria’s foremost financial information hub), Femi Awoyemi, said the list indeed provided a true and fair representation of top brands by strength, popularity and potentials in Nigeria.

He said this year’s edition of Brands Nigeria Top50 Brands in Nigeria highlighted brands that have demonstrated strong resilience and adaptive capacity to the new normal in growing or maintaining their brands.

These brands, he said, have been able to maintain consumers’ confidence and market shares as observed by professionals and analysts.

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