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HomeBusinessTOP 50 BRANDS NIGERIA: Dangote Group named most valuable brand in Nigeria

TOP 50 BRANDS NIGERIA: Dangote Group named most valuable brand in Nigeria

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Dangote Group, majorly owned by Africa’s richest man, Aliko Dangote has emerged as the Most Valuable Brand in Nigeria for the year 2020, the third consecutive year of winning the award.

The group, a conglomerate of many blue-chip companies topped the list of 60 brands in Nigeria assessed in the Annual Brand Evaluation (ABE), “TOP 50 BRANDS NIGERIA.”

Though the ABE is still themed Top 50 Brand, however, 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organizers earlier at the beginning of the year.
 
The emergence of Dangote brand as the most valuable for the third time in Nigeria is coming a year after the Group was named the most admired African brand, of African continent origin, by consumers in the Continent ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands which was announced in Johannesburg
 
In a statement by Top 50 Brands, Taiwo Oluboyede, Chief Executive Officer said “In this special edition of the Annual Top Brands evaluation, I am glad to inform you again that Nigerian brands have taken the shine by maintaining their leadership positions.” 

Speaking on the emergence of Dangote Group as the most valuable brand for the third year running, Ehiedu Iweriebor, a professor at the Department of Africana and Puerto Rican/Latino Studies, Hunter College, City University of New York, said: “Dangote Group as a brand leader for third year is a richly deserved honor.

“It is a Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product,” he said.

However, the multinationals have more entries overall, with 52 percent, an equivalent of 31 brands out of the 60.

This achievement by Nigerian brands are significant in many ways, having 70 percent of the top 10 being Nigerian.

It shows that our locally made brands are constantly evolving and becoming more vibrant by the day.

“They have not relented in making attractive value proposition that endears the consumers to them, to the point that many consumers are now contended with Made in Nigeria, over foreign brands across many categories. This is a clear departure from recent pasts.

“This also means that many great things are still happening in Nigeria, regardless of the negative press. Our locally made brands are standing shoulder to shoulder with the multinationals in their industries and they are emerging better in valuation and perception,“ he stated.
 
According to him; Big businesses and widely acceptable brands are being built here, challenging the status quo and taking leadership roles across various industries and areas of operations. “They are not just local champions, many of these Nigerian brands have also become multinationals, expanding aggressively across other African countries and beyond. You can see this in brands like Access Bank, Globacon, UBA, GTBank, Zenith Bank, First Bank, Dangote Group etc.
“This is a huge plus to the  Nigerian business space and a strong point of encouragement to foreign investors that Nigeria still remain a top business frontier where you are almost certain of high return on your investment.”
 
A brief summary of the 2020 report as published on their website, reveals that Dangote Group topped the list of the Most Valuable Brand 2020. This is followed by MTN which also doubles as the Most Valuable Multinational and Telecom Brand.
 
On the third place is Globacom, another proudly Nigerian brand. Glo made an impressive achievement this year by emerging top in the popularity survey.

The popularity test, which is done through a Top of the Mind (TOM) survey is the first and most important variable in the annual top brands evaluation.

Glo achieved an 89 percent mention from respondents during the TOM survey. This made Globacom, the Most Popular Brand in Nigeria 2020.

Coca-Cola Nigeria emerged in fourth place and effectively topped the Beverages category, followed by GTBank in 5th Place, topping the Banking and Financial Services brands.
 
It would be recalled that Dangote Group, for the second consecutive year emerged the most admired African brand, of African continent origin, by consumers in the African continent.

According to South Africa based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.

In the top 100 list, the United States sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers.

South African telecoms brand MTN is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin. 

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