Sophia Smith
Sun, Aug 27, 2023 5:10 PM

Dangote Industries Emerges as Nigeria's Most Valuable Brand for Sixth Consecutive Year

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Dangote Industries Emerges as Nigeria's Most Valuable Brand for Sixth Consecutive Year
Dangote Industries Limited has been named Nigeria's most valuable brand for the sixth consecutive year, according to the annual Top 50 Brands perception assessment conducted by 'Top 50 Brands Nigeria.' With a remarkable aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, Dangote continues to dominate the domestic brand space, reinforcing its unwavering excellence in the market. Telecom brands also take a prominent position, with three out of the top four brands hailing from the telecom sector.

Lagos - Dangote Industries Limited has once again emerged as Nigeria's most valuable brand, securing the top position for the sixth consecutive year. The accolade was confirmed by 'Top 50 Brands Nigeria,' a renowned brand and marketing firm, as part of its comprehensive 2023 Top Brands perception assessment.

The evaluation, known as the Brand Strength Measurement (BSM) index, provides a non-financial assessment of the value and impact of leading corporate brands in the country. Dangote Industries achieved an impressive score of 86.2, highlighting its consistent excellence and exceptional performance in the brand landscape.

Securing a close second place with an 85 BSM index score is MTN, a telecommunications giant that continues to be a strong contender in the market. Following closely behind are Airtel Nigeria and Globacom, both receiving BSM index scores of 77.9 and 77 respectively, and securing the third and fourth positions.

The top four brands in Nigeria's brand perception assessment reaffirm the prominence of the telecom sector, with three out of the four brands belonging to this industry. Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank make up the remaining positions in the top ten brands.

Globacom, a major player in the telecom industry, secured the title of Most Popular Brand in Nigeria based on the outcome of a Top of Mind (TOM) Survey. Respondents, including Chief Marketing Officers and Head of Corporate Communications of leading companies across the country, mentioned the top brands that easily came to their minds.

The Chief Executive Officer of 'Top 50 Brands Nigeria,' Taiwo Oluboyede, emphasized the significance of brands in today's market. He drew a parallel between brands and individuals, highlighting the importance of maintaining strong brand personalities and consistently delivering on promises.

Oluboyede stated, "A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone's name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you."

To uphold a strong brand presence, brand owners and promoters must consistently deliver on their pledges. Oluboyede emphasized that brands should focus on living up to their promises, as it is the commitment to delivering on these promises that differentiates top brands from the rest.

A breakdown of the 2023 evaluation report reveals that Nigerian-owned brands continue to shine among the top ten, with a total of ten brands securing their positions. Dangote Industries, Globacom, Access Bank, Zenith Bank, GTCO, and First Bank are among the Nigerian brands dominating the market.

Furthermore, the report shows that five out of the top ten brands are from the banking sector and three are from the telecommunications sector. Notably, Airtel Nigeria made significant progress, ascending to the third position in this year's assessment.

The survey also highlights the longevity of certain brands, with six brands consistently maintaining their position in the top ten for seven years in a row.

Over half of the top 50 brands, 26 in total, are multinational brands, while the remaining 24 are Nigerian brands. This indicates a healthy mix of local and international brands that contribute to Nigeria's vibrant business landscape.

The recognition of Dangote Industries as Nigeria's most valuable brand for the sixth consecutive year showcases the conglomerate's unwavering dominance in the country's market. With strong contenders like MTN, Airtel Nigeria, and Globacom, the telecom sector continues to make its mark in the brand perception assessment. Nigerian-owned brands also remain a force to be reckoned with, solidifying their position among the top brands in the country.

Source of content: OOO News 2023-08-27 News

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