Dangote beats MTN, Globacom, banks to emerge Most Valuable Brand in Nigeria for 6th year

Dangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year. This achievement was confirmed by the brand and marketing firm, TOP 50 BRANDS NIGERIA, as part of its comprehensive 2023 Top Brands perception assessment.

The rating firm said in a statement that Dangote got an impressive aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, reinforcing its position at the forefront. The score reflects the consistent excellence of the brand.

MTN remains a strong contender, securing a close second place with an 85 BSM index score. This year’s third and fourth positions are secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively.

Interestingly, this reaffirms the prominence of telecom brands, with three out of the top four coming from this sector.

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Among the Top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank.

Globacom was adjudged the Most Popular Brand following the outcome of a Top of Mind (TOM) survey, where respondents mentioned 10 brands that came to their mind or that they could easily recall.

This year’s survey had as respondents Chief Marketing Officers and head of corporate communications of major companies across the land.

TOP 50 BRANDS Nigeria, while announcing the ratings said, “This annual top brand evaluation provides a qualitative, non-financial assessment of the value of leading corporate brands in the country. It gauges consumers’ perceptions of brands and their impact on overall brand strength, using the Brand Strength Measurement (BSM) index—a model designed to assess a brand’s ability to deliver on its promises from the consumer’s perspective.”

Five of the top 10 brands are banks, while three are telecoms. Impressively, nine of the 10 were among the top 10 last year, while four maintained their previous positions .

Overall, 26 or 52% of the 50 brands are multinationals, while 24 or 48% are Nigerian brands.

Rite Foods Limited stands out as the highest gainer this year, leaping 14 places from 46th to 30th. Notably, Wema Bank makes a noteworthy debut in the annual brand ranking.