Dangote Industries, MTN, Globacom and Access Bank have led the Top 5o Brands Nigeria list this year, according to the result of the evaluation by brand and marketing research firm, Top 50 Brands Nigeria.
Dangote emerged the Most Valuable Brand for a record fifth year in a row at the outcome of the 2022 corporate brand evaluation. It topped with an aggregate score of 83.7 per cent Brand Strength Measurement (BSM) Index score. This was followed by MTN, Globacom and Access Bank in second, third and fourth place.
Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank and UBA at fifth to 10th positions respectively.
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Speaking, Top 50 Brands Nigeria, Chief Executive Officer, Taiwo Oluboyede said: “Brand has become a critical differentiator that helps consumer’s choice and also separates the top corporate organisations from the others and even much more. It is also consumers’ buying choice justification.”
He added: “When you plant a flower, you keep watering and pruning it to grow and until it blossoms and this you do for its lifetime. If you omit or forget to prune or water, regardless of how beautiful it is at the beginning, it dies. The same is applicable to brands. That is why we have seen brands that dropped from the 50-league table in recent times, while new ones emerge.
“So, the responsibility lies with the owners and promoters to consistently maintain compelling propositions and live up to their promises. As we all know, it’s not just about making propositions, but living up to its demands and consistently so. This is what makes a top brand.”
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For this year’s evaluation, Nigerian owned brands again dominated the top 10, with 7 brands- Dangote leading the pack, followed by Globacom, Access Bank, Zenith Bank, GTCO, First Bank and UBA.
Five brands among the top ten are banks while three are telecoms. Nine of the top ten were among the top 10 last year, with Access Bank making a dramatic leap to fourth place, effectively topping the Banking and Financial Services Categories.
Four brands, maintained their previous year’s position among the top 10, while six of the top 10 had maintained top 10 position for seven years consecutively.
Overall, 28 or 56 per cent of the 50 Brands are multinational brands, while 22 or 44 percent are Nigerian. PZ Cussons Nigeria Plc emerged the highest gainer this year by moving up 10 places, from 38 last year to 28th position. Rite Foods, another Nigerian brand emerged as a first entrant into the annual brand ranking this year.
Fifteen (15) brands maintained their 2021 position- these are (Dangote, MTN Nigeria, Globacom, First Bank, Nestle Nigeria Plc, Guinness Nig Plc, Nigerian Breweries, Seven-up Bottling Company, Julius Berger, FMN Plc, Chi Limited, Oando Plc, Energies, P&G, Axa-Mansard and TGI.
Furthermore, the Banking & Financial Services category had the highest entries with – 11 brands, that is 22per cent. Access Bank topped the category, and consumer goods followed with -eight brands. That is 16per cent. Dufil Prima Foods topped the list.
Conglomerates had 7 brands. That is 14per cent with Dangote Group on top, beverages came at the fourth place with 6 brands. That is 12per cent. Coca-Cola topped the category, Oil & Gas and the Insurance categories had 3 brands each, amounting to six per cent each. Oando Plc and AIICO Insurance topped them respectively and electronics, mass media and Building & Construction Services returned with two brands each that is four per cent for each. Samsung, Multichoice and Julius Berger topped their respective categories.
In his contribution to the evaluation, Chainman Proshares Nigeria, Mr Olufemi Awoyemi, said: “First, it is commendable to see that in the evaluation process used in ranking the brands, professionals such as Chief Marketing Officers and Head of Corporate Communications and Reputation Managers. Eight companies listed on the Nigerian Exchange Limited (NGX) made the list of top 10 brands in Nigeria. With the thorough evaluation process and degree of attention to detail evident in the report, the list indeed provides a true and fair representation of top brands by strength, popularity and potential in Nigeria.
