Business

Dangote now most valuable brand in Nigeria

238

The company of Africa’s richest man, Dangote Group, is now the most valuable brand in Nigeria, following an agency survey which revealed the company as the number one out of top 5o brands sampled using the Brand Strength Model (BSM) index.

 

This is the first time a Dangote brand would top the index in nearly five years,according  the agency, Brand Nigeria, which sampled 23 Nigerian brands and another 27 multinational brands to make 50 brands sampled.

 

Unveiling the list of the top 50 brands at an event attended by top executives of leading corporate organizations in the country as well as stakeholders in Marketing and Advertising Industry, Taiwo Oluboyede, the Head of Brand Nigeria explained that 46 percent of the top brands amounting to 23 are Nigerian brands.

 

Giving the highlights of the brands rating, he stated that Promasidor Nigeria Limited emerged the highest gainer jumping 15 points from last year,followed by the trio of BUA, Nine Mobile and Olam all of which moved 12 points from last year position, while seven brands, Conoil, Channels TV, Union Bank, Access Bank, Chi, Toyota, and GTBank maintained their positions.

 

He stated further that Fidelity bank came as a first entrant this year and Stallion Group making a fresh return to the top 50 brands this having exited before.

 

The top 50 brands in Nigeria, Soboyede maintained are the brands that have succeeded in delivering their promises to the consumers. “They are fast growing in value and they are the drivers of our economy. The top brands this year are those that have been able to analyse needs, see opportunities by creating solutions to them and communicating same to the consumers.

 

“They have also become so good at it that the consumers often refer to them with the name of the need they meet that is their products or services. These brands have found how to deliver something special oftentimes.”

 

Chief Corporate Communication Officer of the Dangote Group, Anthony Chiejina said “the management was not surprised at the ranking because the company has continuously deepened and delivered on its core values is to be a world-class enterprise that is passionate about the quality of life of the people and giving high returns to stakeholders.

 

“And this philosophy is driven by values, which include customer service, entrepreneurship, excellence and leadership. In any of our subsidiaries, the focus is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

 

“The expansion of our business especially the Cement which has operations in 14 African countries including Nigeria, Benin, Ghana, Senegal, South Africa and Zambia, among others has added to popularity of our company and the products.”

 

Dangote’s recognition as the top brand in Nigeria is coming three months after the brand was adjudged the most admired brand of African origin by consumers in a brand rating coordinated by South Africa based Brand Leadership in conjunction with Johannesburg Stock Exchange (JSE).

 

It will be recalled that back in July, the Dangote brand topped the ranking of 100 best brands in Africa themed “Brand Africa:100”, the sixth edition announced in Johannesburg, South Africa.

 

The Brand Africa 100 ranking is based on a survey among consumers 18 years and older, conducted in 23 countries across Africa.  The countries, representing all African economic regions, collectively account for 75% of the population and the 74% of the GDP of Africa.

Leave a comment

Related Articles

UBA to empower MSME’s with wealth management strategies at its ‘Built to Last’ series

As part of its commitment to deepen the growth and sustainability of...

FirstBank Hosts First-ever China-Africa Interbank Association Forum

FirstBank, the premier West African financial institution and financial inclusion service provider,...

UBA to raise N239.4bln via right issues – Elumelu

The Group Chairman of United Bank for Africa, Tony Elumelu, has announced...

Nigeria’s Domestic Debt Reaches N66.957trn in H1 2024

Nigeria’s domestic debt stock has surged to N66.957 trillion in the first...

China’s imports from Nigeria soar to $15.1bln, 36.1% increase

China’s imports from Nigeria have reached an all-time high of $15.1 billion...

Bitcoin Surges to New High on Trump’s Presidential Victory

The price of bitcoin has skyrocketed to a record high of $75,345,...

Polaris Bank wins “Best Mobile App” award at Digital Jurist Awards 2024

For its commitment to digital innovation and excellence, Polaris Bank has again...

SanDisk extreme portable SSD: A must-have for Nigerian remote workers, freelancers

Julius Babarinde As the Nigerian work environment continues to evolve, remote work...

Media capacity-building: Polaris Bank trains 5,000 Nigerian journalists in 10 years

As part of its media capacity-building initiative, Polaris Bank Limited, Nigeria’s leading...

Nigeria to issue diaspora bond in US, targets $1bln monthly remittances

Nigeria is planning to issue a diaspora bond in the United States...

System upgrade: FirstBank enhances supplier’s platform, guarantees uninterrupted, seamless services

FirstBank has reacted to a misleading report circulating in the media regarding...

Reps to CBN: Withdraw old naira notes before December 31 deadline

The House of Representatives has called on the Central Bank of Nigeria...

US-Nigeria trade relationship hits $10bln mark

The United States and Nigeria have achieved a remarkable milestone in their...

NNPC Retail Sensitizes Auto Mechanics on CNG Adoption, Unveils Oleum Lubricant Range

NNPC Retail Limited, a subsidiary of NNPC Ltd, has taken a significant...

Aliko Dangote’s wealth soars to $28bln as his oil refinery comes on stream

Aliko Dangote, Africa’s richest man, has seen his wealth more than double...

Naira Defies Global Trends, Appreciates 5.7% Against Dollar

The Nigerian naira staged a surprising comeback on Monday, appreciating 5.7 percent...

Naira appreciates 4.49% against the dollar, closing at N1,561.76

The Nigerian naira strengthened significantly against the US dollar on Tuesday, closing...

Nigeria’s foreign investment surges by 152% in Q2 of 2024

Nigeria’s foreign investments, also known as capital importation, have seen a significant...

African oil-producing nations secure 45% of $5bln Energy Bank funds

Afnations have made significant progress in establishing the Africa Energy Bank (AEB),...

FG’s fresh fiscal incentives to attract $10bln to oil and gas sector – Edun

The Federal Government unveiled fresh fiscal incentives to enhance Nigeria’s oil and...