Business

Dangote now most valuable brand in Nigeria

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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.

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