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Dangote emerges most valuable brand in Nigeria for 5th straight year
After the 2022 corporate brand review done by the top brand and marketing research organization, Top 50 Brands Nigeria, Dangote Industries Limited (DIL) has once again emerged as Nigeria’s most valuable brand.
Dangote won with an overall Brand Strength Measurement (BSM) Index score of 83.7. MTN, Globacom, and Access Bank come in second through fourth, respectively.
Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank, and UBA, which are ranked fifth through tenth, are also among the top 10.
The annual top brands’ evaluation report, which is now akin to a report card and gives top corporate brands an unbiased assessment of their performance from the perspective of consumers, has also evolved into a sort of “bragging” right and a source of pride for the brands that made the top 50 league table, especially those that took the lead.
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The rating company stated in a press release following the public presentation that “The annual top brand evaluation is a qualitative, non-financial estimation of the value of top corporate brands in the country.”
Utilizing the Brand Strength Measurement (BSM) index, a model that assesses a brand’s capacity to fulfil its promise to consumers from the consumers’ points of view, one can determine how consumers perceive a brand and how positive or negative their perceptions are, and how this affects the brand’s overall strength.
Chief Corporate Communications and Branding officer of Dangote Group, Anthony Chiejina said, “Dangote’s emergence, for the fifth year consecutively, did not come as a surprise to industry watchers. The brand has steadily increased its influence in many African nations through the establishment of cement factories. It operates in about 13 African nations making it one of the most visible, recognised and admired brands in Africa.”
Addressing the owners and promoters of the top brands, the Chief Executive Officer Of Top 50 Brands Nigeria, 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.”
