Dangote Group has won the title of Most Valuable Brand in Nigeria for a record sixth time after receiving an exceptional overall score of 86.2 percent on the brand strength measurement index survey.
According to The Nation, the survey was conducted by the Top 50 Brands in Nigeria as part of its thorough 2023 Top Brands Perception Assessment.
Recently, the group announced the 2023 Top 50 Brands Nigeria during a media briefing in Lagos and claimed that Dangote’s continued brilliance had solidified its position at the top.
With an 85 BSM index score, MTN, who is still a serious challenger, came in second.
Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77, respectively, took third and fourth place this year.
The top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, First Bank, and BUA Group. Of particular note is BUA Group’s geometric rise into the top 10 with a strong 70.8 BSM Index.
The CEO of Top 50 Brands Nigeria, Taiwo Oluboyede, commented on the results of this year’s review by saying, “A brand is like a person with all the attributes that characterize his/her personality to the audience. You are probably not only going to recall someone’s appearance or mannerisms when you hear their name but also who they actually are and what they mean to you.”
Nigerian-owned businesses continued to stand out among the top 10 brands, according to a breakdown of the 2023 evaluation report.
Three of the top 10 brands are in the telecommunications industry, while five are banks.
Impressively, nine of the top ten performers from last year were still in the top 10, and four others kept their rankings.
Incredibly, Airtel Nigeria moved up to third place.
Additionally, six businesses have impressively held down a top 10 spot for seven years straight.
Of the 50 brands overall, 26 (52%), or foreign brands, and 24 (48%), or Nigerian brands, were present.
Rite Foods Limited shines out as the top performer this year, moving up 14 spots to a position of 30th from 46th.
Examining the breakdown by industry, banking services, as usual, had the most participants with 12 participants, or 24% of the total with Access Bank topping the category.
Consumer products, with nine brands and an 18% market share led by Dufil Prima Foods, come in second.
Six brands, or 12% of the conglomerates category, are led by the Dangote Group.
Oando, Coca-Cola, and MTN are the industry leaders in their respective categories, while the oil and gas, beverage, and telecom sectors each contribute four brands.
There are three brands in the insurance industry, with AIICO at the forefront.
With two brands apiece, the categories for building and construction services, media, and electronics were led by Julius Berger, Multichoice, and Tecno Nigeria.
The sectors for automobiles, agriculture, and aviation/logistics each had one brand each, —Toyota Nigeria, Olam International, and Air Peace.
