Dangote, Nigeria’s multinational industrial company, has been named the most valuable brand among the top 50 brands in the country for 2018.
This is according to Brand Nigeria, the Agency that coordinated the survey. In its report, Brand Nigeria lauded the efforts of the handlers of the Dangote Brand because this is the first time a Nigerian brand would be achieving the feat since 2013.
The ranking comes barely three months after Dangote was declared 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).
At the event, Mr. Taiwo Oluboyede, Head of Brand Nigeria, explained that 46% of the top brands amounting to 23 are Nigerian brands.
Speaking in Lagos Mr. Oluboyede unveiled 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 the marketing and advertising industry.
Giving the highlights of the brands rating, he stated that Promasidor Nigeria Limited emerged the highest gainer jumping 15 points from last year, the 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 further stated 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.
Brand Nigeria maintained that the top 50 brands in Nigeria 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,” the group said.
“We used the Brand Strength Model (BSM index). It is a model that measures a brand’s ability to deliver on its promise to the consumers from the consumer’s point of view. The model uses basic qualitative elements and there are seven variables that go into the BSM model,” Brand Nigeria explained.
Dangote Group Chief Corporate Communication Officer, 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.
“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 the popularity of our company and the products,” Mr. Chiejina said.