Dangote, Access, FirstBank Top Lists Of Nigeria’s Most Valuable Brands


Dangote, Globacom, Access Bank, Zenith Bank, GTCO, First Bank, BUA Group, and others have been named Nigeria’s Most Valuable Brand on the Brand Strength Measurement Index (BSM) conducted by Top 50 Brands Nigeria.

For a record sixth time, Dangote Group has maintained the first position of Nigeria’s Most Valuable Brand by securing an impressive aggregate score of 86.2 per cent on BSM.

while announcing the 2023 Top 50 Brands Nigeria in Lagos yesterday at a media briefing, the organisation stated that Dangote’s consistent excellence has reinforced its position at the forefront.

MTN remains a strong contender, securing a close second place with an 85 BSM index score. This year’s third and fourth positions are secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively.

Delving into the industry breakdown, Banking Services, as usual, had the largest entries with 12 entrants, representing 24 per cent of the total. Access Bank topped the category. This is followed by Consumer Goods with 9 brands, that is 18%, with Dufil Prima Foods leading the charge.

Speaking on the outcome of this year’s evaluation, CEO of Top 50 Brand Nigeria, Taiwo Oluboyede said, “A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone’s name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you.”

“Someone may claim to be the best man in the world, could even go as far as doing paid advertising to attract attention. However, the real description of the person to you is your experience. Perception about a person could change from like to dislike or the other way round, the same is also true for a brand,” he added.

Oluboyede further stated that “it is not about making pledges anyway; it is about steadfastly living up to them—a commitment that separates the top brands from the rest.” he said.

A breakdown of the 2023 evaluation report indicated that Nigerian-owned brands continued to shine among the top 10 brands. There are Dangote, Globacom, Access Bank, Zenith Bank, GTCO, First Bank, and BUA Group.

Five of the top 10 brands are Banks, while three are Telecommunications. Impressively, 9 of the 10 were among the top 10 last year, while 4 maintained their previous positions.

The Conglomerates category has 6 brands, making up 12 per cent, with Dangote Group on top. The Oil and gas, Beverages, and Telecom sectors each contribute 4 brands, with Oando, Coca-Cola, and MTN leading their respective categories.

The Insurance sector has 3 brands, with AIICO at the forefront. Meanwhile, the Building & Construction Services, Media, and Electronics categories had 2 brands each, featuring Julius Berger, Multichoice, and Tecno Nigeria leading their respective categories.

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