Nigeria’s Dangote has emerged the most valuable brand among the top 50 brands in Nigeria for 2018 which were unveiled in Lagos.
This is coming barely 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).
Brand Nigeria, the Agency that coordinated the survey in Nigeria, in its report 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.
Mr. Taiwo Oluboyede, the Head of Brand Nigeria in disclosing 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, 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, 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.
Mr. Taiwo further said that Fidelity bank came as a first entrant this year and Stallion Group making a fresh returns to the top 50 brands this having exited before.
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 analyze 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 often times.”
Giving insights into how the evaluation of the top 50 brands was carried out, Mr. Taiwo stated “we used the Brand Strength Model (BSM index). It is 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”.