For a record sixth time, Dangote Group has emerged Nigeria’s Most Valuable Brand by securing an impressive aggregate score of 86.2 per cent on the brand strength measurement index (BSM) conducted by Top 50 Brands Nigeria as part of its comprehensive 2023 top brands perception assessment.
At the media briefing to announce the 2023 Top 50 Brands Nigeria in Lagos yesterday, the organisation stated that Dangote’s consistent excellence has reinforced its position at the forefront.
Also, 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.
Interestingly, this has reaffirmed the prominence of telecommunications brands, with three out of the top four hailing from this sector.
The top 10 brands feature Access Bank, Zenith Bank, Coca-Cola, GTCO, First Bank, and BUA Group, and the geometric growth by BUA Group into the top 10 for the first time with a strong 70.8 BSM index deserves special attention.
Speaking on the outcome of this year’s evaluation, the Chief Executive Officer of Top 50 Brands 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 face or apparel, but who they really are and what they mean to you.
Oluboyede further stated: “It is not about making pledges anyway, it is about steadfastly living up to the commitment that separates the top brands from the rest.”
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 ten brands are banks, while three are telecommunications. Impressively, nine of the 10 were among the top 10 last year, while four maintained their previous position. Airtel Nigeria made a remarkable rise to third place. Also, six brands have consistently maintained a top 10 position for a remarkable seven years in a row.
Overall, 26 or 52 per cent of the 50 brands are multinational, while 24 or 48 per cent are Nigerian brands.
