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For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has emerged Nigeria’s Most Valuable Brand for Year 2020, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.
Though, still themed Top 50 Brand, 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Diamond Jubilee Independence anniversary as announced by the organisers earlier in the year.
The emergence of the Dangote brand as the most valuable for the third time in Nigeria is coming a year after it was named the most admired African brand of African origin, by consumers in the continent ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands announced in Johannesburg.
In a statement by Top 50 Brands, made available to journalists ahead of the formal public presentation of the brands yesterday, Taiwo Oluboyede, chief executive officer said “In this special edition of the annual top brands evaluation, I am glad to inform you again that Nigerian brands have taken the shine by maintaining their leadership positions. We are particularly delighted that locally made brands don’t just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.”
However, the multinationals have more entries overall, with 52 percent, an equivalent of 31 brands out of the 60. This achievement by Nigerian brands are significant in many ways, having 70 percent of the top 10 being Nigerian. It shows that our locally made brands are constantly evolving and becoming more vibrant by the day. “They have not relented in making attractive value proposition that endear the consumers to them, to the point that many consumers are now contended with Made in Nigeria, over foreign brands across many categories. This is a clear departure from recent pasts.
“This also means that many great things are still happening in Nigeria, regardless of the negative press. Our locally made brands are standing shoulder to shoulder with the multinationals in their industries and they are emerging better in valuation and perception.“, he stated.
According to him; Big businesses and widely acceptable brands are being built here, challenging the status quo and taking leadership roles across various industries and areas of operations. “They are not just local champions, many of these Nigerian brands have also become multinationals, expanding aggressively across other African countries and beyond. You can see this in brands like Access Bank, Globacon, UBA, GTBank, Zenith Bank, First Bank, Dangote Group among others.
