Dangote becomes most valuable brand in 50 top brands

• Replaces MTN at the top

Dangote, a wholly Nigerian brand, has been voted the overall valuable brand in the 2018 Top 50 Brands.  It replaces MTN Nigeria at the top with 87.4 points against 80.8 point for MTN.

Dangote had, in previous editions, held the position of most valuable Nigerian brand but having emerged the most valuable brand overall, that automatically means Dangote is also the most valuable Nigerian brand.

MTN Nigeria came second and the most valuable multinational.

Others top Nigerian brands are Glo -77.94, GTBank Plc – 77.59, Coca-Cola Nigeria – 73-69.2, First Bank Nigeria Plc- 69.2, Unilever Plc – 67.5, UBA – 66, Zenith Bank Plc – 65.9 and Dufil Prima Foods – 65.1 per cents.

Twenty-three out of the top 50 brands are Nigerian while 27 are multinationals.

This year’s survey saw Promasidor becoming the highest gainer by jumping 15 points upward, while second highest gainers are BUA, 9mobile and Olam with 12 points upward each.

The 2018 survey sees the entry of Fidelity Bank as the first time entrant in the survey chart while Conoil, Channels TV, Union Bank Plc, Access Bank Plc, Chi, Toyota and GTBank Plc all maintained 2017 positions in 2018 even as Stallion Group returns to the chart after its previous absence.

According to industry categorization, conglomerate features six brand, telcos has four brands, banking/financial services with eleven, consumer goods features eight, food/beverages has six, media has four companies, building/construction has two representatives and retail, electronics, agro-allied categories all have one each.

CEO, Top 50, Taiwo Oluboyede, said, “In the selection and rating of the 50 top brands, we used the Brand Strength Model (BSM).

It is a model that measures a brand’s ability to deliver its promise to the consumers from the consumer’s point of view.

The model uses basic qualitative elements, including a survey to determine this.

“It starts with a test of people’s knowledge and affinity with brands operational in Nigeria.

“We had a survey called ‘Top on the mind’ where people tell us brands that easily come to their mind or they can recall.

“Aside the 50 league table, we also have a list of 10 Brands to Watch.

“These are brands that have evolved in recent times, showing enough strength and enjoying good visibility.” The 10 brands are Andela, Big Cola, Coronation Merchant, Daraju Industry, Eko Atlantic City, Konga, Masters Energy, Slot, Spar and Mall for Africa.

He said that the approach was to have a better narrative about the Nigeria brand and common heritage, adding, “It is a narrative of the resilient and tenacity which made many to have achieved success against all odds.

“This is the Nigerian spirit and a better description of who we are.”