Dangote emerges most valuable brand in Nigeria

Nigeria’s Dangote has emerged the most valuable brand among the top 50 brands in Nigeria for 2018, according to a survey conducted by Brand Nigeria.

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 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.

Unveiling 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, Taiwo Oluboyede, the head of Brand Nigeria 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, 9Mobile, 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.

Soboyede maintained 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,” he said.

Giving insights into how the evaluation of the top 50 brands was carried out, Soboyede said: “We used the Brand Strength Model (BSM index). It is a 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”.

According to the variables, with a test of people’s knowledge and affinity with the brands operational in Nigeria, “we had a top on the mind survey where people tell us brands that easily come to their mind or brand they can recall.

Anthony Chiejina, chief corporate communication officer at Dangote Group, said the management was not surprised at the ranking because the company has continuously deepened and delivered on its core values is to be a world-class enterprise that is passionate about the quality of life of the people and giving high returns to stakeholders.

“And this philosophy is driven by values, which include customer service, entrepreneurship, excellence, and leadership. In any of our subsidiaries, the focus is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large-scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

“The expansion of our business especially the Cement which has operations in 14 African countries including Nigeria, Benin, Ghana, Senegal, South Africa, and Zambia, among others has added to the popularity of our company and the products, Chiejina stated.

It would be recalled that back in July, the Dangote brand came atop in the ranking of 100 best brands in Africa themed “Brand Africa: 100”, the sixth edition announced in Johannesburg, South Africa.

The Brand leadership in the ranking list said of Dangote brand “Nigerian industrial brand Dangote is the number one African brand recalled when consumers are prompted about the continent (Africa) of origin while the South African telecommunications brand MTN is the number one African brand spontaneously recalled irrespective of the continent of origin.