Dangote Industries Limited has emerged the Most Valuable Brand in Nigeria for a record fifth year in a row at the outcome of the 2022 corporate brand evaluation, which was conducted by the leading brand and marketing research firm, Top 50 Brands Nigeria.
Dangote emerged top with an aggregate score of 83.7 Brand Strength Measurement (BSM) Index score, followed by MTN, Globacom, and Access Bank in second to fourth place, respectively.
Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank, and UBA in fifth to 10th position, respectively.
In a statement issued after the public presentation, the rating firm said: “The annual top brand evaluation is a qualitative, non-financial estimation of value of top corporate brands in the country.
“A measure of consumers’ perceptions and how positive or otherwise towards a brand, and how this affects its overall strength, using the Brand Strength Measurement (BSM)index, a model that tests a brand’s ability to deliver on its promise to the consumers from the consumers’ points of view.”
Speaking on the development, the Chief Corporate Communications and Branding officer of Dangote Group, Anthony Chiejina said “Dangote’s emergence, for the fifth year consecutively, did not come as a surprise to industry watchers.
“The brand has steadily increased its influence in many African nations through establishment of cement factories. It operates in about 13 African nations making it one of the most visible, recognized and admired brands in Africa.”
For the 2022 evaluation, Nigerian owned brands again dominated the top 10, with 7 brands.
Five brands among top ten are banks while 3 are telecoms. Nine of the top ten were among the top 10 in 2021, with Access Bank making a dramatic leap to fourth place, effectively topping the Banking and Financial Services Categories.
Four brands, maintained their previous year’s position among the top 10, while six of the top 10 had maintained top 10 position for 7 years consecutively.
Overall, 28 or 56 per cent of the 50 brands are multinational brands, while 22 or 44 percent are Nigerian.
PZ Cussons Nigeria Plc emerged the highest gainer this year by moving up 10 places, from 38 last year to 28th position.
Rite Foods, another Nigerian brand emerged as a first entrant into the annual brand ranking this year.
15 brands, which maintained their 2021 position, are Dangote, MTN Nigeria, Globacom, First Bank, Nestle Nigeria Plc, Guinness Nigeria Plc, Nigerian Breweries, Seven-up Bottling Company, Julius Berger, FMN Plc, Chi Limited, Oando Plc, Energies, P&G, Axa-Mansard and TGI.
Also, the Banking and Financial Services category has the highest entries with – 11 brands, which is, 22%.
Access Bank topped the category, and consumer goods followed with – 8 brands, which is 16% while Dufil Prima Foods topped the list.
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