BrandFinance has named Nigeria’s most valuable companies. Dangote Group emerged as Nigeria’s most valuable brand. DangoteGroup is a Nigerian manufacturing success story. Its commitment to creating value and building a brand that is recognizable notjust in Nigeria, but also
beyond the borders of Nigeria, has seen its brand valuegrow to US$491
million.
Nigerian Breweries came in as Nigeria’s strongestbrand with a brand strength rating of AA+ and a brand value of US$78million. Nigerian Breweries continuesgrow its brand strength on the back ofinnovative marketing strategies which enables it to deepen its market penetration strategy. A prime example ofthis is the partnership it forged with foreign based football clubs thatenablesthe brand to capture the existing consumer attachment to these clubs,especially the English Premier League.
The Banking sector dominated the table this year,making up 48% of the list. However, the sector’s overall brand value grew a mere six percent year on year. First Bank of Nigeria has consecutively been the most valuablebanking brand, valued at US$301 million.
The sector is uniquely affected by the decline ineconomic activities brought about by the recession. Factors such as the increase in non-performing loans and foreign exchange challenges help surge up discount rates which lowered brand values.
The Oil and Gas brands, which comprise 20 percent ofthe overall brand value, experienced a decline in sector brand value this year.Oando was an exception; its brand value did not see a change this year. Despitethe waning brand value of the sector as a whole, Seplat’s brand value enjoyed a 10 percent increase to US$90 million, confirming it as the most valuable Oil and Gas brand. The decline in the sector’s brand value is attributable to the declinein oil output and prices, which has increased discount rates.
In contrast, the ICT sector saw its brand value growby 63 percenteTranzact emerged as the fastest growing brand, up 65 percent toUS$17 million. Glo mobile is the most valuable telecommunications brand, valuedat US$427 million, up 62 percent from last year.
BabatundeOdumeru, Managing Director, Brand Finance Nigeria, commented: “The fact that both the strongest and most valuable brands came from the manufacturing sector is re-assuring. This somewhat dispels the notion of how undiversified our economy really is. This issomething to build upon. The government’s effort towards diversifying the economy should be complimented with a drive to develop corporate Nigeria’s capability of building strong and global brands. This isabsolutely crucial in successfully implementing the policy of wealth
creationwe seem to have embarked on.”
Brand Finance is the world’s leading brand and brandedbusiness valuation consultancy, with offices
in over 25 countries, providing clarity to marketers, brand owners and investors by quantifying the financialvalue of brands.
Drawing on expertise in strategy, branding, market research, visual identity, finance, tax and intellectual property, Brand Finance helpsclientsmake the right decisions to maximise brand and business value and bridge the gap between marketing and finance.
