Dangote emerges most valuable brand for 2020

For the third consecutive year, the pan-African and fully integrated conglomerate, Dangote Group, has again emerged as the Most Valuable Brand in Nigeria for the 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 Diamond Jubilee of Nigeria’s Independence as announced by the organizers earlier in the year.

The emergence of Dangote brand as the most valuable for the third time in Nigeria is coming a year after the company was named the most admired African brand, of African continent origin, by consumers in the continent ahead of the telecommunication giant, MTN, in a survey of 100 Africa best brands which was 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 do not just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.”

READ ALSO: ‘Non-standardised address system is the greatest challenge to last mile verification in Nigeria’

Commenting on Dangote’s emergence as the most valuable brand for the third year running, Prof. Ehiedu Iweriebor of the Department of Africana and Puerto Rican/ Latino Studies, Hunter College, City University of New York, said: “Dangote Group as a brand leader for the third year is a richly deserved honour.

It is a Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product.” 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 endears 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 etc.

“This is a huge plus to the Nigerian business space and a strong point of encouragement to foreign investors that Nigeria still remains a top business frontier where you are almost certain of a high return on your investment.”