Nigeria’s most valuable brands in 2024 showcase a blend of innovation and market leadership. These brands have achieved notable financial success and shaped consumer experiences and industry standards.
This list includes global telecommunications leaders, financial institutions, and key consumer goods companies, reflecting Nigeria’s economic impact.
According to the Brand Strength Measurement (BSM) by ‘Top 50 Brands Nigeria,’ Nigerian brands occupy 24 spots, while international brands hold 26, highlighting a balanced presence.
Read also: Here are the most valuable companies by continent
The list also sees the debut of fintech and digital payment platforms, Opay Nigeria and Flutterwave, underscoring the growing influence of these sectors in Nigeria’s economy.
Here are the top 10 ‘most valuable brands’ in Nigeria 2024
Dangote
Dangote Industries Limited, with a BSM Index score of 89.6, has evolved into a diversified conglomerate that significantly impacts Nigeria’s economy through key sectors such as cement, sugar, and petrochemicals. Its recent commissioning of a 650,000 barrels-per-day refinery is set to end Nigeria’s reliance on petrol imports, enhancing self-sufficiency. Under the leadership of Aliko Dangote, the company has been named Nigeria’s Most Valuable Brand for 2024, reflecting its consistent excellence and innovation. The Dangote Foundation, with a $1.25 billion endowment, further underscores its commitment to social responsibility. Dangote continues to shape Africa’s economic future through visionary leadership and transformative initiatives.
MTN
MTN Group Limited, with a BSM Index score of 83.2, is a leading telecommunications company founded in 1994 and headquartered in Johannesburg, South Africa. Under CEO Ralph Mupita, MTN serves 289.1 million customers across 18 markets in Africa and the Middle East. The company offers a wide range of services, including voice, data, fintech, digital, enterprise, and wholesale solutions. Through its Ambition 2025 strategy, MTN aims to drive digital progress and financial inclusion, investing heavily in 5G technology and supporting various community and government initiatives. MTN’s extensive network and strategic focus contribute significantly to digital transformation and innovation in its regions.
Read also: Top 10 biggest companies by market capitalization in 2024
GLO
Globacom Limited, with a BSM Index score of 77.1 and led by CEO Dr Mike Adenuga Jr., is a pioneering force in Nigeria’s telecommunications industry, serving 62.2 million customers. Since its founding in 2003, Glo has been at the forefront of technological advancement, notably with the Glo-1 submarine cable that links Nigeria to the UK, enhancing internet connectivity. Glo’s extensive fibre-optic network spans over 140 cities in Nigeria, offering affordable data services and supporting digital innovations like E-Health and IoT solutions. The company’s expansion into other West African markets and investments in 5G technology underscores its leadership in the region’s digital transformation. Glo is a catalyst for change, driving connectivity and innovation across Africa.
Airtel
Airtel Networks Limited, with a BSM Index score of 76.9 and led by CEO Carl Cruz, has become a key player in Nigeria’s telecommunications industry, connecting over 63.4 million subscribers across urban and rural areas. The company’s extensive network, covering over 70% of Nigeria’s population, provides reliable and fast connectivity, including cutting-edge 5G technology. Beyond its technological impact, Airtel is committed to social development through initiatives like “Adopt-a-School” and “Touching Lives,” which support education and community upliftment. Listed on the Premium Board of the Nigerian Stock Exchange, Airtel’s financial stability underscores its role as a driver of progress and empowerment in Nigeria.
Read also: 10 world’s largest fashion companies by 2024 market capitalisation
Access
Access Holding Plc, with a BSM Index score of 73.8 and led by CEO Roosevelt Ogbonna, is a multinational financial services giant and one of Africa’s leading commercial banks, serving 45 million customers through 730 branches across 17 countries. With total assets of N32.6 trillion as of March 2024, the bank continues to expand its global presence, recently acquiring Standard Chartered’s subsidiaries in several African countries. Access Bank integrates sustainable business practices, focusing on profitable, environmentally responsible, and socially relevant growth. Recognised for its digital innovations and commercial banking capabilities, Access Bank remains a key player in Africa’s financial sector.
Zenith
Zenith Bank Plc, with a BSM Index score of 72.1 and led by CEO Adaora Umeoji, is a leading financial service provider in Nigeria, serving 33 million customers through over 393 branches. With total assets of N24 trillion as of December 2023, Zenith Bank has solidified its position as one of Nigeria’s largest banking groups. Founded in 1990 and listed on both the Nigerian and London Stock Exchanges, the bank has expanded its global presence with subsidiaries in Ghana, Sierra Leone, The Gambia, and the UK. Zenith Bank’s commitment to financial excellence is recognized through numerous awards, reflecting its leadership in the industry across Africa and beyond.
Read also: 10 largest companies in South Africa by 2024 market capitalisation
Coca-cola
Coca-Cola Nigeria Limited, with a BSM Index score of 72 and led by CEO Alfred Olajide, has been a cornerstone of Nigeria’s economy since 1951. Serving 600 million consumers through 8 operating plants, Coca-Cola remains the most valuable beverage brand in the country. The company provides direct employment to over 5,000 people and indirectly supports around 10 million across its value chain. Coca-Cola Nigeria’s commitment to sustainability is evident in initiatives like the Nigeria Plastic Solutions Activity (NPSA) and Project Revive, which tackle plastic waste and promote a circular economy, alongside significant contributions from The Coca-Cola Foundation to community development and empowerment projects.
First Bank
First Bank of Nigeria Limited, with a BSM Index of 70.6, led by CEO Olusegun Alebiosu, is a powerhouse in West Africa’s banking sector. Founded in 1895, it is one of the largest private-sector financial services providers in sub-Saharan Africa, with assets totalling N10.6 trillion as of Q1 2023. First Bank serves over 10 million customers through more than 700 branches and a vast network of 53,000 agent locations across Nigeria. Its influence extends beyond Nigeria, with subsidiaries like FBNBank operating in major West African countries, the UK, Paris, and a representative office in Beijing. First Bank has consistently ranked in the top 10 of Nigeria’s most valuable brands for nine consecutive years, reflecting its enduring legacy of resilience, innovation, and commitment to financial inclusion and progress. With a history spanning 130 years, First Bank continues to be a catalyst for financial empowerment and a symbol of Nigeria’s vibrant future.
Read also: Here are the 10 most valuable Nigerian brands – Brand Finance
BUA
BUA Group, with a BSM Index of 69.8 and led by CEO Abdulsamad Rabiu, reported an annual turnover of N877.9 billion in 2022. Founded in 1988, the conglomerate operates across diverse sectors, including food, cement, and infrastructure. Its cement operations boast a combined capacity of 11 million metric tonnes per annum, and the group has a significant presence in port operations and real estate. BUA Foods Plc is noted as the most profitable consumer goods company in Nigeria, and the group is expanding with Nigeria’s largest Plaster of Paris production plant, set to have a capacity of 2,000 tons per day.
GTCO
Guaranty Trust Holding Company Plc (GTCO), with a BSM Index of 69.2 and led by CEO Segun Agbaje, manages total assets of ₦9.69 trillion as of 2023. Founded in 1990, GTCO operates 230 branches in Nigeria and extends its services across 12 countries. The company has diversified into payment services, pension management, and asset management, with a workforce of over 12,000. Recognized for its innovation and corporate governance, GTCO has received awards such as “The Best Banking Group” and “Best Digital Bank in Africa.” It continues to lead in reshaping financial services and maintains a top 10 position in the Top Brand League table.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
