Dangote emerge Nigeria’s most valuable brand: rating
Brand Nigeria, organisers of the Top 50 Brands, has rated Dangote as the most valuable brand in Nigeria for 2018.
This is coming barely three months after the firm was adjudged the most admired brand of African origin by consumers in a brand rating coordinated by the South Africa-based Brand Leadership in conjunction with Johannesburg Stock Exchange, a statement said.
According to the agency, this is the first time a Nigerian brand would be achieving the feat since 2013.
The Head of Brand Nigeria, Mr Taiwo Oluboyede, was quoted as saying that 46 per cent of the top brands amounting to 23 were Nigerian brands.
He stated that Promasidor Nigeria Limited emerged the highest gainer, jumping 15 points from last year; followed by the trio of BUA, 9-mobile and Olam, while seven brands, Conoil, Channels TV, Union Bank of Nigeria Plc, Access Bank Plc, Chi, Toyota Nigeria Limited, and GTBank maintained their positions.
He stated further that Fidelity Bank Plc came as a first entrant this year and Stallion Group made a fresh return to the top 50 brands this year, having exited before.
Soboyede maintained that the top 50 brands had succeeded in delivering their promises to the consumers, adding, “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 analyse 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.”
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.”
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