For the third consecutive year, Dangote Group has emerged the Most Valuable Brand in Nigeria, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.
A brief summary of the 2020 report reveals that Dangote Group topped the list of the Most Valuable Brand 2020, followed by MTN which also doubled as the Most Valuable Multinational and Telecom Brand.
The Dangote Group noted in a statement issued on Sunday that this was coming a year after the brand was named the most admired African brand of African continent origin, in a survey of 100 African best brands.
The Chief Executive Officer, Top 50 Brands, Taiwo Oluboyede, expressed his excitement that Nigerian brands had taken the shine by maintaining their leadership positions, with seven of the top 10 brands being Nigerian.
According to him, this achievement by Nigerian brands is significant in that it shows that locally made brands are constantly evolving and becoming more vibrant by the day.
Oluboyede said, “They have not relented in making attractive value proposition that endear 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.”
The CEO remarked that many of these Nigerian brands were not just “local champions” but had also become multinationals, expanding across other African countries and beyond.
“You can see this in brands like Access Bank, Globacom, United Bank for Africa, Guaranty Trust Bank, Zenith Bank, First Bank, Dangote Group and so on,” Oluboyede said.
He added that this was a huge plus to the Nigerian business space and a strong point of encouragement to foreign investors that the country remained a top business frontier where there is certainty of high return on investment.