Olufemi Adeyemi
Dangote Industries Limited and MTN Nigeria have been recognized as Nigeria's 'Most Valuable Brand.' Following an evaluation by 'Top 50 Brands Nigeria,' Dangote Industries secured the top position in the assessment of leading brands for the year.
For the seventh consecutive year, Dangote Industries Limited has reaffirmed its status as Nigeria's most valuable brand, surpassing other leading names such as MTN, Airtel, Access Bank, and Globacom.
The recent TOP 50 BRANDS NIGERIA® rankings, which annually honors the most influential and valuable brands in the nation, confirmed this achievement.
Following closely behind is MTN Nigeria, which not only occupies the second overall position but has also been recognized as the Most Popular Brand in the country for the year, as per the Top-of-Mind (TOM) survey. MTN's strong connection with consumers and its extensive recognition underscore its significant influence in the telecommunications industry and beyond.
Globacom Nigeria, a prominent multinational telecommunications company known for its innovative offerings and dedication to progress, secured the third position this year. Its consistent presence among the top brands highlights its vital contribution to Nigeria's digital and technological growth.
Airtel Nigeria, another major player in telecommunications, claimed the fourth spot, while Access Bank rounded out the top five, leading the Banking & Financial Services sector.
The organizers remarked, “This year’s list showcases the resilience, innovation, and lasting significance of brands that continue to influence Nigeria’s economy, especially during challenging times.”
A noteworthy aspect of this year’s rankings is that seven out of the top ten brands are Nigerian, highlighting the resilience and global competitiveness of local brands, many of which have expanded internationally.
Moreover, it is commendable that seven of the top brands have maintained their positions from the previous year. This consistency reflects their ongoing relevance, strong market presence, and adeptness in navigating the complexities of the Nigerian business landscape.
This year, Nigerian brands occupy 24 positions on the top brands list, while international brands account for 26, representing 52% of the total.
The 2024 edition of the list introduced two new brands, Opay Nigeria and Flutterwave, marking their first appearance in the annual Top 50 assessment. Their inclusion underscores the increasing impact of fintech and digital payment solutions in shaping the economic landscape of Nigeria.
Additionally, 14 brands retained their positions from the previous year, demonstrating their steady performance and the trust they have earned from consumers.
The presentation also highlighted the 10 Brands to Watch, which are dynamic and emerging brands that, while not yet part of the Top 50, exhibit significant visibility and potential. Notably, 9 out of these 10 brands are Nigerian.
During the public presentation, Taiwo Oluboyede, CEO of TOP 50 BRANDS NIGERIA®, praised the brands for their remarkable resilience, especially amid current economic challenges. “These brands truly deserve recognition, particularly in these times. The past year has been difficult for many, with some businesses relocating and others struggling to survive.
Nevertheless, most of these brands have exemplified the resilient spirit of Nigeria by navigating through adversity and maintaining optimistic outlooks for the future,” he stated. “As the saying goes, tough times do not last, but tough individuals do. It is during such periods that the distinction between the strong and the weak becomes evident, as these brands have demonstrated.” Oluboyede concluded.
The 2024 TOP 50 BRANDS NIGERIA® list celebrates excellence, resilience, and an unwavering commitment to growth. As these brands continue to innovate and evolve, they establish the benchmark for what it means to be a leading brand in Nigeria. We eagerly anticipate their ongoing success and their contributions to Nigeria’s economic advancement in the future.