For the third consecutive year, the pan-African and fully integrated conglomerate, Dangote Group has emerged as the Most Valuable Brand for the year 2020 “Top 50 Brands Nigeria.
Though, still themed Top 50 Brands, however 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organisers earlier in the beginning of 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, 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 don’t just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.”
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 third year is a richly deserved honor. It is a Nigerian industrial powerhouse that is making Africans proud of their endogenous company and product.”
“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 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,” he stated.
According to Prof Iweriebor, big businesses and widely acceptable brands are being built in Nigeria, 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 remain a top business frontier where you are almost certain of high return on your investment.”