Survey Rates Dangote Most Valuable Brand

For the first time since the advent of the Top 50 Brands survey in Nigeria, Dangote, a wholly Nigerian brand, has been voted the most overall valuable brand in the 2018 Top 50 Brands, replacing MTN Nigeria at the top with 87.4 points against 80.8 point garnered by MTN.

According to the organisers, Dangote, which, had in previous editions, held the position of most valuable Nigerian brand, having emerged the most valuable brand overall, has naturally emerged the most valuable Nigerian brand.

However, MTN Nigeria dropped to the second place as the most valuable multinational.

Others top brands apart from Dangote and MTN include Glo-77.94, GTBank- 77.59, Coca-Cola Nigeria- 73-69.2, First Bank Nigeria Limited- 69.2, Unilever Plc- 67.5, UBA- 66, Zenith Bank – 65.9 and Dufil Prima Foods- 65.1.

Out of the fifty top brands in Nigeria, 23 of them were Nigerians while 37 were multinationals. This means that 46 per cent of wholly Nigerian brands mad the 2018 ranking, while multinationals amass 54 per cent.

This year survey also saw Promasidor becoming the highest gainer by jumping 15 points upward, while second highest gainers are BUA, 9mobile and Olam with 12 points upward each.

Another significant feature in 2018 survey was the entry of Fidelity Bank for the first time in the survey.

Also, Conoil, Channels TV, Union Bank of Nigeria, Access Bank Plc, Chi, Toyota and GTBank, all maintained 2017 positions in 2018.

Meanwhile, Stallion Group returned to ranking after it previous absence.

In a statement, the CEO, Top 50 Brands, Taiwo Oluboyede said: “In the selection and rating of the 50 top brands, we used the Brand Strength Model (BSM). It is a model that measures a brand’s ability to deliver its promise to the consumers from the consumer’s point of view. The model uses basic qualitative elements, including a survey to determine this.

“It starts with a test of people’s knowledge and affinity with brands operational in Nigeria. We had a survey called ‘Top on the mind’ where people tell us brands that easily come to their mind or they can recall.”

According to him, other variables in the model included innovation, which is a test of product/service delivery, Innovation in customer or media, Quality, which means checking some factors that enhance consumer’s confidence in product delivery and category leadership, and this means a classification of brands within their industry.

He further stated that others are online engagements, national spread and expansion, and strength in corporate social responsibility.