Dangote Group has emerged the most valuable brand in Nigeria for the third consecutive year.
In the 2020 edition of the Annual Brand Evaluation, ‘Top 50 Brands Nigeria’, Dangote Group led other 50 brands to retain its number one position for the third straight year.
MTN was the second Most Valuable Brand in 2020 and also doubled as the Most Valuable Multinational and Telecom Brand.
In a statement issued on Sunday, the Dangote Group said this was coming just a year after the company was named the most admired African brand in a survey of 100 African best brands.
Taiwo Oluboyede, the Chief Executive Officer of Top 50 Brands, was excited that Nigerian brands maintained their leadership positions despite the challenging situations.
He explained that the achievement is significant because it shows that local 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.