For the seventh consecutive year, Dangote Industries Limited has again emerged as the Most Valuable Brand in Nigeria, leading other top brands like MTN, Airtel, Access Bank, Globacom.
The latest report of Top 50 Brands Nigeria, an annual celebration of the most influential and valuable brands in the country, revealed this.
Dangote is immediately followed by MTN Nigeria, which not only ranks second overall but also emerged as the Most Popular Brand in the country for the year, according to the Top-of-Mind survey.
MTN’s strong consumer connection and widespread recognition highlighted its significant impact on the telecommunications sector and beyond.
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At the third place this year is Globacom Nigeria, a leading Nigerian multinational telecommunications company known for its innovative solutions and commitment to progress.
Globacom’s consistent ranking among the top brands indicate its significant role in Nigeria’s digital and technological advancement.
Airtel Nigeria, another key player in the telecommunications sector, secured the fourth position.
Access Bank ranked in the fifth position, topping the Banking and Financial Services sector.
The organisers stated that: “This year’s list is a testament to the resilience, innovation, and enduring relevance of brands that continue to shape Nigeria’s economy, particularly in challenging times.
“A significant highlight this year is that seven of the first 10 brands out of the 50 are Nigerian, emphasising the resilience and global competitiveness of home-grown brands, most of which had spread abroad.
“Additionally, it is impressive to note the consistency among the top brands, with seven of them maintaining their positions from last year.
“This stability reflects their continued relevance, strong market presence, and ability to navigate the complexities of the Nigerian business environment.”
Nigerian brands accounted for 24 spots on the top brands list this year, while international brands hold 26 positions, representing 52 percent of the total.
The 2024 list also witnessed the entry of two new brands: Opay Nigeria and Flutterwave.
These new entrants highlight the growing influence of fintech and digital payment platforms in shaping Nigeria’s economic future.
Notably, 14 brands maintained their positions from the previous year, reflecting their consistent performance and consumer trust.
Another set of notes in the presentation are the 10 Brands to Watch.
These are vibrant and upcoming brands, who, though not among the 50 Top Brands yet, have significant visibility and promises.
This year, nine of the 10 Brands to Watch are Nigerian.
During the public presentation, Taiwo Oluboyede, CEO of TOP 50 BRANDS NIGERIA, commended the brands for their exceptional performance resilience, particularly in the face of the present economic challenges.
Oluboyede said: “These brands deserve commendation, really, especially in times like this.
“The past year has been tough for many businesses, with some relocating out of Nigeria and others barely holding on.
“However, the majority of these brands have shown the resilient Naija spirit by weathering the storms and standing strong with positive projections into the future.
“As the saying goes, tough times never last, but tough people do. It’s in times like this that you differentiate between the boys and the men, as these brands have shown.
“The 2024 TOP 50 BRANDS NIGERIA list is a celebration of excellence, resilience, and the relentless pursuit of growth.
“As these brands continue to innovate and adapt, they set the standard for what it means to be a top brand in Nigeria.
“We look forward to witnessing their continued success and contribution to Nigeria’s economic development in the years to come.”
