By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- For three uninterrupted year, the Pan-African and exclusively integrated conglomerate, Dangote Group has furthermore ensued as the Most Valuable Brand in Nigeria for the year 2020, the aftermath of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has divulged.
However, themed Top 50 Brand, 60 brands were classified as being top of the stack in remembrance of Nigeria’s Independence Diamond Jubilee as declared by the organizers early in the advent of 2020. The coming of Dangote brand as the most valuable for the third time in Nigeria is appearing a year after the company was labeled the most adored African brand, of African continent heritage by consumers in the continent before the telecommunication giant – MTN in a survey of 100 Africa best brands which was published in Johannesburg.
Taiwo Oluboyede – Chief Executive Officer noted “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, stated: “Dangote Group as a brand leader for third year is a richly deserved honor. It is a Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product.”
Nevertheless, the multinationals have more vestibules across-the-board, with 52% an coequal of thirty one brands out of the sixty. This success by Nigerian brands is considerable in many ways, having 70% of the top 10 being Nigerians. It exhibits that, our locally produced brands are always unfolding and fulfilling spirited the more by the
“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.
He asserted that; big corporations and widely favorable brands are being composed here, contesting the status quo and assuming management responsibilities across diverse 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.”
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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