Dangote Industries Limited has been the most valuable brand in Nigeria for the past seven years, outpacing other well-known brands like MTN, Airtel, Access Bank, Globacom, and many more.
This was disclosed in the most recent report of the TOP 50 BRANDS NIGERIA® rankings, an annual celebration of the most valuable and influential brands in the nation.
Dangote is closely followed by MTN Nigeria, which, according to the Top-of-Mind (TOM) survey, not only comes in second overall but also wins the title of Most Popular Brand in the nation for the year. MTN has a major impact on the telecoms industry and beyond, as seen by its strong customer relationship and broad recognition.
Globacom Nigeria, a well-known global telecommunications firm based in Nigeria that is renowned for its creative solutions and dedication to advancement, comes in third position this year.
Globacom has played a vital role in Nigeria’s technology and digital growth, as evidenced by its continual ranking among the top brands.
Fourth place went to Airtel Nigeria, another significant participant in the telecom industry. With the highest ranking in the Banking & Financial Services sector, Access Bank came in at number five.
According to the organizers, “this year’s list is a testament to the tenacity, inventiveness, and enduring relevance of brands that continue to shape Nigeria’s economic, especially in trying times.”
The fact that seven of the top 50 brands this year are from Nigeria highlights the strength and competitiveness of local firms, the majority of which have expanded overseas.
It’s also interesting to see how consistent the top brands are—seven of them are holding the same positions as the previous year. Their stability is a result of their ongoing relevance, robust market presence, and aptitude for navigating the nuances of the Nigerian business landscape.
This year, Nigerian brands occupy 24 spots on the list of the top brands, while international brands have 26 spots, or 52% of the total.
Two new brands, Opay Nigeria and Flutterwave, which debuted in the yearly Top 50 evaluation, were also added to the 2024 list.
These recent additions demonstrate how fintech and digital payment systems are becoming more and more important in determining Nigeria’s economic destiny.
Remarkably, 14 brands held their rankings from the prior year, demonstrating their steady performance and customer confidence.
The 10 Brands to Watch are a different set of notes in the presentation. These are dynamic, up-and-coming brands that have great exposure and promise but are not currently among the 50 Top Brands.
Nine out of the ten brands to watch this year are from Nigeria.
Taiwo Oluboyede, CEO of TOP 50 BRANDS NIGERIA®, praised the brands at the presentation to the public for their remarkable performance resilience, especially in light of the current economic circumstances.
“These brands truly deserve praise, particularly during these trying times.
Many businesses have had a difficult year, with some having to relocate out of Nigeria and others barely making it.
But most of these companies have demonstrated the tenacious Naija spirit by enduring hardships and remaining steadfast with optimistic outlooks for the future. “Tough times never last, but tough people do,” the speaker continued.
As these companies have demonstrated, it’s during times like these that men and boys are distinguished from one another.Oluboyede concluded.
The 2024 TOP 50 BRANDS NIGERIA® list honors achievement, tenacity, and the unwavering quest of expansion. These companies have established the benchmark for what it takes to be a leading brand in Nigeria as long as they keep innovating and adapting.
As at the conclusion of this report, we hope to see their ongoing success in the upcoming years and contribution to Nigeria’s economic growth.
