Dangote rated 2020 most valuable brand
For the third consecutive year, Dangote Group has emerged as the Most Valuable Brand in Nigeria for the year 2020, in this year’s edition of the “Top 50 Brands Nigeria”.
The emergence of Dangote brand as the most valuable for the third time in Nigeria is coming a year after the company was named the most admired African
Brand, of African continent origin, by consumers in the continent ahead of the telecommunication giant, MTN, in a survey of 100 Africa best brands which was announced in Johannesburg
In a statement by Top 50 Brands, Taiwo Oluboyede, Chief Executive Officer said: “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, said: “Dangote Group as a brand leader for third year is a richly deserved honor.
It is an Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product.”
However, the multinationals have more entries overall, with 52 percent, an equivalent of 31 brands out of the 60.
“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”, Iweriebor stated.
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