Access Bank, Dangote, GTB, Others Take Lead as Nigeria’s Most Valuable Brands in 2023

• The Dangote Group took the top spot as Nigeria’s most valuable brand with an outstanding score
• Other companies featured in the report by Top 50 Brands Nigeria include MTN, Airtel, and Globacom
• The report also ranked Access Bank, Zenith Bank, First Bank, and GTBank as some of the top brands in Nigeria

The 2023 brand perception assessment conducted by To 50 Brands Nigeria unveiled Nigeria’s most valuable companies.

The report says that the Dangote Group, telecommunications giants MTN, Airtel, and Globacom were among the leading brands in the report, entrenching their presence and market dominance in Nigeria.

Dangote Group emerged as Nigeria’s top brand sixth times consecutively after obtaining an aggregate score of 86.2% on the brand strength measurement index (BSM).

Leading companies in Nigeria

Telecoms giant MTN secured the second spot with an 85 BSM index mark.

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BusinessInsider says that the influence of the telecoms industry was evident, with Airtel Nigeria and Globacom clinching the third and fourth positions, respectively.

Top Nigerian banks and consumer goods brands

The banking sector saw Access Bank, Zenith Bank, Coca-Cola, First Bank, and BUA Group ranking among the top 10.

BUA Group took the lead with a BSM score of 70.8

The report stressed the continued dominance of Nigeria-owned brands among the top 10.

The banking services and consumer goods sectors were represented most, followed by some conglomerates.

Taiwo Oluboyede, CEO of Top Brands Nigeria, drew a parallel between brands and human personalities.

He emphasizes the need for brands to fulfill promises to consumers to set them apart and provide them with brand integrity.

Dangote Cement claims top spot, MTN follows in list 10 most valuable companies in Nigeria

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Legit.ng reported earlier that Dangote Cement has emerged as the most valuable company in Nigeria by Market capitalisation as at the end of July 2023.

According to data from the Nigerian exchange, Dangote cement overtook telecom giant MTN, which occupied the top spot in the previous month.

Investopedia defines Market capitalisation as how much a company is worth as determined by the stock market. It is calculated by multiplying the number of outstanding shares by the current market value of one share.

Source: Legit.ng