Dangote Leads Nigeria’s Most Valuable Brands for 7th Year
By Patience Ikpeme
For the seventh year in a row, Dangote Industries Limited has been named Nigeria’s most valuable brand, once again leading the prestigious TOP 50 BRANDS NIGERIA® rankings.
The annual report, which highlights the most influential and valuable brands in the country, places Dangote ahead of other major brands like MTN, Airtel, Access Bank, and Globacom.
Dangote’s consistent dominance in these rankings underscores its strong market presence and the trust it commands across various sectors. The company’s success is further bolstered by its diverse business operations, which span across cement, sugar, salt, and other key industries, making it a cornerstone of Nigeria’s economy.
Following closely behind Dangote is MTN Nigeria, which not only secured the second position overall but also emerged as the Most Popular Brand in Nigeria, according to the Top-of-Mind (TOM) survey. This recognition reflects MTN’s deep connection with consumers and its significant impact on the telecommunications sector, where it continues to lead in innovation and service delivery.
Globacom, a prominent Nigerian telecommunications company, claimed the third spot in this year’s rankings. Known for its innovative solutions and commitment to technological progress, Globacom’s strong performance highlights its vital role in driving Nigeria’s digital transformation.
In fourth place is Airtel Nigeria, another key player in the telecommunications industry, while Access Bank, a leading financial institution, rounded out the top five, topping the Banking & Financial Services sector. Access Bank’s position reflects its robust financial services and its influential role in the Nigerian banking landscape.
The organisers of the rankings emphasized 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 during challenging times. The CEO of TOP 50 BRANDS NIGERIA®, Taiwo Oluboyede, praised the exceptional performance and resilience of these brands in the face of current economic difficulties.
Oluboyede noted, “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.”
A significant highlight of the 2024 rankings is the dominance of Nigerian brands, with seven of the top ten brands being home-grown. This emphasizes the resilience and global competitiveness of Nigerian companies, many of which have successfully expanded their operations beyond the country’s borders.
In total, Nigerian brands secured 24 spots on the TOP 50 BRANDS NIGERIA® list, while international brands held 26 positions, representing 52% of the total. The list also witnessed the entry of two new brands, Opay Nigeria and Flutterwave, both of which made their debut this year. These new entrants underscore the growing influence of fintech and digital payment platforms in shaping Nigeria’s economic future.
Another notable aspect of the rankings is the consistency among the top brands, with seven of them maintaining their positions from the previous year. This stability reflects their continued relevance, strong market presence, and ability to navigate the complexities of the Nigerian business environment.
In addition to the main rankings, the presentation also highlighted the “10 Brands to Watch” category, featuring vibrant and upcoming brands that, while not yet among the top 50, show significant visibility and promise. This year, nine out of the ten brands in this category are Nigerian, further showcasing the potential for growth and innovation within the country’s business landscape.
The 2024 TOP 50 BRANDS NIGERIA® list is not just a ranking but 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. Their success is a clear indicator of the pivotal role they play in driving Nigeria’s economic development, and their influence is expected to grow in the years to come.
