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Top 50 Brands: Dangote Now The Most Valuable Brand In Nigeria

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Dangote has emerged as the most valuable brand among the top 50 brands in Nigeria for 2018 unveiled at the weekend in Lagos. This is coming barely three months after the brand was adjudged the most admired brand of African origin by Consumers in a brand rating coordinated by South Africa based Brand Leadership in conjunction with Johannesburg Stock Exchange (JSE)

Brand Nigeria, the Agency that coordinated the survey in Nigeria, in its report lauded the efforts of the handlers of the Dangote Brand because this is the first time a Nigerian brand would be achieving the feat since 2013.

Unveiling the list of the top 50 brands at an event attended by top executives of leading corporate organizations in the country as well as stakeholders in Marketing and Advertising Industry, Mr. Taiwo Oluboyede, the Head of Brand Nigeria explained that 46 percent of the top brands amounting to 23 are Nigerian brands.

Giving the highlights of the brands rating, he stated that Promasidor Nigeria Limited emerged the highest gainer jumping 15 points from last year, the followed by the trio of BUA, Nine Mobile and Olam all of which moved 12 points from last year position, while seven brands, Conoil, Channels TV, Union Bank, Access Bank, Chi, Toyota, and GTBank maintained their positions.

He stated further that Fidelity bank came as a first entrant this year and Stallion Group making a fresh return to the top 50 brands this having exited before.

The top 50 brands in Nigeria, Soboyede maintained are the brands that have succeeded in delivering their promises to the consumers. “They are fast growing in value and they are the drivers of our economy. The top brands this year are those that have been able to analyse needs, see opportunities by creating solutions to them and communicating same to the consumers.

“They have also become so good at it that the consumers often refer to them with the name of the need they meet that is their products or services. These brands have found how to deliver something special often times.”

Giving insights into how the evaluation of the top 50 brands was carried out, Soboyede said: “we used the Brand Strength Model (BSM index). It is a model that measures a brand’s ability to deliver on its promise to the consumers from the consumer’s point of view. The model uses basic qualitative elements and there are seven variables that goes into the BSM model”.

According to the variables starts with a test of people’s knowledge and affinity with the brands operational in Nigeria. We had a top on the mind survey where people tell us brads that easily come to their mind or brand they can recall.

“Other variables in the model are innovation-this is a test how innovative a brand service delivery is; Quality-this checks some factors that enhance consumer’s confidence in product delivery; Category Leadership-this is a classification of brands within their industry; Online engagements-this checks how active the brand’s online platforms are and how engaging it has been from last evaluation; National Spread-this checks operational presence of a brand across the country.”

Chief Corporate Communication Officer of the Dangote Group, Anthony Chiejina said the management was not surprised at the ranking because the company has continuously deepened and delivered on its core values is to be a world-class enterprise that is passionate about the quality of life of the people and giving high returns to stakeholders.

“And this philosophy is driven by values, which include customer service, entrepreneurship, excellence and leadership. In any of our subsidiaries, the focus is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large-scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

“The expansion of our business especially the Cement which has operations in 14 African countries including Nigeria, Benin, Ghana, Senegal, South Africa and Zambia, among others has added to the popularity of our company and the products, Mr. Chiejina stated.

It would be recalled that back in July, the Dangote brand came atop in the ranking of 100 best brands in Africa themed “Brand Africa:100”, the sixth edition announced in Johannesburg, South Africa.

The Brand leadership in the ranking list said of Dangote brand “Nigerian industrial brand Dangote is the number one African brand recalled when consumers are prompted about the continent (Africa) of origin while the South African telecommunications brand MTN is the number one African brand spontaneously recalled irrespective of the continent of origin.

The United States sports and fitness brand, Nike, is the overall brand in Africa spontaneously recalled by consumers. The Brand Africa 100 ranking is based on a survey among consumers 18 years and older, conducted in 23 countries across Africa. The countries, representing all African economic regions, collectively account for 75% of the population and the 74% of the GDP of Africa.

African brands rose slightly to account for 17% of the Top 100 brands in Africa, non-African brands retained their firm position in Africa with 83% share of the Top 100 most admired brands in Africa. Brands from Europe leads the table with 40%, North America at 24% and Asia 19%. West Africa 6% with only Nigerian brands and Southern Africa 6%.

The Top 100 is dominated by technology and electronic brands (29%), consumer (non-cyclical) (19%), apparel (15%), automobile (8%), food (7%) and sports & fitness (5%) categories are the top categories.

BIG STORY

Killer Juice: Don’t Take Products Not Approved By NAFDAC, Lagos Warns Residents

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The Lagos State Commissioner for Information, Mr Gbenga Omotoso, on his part, advised residents to check the expiry dates of the products they consumed.

Omotoso, in an interview with one of our correspondents, also urged residents of the state not to consume products that were not certified by NAFDAC.

Reacting to the story of the sales of expired citric acid powdered drinks in Kano State, the commissioner said the state consumer protection agency would not allow the ‘killer drink’ to be sold in the state.

He said, “We have a consumer protection agency saddled with the responsibility of curbing fake products and prosecuting people selling such.

“People must watch out for expiry dates on the products they consume and they have to ensure that such products are NAFDAC approved.”

Omotoso also assured residents of the state that there was no need to panic about the ‘killer drink.’

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BIG STORY

BREAKING: IGP Disbands Police Monitoring Units In Lagos, Port Harcourt Over Complaints Of Harassments

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Acting Inspector-General of Police, Alkali Baba, has ordered the immediate disbandment of the IGP Monitoring Satellite Offices in Lagos and Port Harcourt over complaints of harassment and operating beyond their briefs by Nigerians.

Speaking at his maiden meeting with Command Police Commissioners and zonal AIGs, in Abuja on Thursday, Baba said the IGP Monitoring Units will be re-organized.

The development is coming 24 hours after the Police Service Commission asked the IGP to check the proliferation of police investigating units.

The commission stated that the units were bringing huge embarrassments to the force.

The commission Chairman, Musiliu Smith, said there must be proper and close monitoring of police investigative units to stem the atrocities its officials committed in the line of duty.

The retired IGP had also stressed the need to quickly treat cases of misconduct by the officers “so that those found wanting are brought to book”.

Details later…

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BIG STORY

JUST IN: Obaseki Blasts Finance Minister, Insists FG Printed N60bn

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Edo Governor Godwin Obaseki has faulted the Minister of Finance, Budget, and National Planning, Zainab Ahmed, for denying that the Federal Government printed N60 billion in March to support allocation to states.

Obaseki has said he won’t join issues with the Federal Government over his claim that N60 billion was printed in March to support allocation to states.

Obaseki had lamented the fiscal state of the nation, stating Nigeria is in financial trouble.

While speaking at the Edo state transition committee stakeholders engagement over the weekend, he claimed the Federal Government printed money to bridge FAAC allocation.

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” he had said.

But it was reported on Wednesday the Federal Government faulted his claim, dismissing it as untrue.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said Obaseki’s claim was very sad because it was “untrue”.

Reacting to the counter-reaction on Thursday, Obaseki, through his official Twitter handle, said: “We believe it is our duty to offer useful advice for the benefit of our country

“The Minister of Finance, Budget and National Planning, @ZShamsuna should rally Nigerians to stem the obvious fiscal slide facing our country.

“Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality so as to prevent the prevailing economic challenge from degenerating further.

“We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately time shall be the judge of us all.”

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