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Dangote Emerges Most Valuable Brand For 2020

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For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.

Though, still themed Top 50 Brand, however, 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organizers earlier at the beginning of the year.

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, made available to journalists ahead of the formal public presentation of the brands yesterday, 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 the third year is a richly deserved honor.

It is a 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.

This achievement by Nigerian brands is significant in many ways, having 70 percent of the top 10 being Nigerian. It shows that our locally made brands are constantly evolving and becoming more vibrant by the day.

“They have not relented in making attractive value proposition that endears 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.“, he stated.

According to him; Big businesses and widely acceptable brands are being built here, challenging the status quo, and taking leadership roles across various industries and areas of operations. “They are not just local champions, many of these Nigerian brands have also become multinationals, expanding aggressively across other African countries and beyond.

You can see this in brands like Access Bank, Globacon, UBA, GTBank, Zenith Bank, First Bank, Dangote Group, etc.

“This is a huge plus to the Nigerian business space and a strong point of encouragement to foreign investors that Nigeria still remains a top business frontier where you are almost certain of a high return on your investment.”

A brief summary of the 2020 report as published on their website, reveals that Dangote Group topped the list of the Most Valuable Brand 2020. This is followed by MTN which also doubles as the Most Valuable Multinational and Telecom Brand.

In third place is Globacom, another proudly Nigerian brand. Glo made an impressive achievement this year by the emerging top in the popularity survey.

The popularity test, which is done through a Top of the Mind (TOM) survey is the first and most important variable in the annual top brands evaluation.

Glo achieved an 89% mention from respondents during the TOM survey. This made Globacom, the Most Popular Brand in Nigeria 2020.

Coca-Cola Nigeria emerged in fourth place and effectively topped the Beverages category, followed by GTBank in 5th Place, topping the Banking and Financial Services brands.

Banking and Financial Services had the highest number of brands in the top 10, with five brands. This is followed by the telecoms with three brands.

Seven brands among the top 10 had maintained the top 10 positions for the past four years consecutively. Five brands among the top 10 maintained the previous year’s positions.

Overall, 48 Percent, that is an equivalent of 29 brands are Nigerian while there are 31 multinational.

The banking & Financial Services had 14 brands, equivalent of 23.3 percent, followed by the Consumer Goods Category with 12 brands. This is led by Dufil Prima Foods.

Conglomerates and Oil & Gas categories have six brands each, with Dangote and Oando topping them respectively.

Telecoms and Beverages had four brands each. MTN and Coca-Cola emerged top in these two categories respectively.

Media and Automobile had three brands each, with Channels TV and Toyota Nigeria topping the categories

Construction Services, Electronics, Agriculture, and Retail categories had 2 brands each with Julius Berger, Samsung Electronics, FlourMills of Nigeria Plc, and Jumia, a first entrant topping these categories respectively.

Seven brands made the annual ranking for the first time, these are Sterling Bank Plc, Seplat Petroleum, Daraju Industries, TGI Group, Transsion holding, Jumia Nigeria, and AIICO Insurance. Julius Berger Nigeria Plc emerged the higher gainer this year, while 10 brands among the 60 maintained their 2019 positions.

Detailed report with profiles of the top brands and the process, including the full report is available for download on their website

It would be recalled that Dangote Group, from Nigeria for the second year emerged as the most admired African brand, of African continent origin, by consumers in the African continent.

According to South Africa-based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.

In the top 100 list, the United State sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers.

South African telecoms brand MTN is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin.

However, when consumers are prompted to recall the most admired African brand, Dangote retains the number one position. Just last year Dangote brand was named the most valuable brand among the top 50 brands in Nigeria for 2018 by Brand Nigeria.

Further analysis of the ranking indicates that Overall, the 2018/19 Brand Africa 100 list, which is calculated from 15,000 brand mentions illustrates a very diversified range of brands in Africa and shows a year on year consistency with 80 percent of the top 100 brands have been in the top 100 Most Admired Brands in previous years.

Overall, African brands faltered to an all-time low 14 percent share of the top 100 most admired brands in Africa. However, MTN (South Africa), Dangote (Nigeria), and Safaricom (Kenya) are the most admired highest listed brands on sub-Sahara’s leading bourses, the JSE, Nigeria Stock Exchange, and Nairobi Securities Exchange respectively.

Faced with a relentless focus on the African opportunity and investment by non-African brands, Africa’s share of the most admired brands has been rapidly declining over the past three years from a high of 25 percent in 2013/14 to lows of 16 percent in 2015/16, 16 percent in 2016/17 and 17 percent in 2017/18.

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BIG STORY

Court Remands Woman For Allegedly Stabbing Husband To Death In Ibadan

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An Iyaganku Chief Magistrates’ Court yesterday ordered the remand of a housewife, Olajumoke Olalere, 33, at Agodi Correctional facility, Ibadan, for allegedly stabbing her husband to death.

The Chief Magistrate, Mrs Olabisi Ogunkanmi, who did not take the defendant’s plea for lack of jurisdiction, ordered her remand pending the legal advice from the Directorate of Public Prosecution (DPP).

She, thereafter, adjourned the case until March 5, 2025 for mention.

According to The News Agency of Nigeria (NAN), the police charged Olalere with a count of murder.

The prosecutor, Cpl. Akeem Akinloye, had told the court that the defendant on October 30, at 9.00 p.m. allegedly caused the death of her 39-year-old husband, Oluwasegun Tinubu.

Akinloye said the defendant allegedly stabbed her husband with a knife during a disagreement at their house, at Zone 5, Gbelu, Iyana – Agbala, Ibadan.

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BIG STORY

UPDATE: EFCC Grants Former Delta Governor Okowa Bail Over Alleged N1.3trn Fraud

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The Port Harcourt zonal command of the Economic and Financial Crimes Commission (EFCC) has granted administrative bail to Dr. Ifeanyi Okowa, a former governor of Delta State, over allegations of diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023.

Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, after reporting to the Port Harcourt Directorate of the EFCC at the invitation of investigators handling his case.

Sources confirmed that the former governor left the EFCC facility around 9 pm on Wednesday night.

A source under anonymity stated: “He left the facility at about 9 pm yesterday (Wednesday).”

“Okowa is expected to return soon to provide documents and answer more questions before the matter will be charged to court.”

The former governor is accused of failing to account for the 13% derivation funds, as well as an additional N40 billion, which he allegedly claimed to have used to acquire shares in UTM Floating Liquefied Natural Gas (LNG).

Specifically, Okowa is said to have purchased N40 billion worth of shares in one of the country’s major banks, representing an 8% equity stake in the offshore LNG venture.

The funds are also alleged to have been diverted for other purposes, including acquiring properties in Abuja and Asaba, Delta State.

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Oil Marketers Respond To Dangote Refinery Claims, Say SON, NMDPRA Certify Imported Petrol

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The Standards Organisation of Nigeria (SON) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) certify the imported Premium Motor Spirit, popularly called petrol, that is imported into Nigeria, oil marketers have said.

They disclosed this on Thursday in response to claims by the Dangote Petroleum Refinery that off-spec petroleum products were imported into the country by dealers.

On Tuesday, the refinery informed Pinnacle Oil and Gas Limited and other oil marketers that the deregulation of the downstream oil sector should not be used as a justification for the importation of off-spec petroleum products or the undermining of Nigeria’s national interests.

Oil marketers denied this claim on Thursday, with the Managing Director/Chief Executive Officer of Pinnacle Oil and Gas Limited, Robert Dickerman, revealing that his firm signed a 13-year agreement with the Dangote refinery to distribute the refinery’s petroleum products through pipelines.

Dickerman pointed out that independent inspectors, NMDPRA, and SON, among others, “inspect our products, so we can’t bring in off-spec products into this country.”

His position was confirmed by SON, as an impeccable source at the agency told one of our correspondents that the Standards Organisation of Nigeria was involved in the testing of imported petroleum products.

The official added that the organisation operates its own laboratory facility to check if the commodities are off-spec or not.

“Yes, We are involved in the testing of petroleum products when they come into the country. We are involved in that. We have our laboratory facility where these tests are conducted. It’s to ensure if the commodities meet regulatory standards or off-spec,” the official said.

A major marketer also kicked against the claim that dealers import off-spec products into the country, particularly since the downstream oil sector was deregulated by the Federal Government.

“I once told you what we went through when we brought in our imported cargo of petrol. The product underwent a lot of laboratory tests. I know the NMDPRA carries out tests on imported products. They took a sample of our recent import when it was still in the mother vessel at Atlas Cove before it was moved to Apapa.

“At the point of discharge, they took the sample again before allowing us to put it in our tanks. The NMDPRA has certified laboratories that they use. We have our laboratory, but the NMDPRA will not allow you to do your test without them certifying the product by themselves.

“The testing is in three stages, the one in Atlas Cove when the vessel lands in Nigeria. When the product moves to your point of discharge, they will do another test before they allow it into your tanks and aside from that, the day you want to start loading they will carry another test,” the marketer, who spoke in confidence due to lack of authorisation to speak on the matter, stated.

Addressing newsmen in Lagos on Thursday, Dickerman said the clarification became necessary to debunk the statement from the Dangote refinery, which accused Pinnacle of plans to blend substandard petrol in Nigeria.

The Dangote refinery had also said the Pinnacle MD approached it, pleading with the refinery to extend pipelines to its tank farms in order to blend substandard imported petroleum products with its ‘high-quality’ ones.

Reacting, Dickerman described the statement as defamatory, inaccurate, and intentionally misleading.

The managing director said it proposed and invested in pipelines to distribute petroleum products from the Dangote Refinery, saying pipeline transfer is far less costly than distribution by ship or trucking across the country.

According to him, when the project was proposed to Dangote, it wholeheartedly agreed and signed a 13-year interconnection agreement with Pinnacle Oil.

“On November 5, Dangote issued a Press Release titled, ’Pinnacle Oil and Gas FZE: Our Stand’. It is unfortunate and deeply concerning that this release contained several statements that are defamatory, inaccurate and intentionally misleading. Further, it advocated a national policy that would cause severe economic damage to Nigerians by raising the cost of petrol above global market prices and higher than they are today.

“In our effort to further enhance distribution efficiency, we proposed and invested in pipelines to distribute petroleum products from the Dangote Refinery, as pipeline transfer is far less costly than distribution by ship or trucking across the country. When we proposed this project to Dangote, they wholeheartedly agreed and signed a 13-year interconnection agreement with us.

“In addition, Dangote facilitated our process of achieving regulatory approval by writing two Letters of No Objection to the regulator to enable our project to proceed. The agreement to allow us to interconnect our pipeline to them was agreed actually in 2022 and I think it was signed in early 2023. So it was about two years ago that we actually reached this agreement, and it was done very comprehensively, from a commercial and a legal standpoint,” Dickerman stated.

He narrated that a lot of processes had gone into the project since it was signed, including the engineering design for the pipelines, surveying, getting the right of way, and letters of no objections from anyone who could be affected by the pipeline.

“There’s a whole bunch of stages to a project. This is not unlike any other construction project. It’s a very simple and straightforward process. This was done first. There was never a hint that this was not a good deal for both parties ever. So, it’s just not true that they opposed it. It’s simply not true that they opposed it. They supported it,“ the Pinnacle boss stated.

This came as the Nigerian National Petroleum Company Limited denied a video clip that claimed the oil firm was selling dirty fuel from an NNPC Retail outlet at Keffi Flyover.

“We have carried out spot checks at all our outlets and found this claim to be false. The product was not, and could not have been bought from any NNPC Retail outlet as the company does not dispense petroleum products into bottles or jerrycans as displayed in the video,” it said in a statement issued by its spokesperson, Olufemi Soneye.

It added, “NNPC Retail Ltd does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high quality, safe, and reliable petroleum products are available at its stations nationwide.

“Members of the public should discountenance the spurious claims made in the video and be wary of selfish and unpatriotic elements pushing such a narrative as they do not mean well for the country.”

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