Top 50 Brands Nigeria’s 2023 brand perception assessment revealed Nigeria’s most valuable firms.
According to the survey, the Dangote Group, as well as telecommunications behemoths MTN, Airtel, and Globacom, were among the leading brands in the report, cementing their position and market domination in Nigeria.
Dangote Group was named Nigeria’s top brand for the sixth time in a row, with an aggregate score of 86.2% on the brand strength measurement index (BSM).
MTN, the world’s largest telecommunications company, came in second place with an index score of 85.
According to BusinessInsider, the telecoms industry’s impact was clear, with Airtel Nigeria and Globacom finishing third and fourth, respectively.
Access Bank, Zenith Bank, Coca-Cola, First Bank, and BUA Group were among the top ten in the banking sector.
With a BSM score of 70.8, BUA Group took the lead.
The survey emphasized Nigerian-owned firms’ continued dominance among the top ten.
The banking and consumer goods sectors were the most heavily represented, followed by a few conglomerates.
Top Brands Nigeria CEO Taiwo Oluboyede drew a link between brands and human characteristics.
He underlines the need of brands fulfilling consumer commitments in order to differentiate themselves and create brand integrity.
Dangote Cement is the most valuable company in Nigeria, with MTN coming in second.
As previously reported, Dangote Cement has emerged as Nigeria’s most valuable firm by market capitalisation as of the end of July 2023.
According to Nigerian exchange data, Dangote cement surpassed telecom company MTN, which held the top rank the previous month.
According to Investopedia, market capitalisation is the value of a firm as decided by the stock market. It is computed by multiplying the current market value of one share by the number of outstanding shares.