Telecommunication provider, MTN has led the 2017 Top 50 Brands Nigeria for its innovation, Corporate Social Responsibility (CSR), online engagement, National spread, and Brand popularity. The brand is followed by Dangote Group, Coca-Cola, GTBank, among others in the ranking.
The Chief Executive Officer of Top 50 Brands Nigeria, Taiwo Oluboyede, at the unveiling of this year’s edition in Lagos said the brands presented are those that have weathered the storm of recession, achieved remarkable growth, with better understanding of the market, worked towards meeting the expectations of discerning consumers, delivering on their promises and many gaining equity even in difficult times.
“To achieve the 50 top brands in Nigeria, we use the Brand Strength Measurement (BSM), a specially designed model that takes basic qualitative elements to determine brand valuation and strength. The model checks consumer’s knowledge of a brand using the top on the mind survey. It’s largely observed that consumers were able to recall brands they relate with often, whose product/services they also use”. he explained.
Speaking further on the factors considered for the ranking, Oluboyede explained that each brand was weighed based on its popularity; category leadership which is based on brands positioning in its industry; innovation; quality element, which means an approval or endorsement from industrial and regulatory agencies or players stating that the goods or services are of good quality; online engagement; national spread and CSR activities.
According to the report released by the organisers, “MTN Nigeria retains its top position again; this telecoms giant emerged as the most valuable in the annual rating with 80.4 point, a 7.1% reduction from the record 86.1% last year.
“Dangote Industries had a record jump among the top 10 brands, jumping 5 places to occupy the 2nd position and the most valuable Nigerian brand for 2017”, it reads.
The report further states that 50% of the top brands are home grown. According to it, “25 of the 50 top brands for 2017 are home grown; this is the highest we have had since 2013. This shows an improvement in performance among home grown brands, particularly in the midst of a troubling recession which the country just got out from. Many of these brands have even spread to other African countries and beyond; such brands include Dangote Industries, GTBank, Channels Television and Shoprite”.
Looking at it from industry categorization perspective, Consumer Goods is led by Dufil Prima, producers of Indomie Noodles on the number 8 spot, followed by Nestle on number 9, Unilever on number 11, Friesland Campina WAMCO on number 26, Cadbury on number 31, P&G on number 32, Promasidor on number 40 and PZ on number 46.
The banking & financial services category is led by GTBank at number 4, immediately followed by First Bank at number 5 and Zenith Bank at number 6. UBA is ranked number 12, Access Bank number 14, Union Bank number 23, Diamond Bank number 27, Heritage Bank number 30, Axa-Mansard number 37, and Stanbic IBTC number 45.
For Food & Beverages, Coca-Cola led the ranking chart at number 3, followed by Guinness on number 13, Chi Limited at number 15, Nigerian Breweries number at 17, Seven Up at number 21, and Golden Penny (Flour Mills) at number 29.
Dangote Group at number 2 spot led the Conglomerates brands in the country while UACN at number 36 emerged second in that category, while BUA Group, Coscharis, Dana and Honneywell at numbers 41, 43, 47, and 48, respectively followed suit.
The Oil and Gas has six entries led by Total which occupies number 25, followed by Shell at number 35, 11Plc at number 39, Oando at number 42, Forte Oil at number 49 and Conoil at number 50.
Media had Multichoice on number 18 as the leader in that space, followed by Punch on number 19, Channels TV on number 20, and DAAR Communications Plc on number 44.
In the Telecoms space, MTN led the table at number 1 followed by Glo on number 7, Airtel on number 10 and 9Mobile on number 34.
Shoprite emerged the only brand in the Retail category at number 28. Same was for, Olam on number 38 under the Agriculture category, Toyota Nigeria at number 16 under the automobile category and Samsung on number 22 as the only Electronics brand on the table.
At number 24, Julius Berger led the Building & Construction Category while Lafarge Africa Plc emerged second at number 33.