2023 Top Brands perception assessment of TOP 50 BRANDS NIGERIA, brand and marketing firm, said Dangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year.

This year’s award, which is Dangote’s record 6th time confirms the foremost African indigenous Conglomerate’s unwavering dominance of the domestic brand space.

The rating firm in a statement said that Dangote got an impressive aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, reinforcing its position at the forefront. The score reflects the consistent excellence of the brand.

MTN secured the second place with an 85 BSM index score, while Airtel Nigeria and Globacom, secured BSM index scores of 77.9 and 77 respectively came 2nd and 3rd.

Interestingly, this reaffirms the prominence of telecom brands, with three out of the top four hailing from this sector. Among the Top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank, Globacom were adjudged the Most Popular Brand following the outcome of a Top of Mind (TOM) Survey, where respondents mentioned 10 brands that came to their mind or that they could easily recall.

TOP 50 BRANDS NIGERIA announcing the ratings said, “this annual top brand evaluation provides a qualitative, non-financial assessment of the value of leading corporate brands in the country. It gauges consumers’ perceptions of brands and their impact on overall brand strength, using the Brand Strength Measurement (BSM) index—a model designed to assess a brand’s ability to deliver on its promises from the consumer’s perspective.”

Chief Executive Officer of TOP 50 BRANDS NIGERIA Taiwo Oluboyede, speaking on the outcome of this year’s evaluation, likened brand to a person. He said, “A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone’s name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you.”

“Someone may claim to be the best man in the world, and could even go as far as doing paid advertising to attract attention. However, the real description of the person to you is your experience. Perception about a person could change from like to dislike or the other way round, the same is also true for a brand. That is why promoters go the extra length consistently remain in the target audience like-list” he added.

He elaborated that the onus lies with brand owners and promoters to uphold compelling propositions and consistently deliver on promises. “It’s not just about making pledges anyway; it’s about steadfastly living up to them—a commitment that separates the top brands from the rest,” he stated.

A breakdown of the 2023 evaluation report indicated that Nigerian-owned brands continued to shine among the top 10, with 10 brands. These are Dangote, Globacom, Access Bank, Zenith Bank, GTCO, and First Bank.