TOP 50 BRANDS Nigeria, while announcing the ratings said in a statement on Thursday 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, it said, was a reflection of the consistent excellence of the top brand.
MTN remained a strong contender, securing a close second place with an 85 BSM index score. This year’s third and fourth positions were secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively. Interestingly, this reaffirms the prominence of telecommunication brands, with three out of the top four hailing from this sector.
Five of the top 10 brands were banks, while three were telecoms. Impressively, nine of the 10 were among the top 10 last year, while four maintained their previous positions .
Airtel Nigeria made a remarkable rose to the third place. Also, six brands have consistently maintained a top 10 position for a remarkable 7 years in a row.
The top 10 brands included Access Bank, Zenith Bank, Coca-Cola, GTCO, First Bank, and BUA Group and particularly, the geometric growth by BUA Group into the top 10 for the first time with a strong 70.8 BSM Index deserves special attention.
Overall, 26 or 52% of the 50 brands were multinationals, while 24 or 48% were Nigerian brands.
CEO of Top 50 Brand Nigeria, Taiwo Oluboyede commented: “A brand is like a person with all the traits that defines 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, 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,” he added.
He further stated: “It is not about making pledges anyway; it is about steadfastly living up to them—a commitment that separates the top brands from the rest.”
Banking Services had the largest entries with 12 entrants, representing 24 per cent of the total. Access Bank topped the category. This is followed by the Consumer Goods with 9 brands, that is 18%, with Dufil Prima Foods leading the charge.
Six brands featured in the Conglomerates category, making up 12 per cent, with Dangote Group on top. The Oil & Gas, Beverages, and Telecom sectors each had four brands, with Oando, Coca-Cola, and MTN leading their respective categories.
The Insurance sector had three brands, with AIICO at the forefront. Meanwhile, Building & Construction Services, Media, and Electronics categories had two brands each, featuring Julius Berger, Multichoice and Tecno Nigeria leading their respective categories.
Automobile, Agricultural, and Aviation/Logistics sectors had one brand each —Toyota Nigeria, Olam International, and Air Peace.