Dangote Group has secured its place as Nigeria’s Most Valuable Brand for a sixth time, achieving an impressive score of 86.2% on the brand strength measurement index (BSM) in Top 50 Brands Nigeria’s 2023 assessment. MTN closely follows with an 85 BSM score, while Airtel Nigeria and Globacom take the third and fourth positions, underlining the telecom sector’s prominence.
Access Bank, Zenith Bank, Coca-Cola, GTCO, First Bank, and BUA Group also featured among the top 10 brands. BUA Group enters the top 10 for the first time with a strong BSM Index of 70.8.
The evaluation report showcases Nigerian-owned brands’ strength, including Dangote, Globacom, Access Bank, Zenith Bank, GTCO, First Bank, and BUA Group. The banking sector dominates the top 10, with 5 entries, and telecommunications follows with 3.
Rite Foods Limited stands out, jumping 14 places to 30th, and Wema Bank debuts in the brand ranking. The report introduces a “Brands to Watch” category, highlighting 10 vibrant brands showing consumer growth potential, although not subjected to the rigorous BSM evaluation.
The breakdown reveals that Banking Services (24%) and Consumer Goods (18%) dominate, followed by Conglomerates, Oil & Gas, Beverages, and Telecom sectors (12% each). The Insurance sector comprises 3 brands, Building & Construction Services, Media, and Electronics each have 2, and Automobile, Agricultural, and Aviation/Logistics have 1 brand each.
It’s important to mention that while these brands received significant recognition in the TOM survey, they did not undergo the rigorous BSM evaluation process.
