Business

Dangote emerges Most Valuable brand for 2020

Published

4 years ago

November 15, 2020

For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.

Though, still themed Top 50 Brand, however 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organizers earlier in the beginning of the year.

The emergence of Dangote brand as the most valuable for the third time in Nigeria is coming a year after the Company was named the most admired African

brand, of African continent origin, by consumers in the Continent ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands which was announced in Johannesburg.

In a statement by Top 50 Brands, made available to journalists ahead of the formal public presentation of the brands yesterday, Taiwo Oluboyede, Chief Executive Officer said “In this special edition of the annual top brands evaluation, I am glad to inform you again that Nigerian brands have taken the shine by maintaining their leadership positions. We are particularly delighted that locally made brands doesn’t just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.”

Commenting on Dangote’s emergence as the most valuable brand for the third year running, Prof. Ehiedu Iweriebor of the

Department of Africana and Puerto Rican/Latino Studies, Hunter College, City University of New York, said: “Dangote Group as a brand leader for third year is a richly deserved honor.

It is an Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product.”

However, the multinationals have more entries overall, with 52 percent, an equivalent of 31 brands out of the 60.

This achievement by Nigerian brands are significant in many ways, having 70 percent of the top 10 being Nigerian. It shows that our locally made brands are constantly evolving and becoming more vibrant by the day. “They have not relented in making attractive value proposition that endear the consumers to them, to the point that many consumers are now contended with Made in Nigeria, over foreign brands across many categories. This is a clear departure from recent pasts.

“This also means that many great things are still happening in Nigeria, regardless of the negative press. Our locally made brands are standing shoulder to shoulder with the multinationals in their industries and they are emerging better in valuation and perception.“, he stated.

According to him; Big businesses and widely acceptable brands are being built here, challenging the status quo and taking leadership roles across various industries and areas of operations. “They are not just local champions, many of these Nigerian brands have also become multinationals, expanding aggressively across other African countries and beyond. You can see this in brands like Access Bank, Globacon, UBA, GTBank, Zenith Bank, First Bank, Dangote Group etc.

“This is a huge plus to the Nigerian business space and a strong point of encouragement to foreign investors that Nigeria still remain a top business frontier where you are almost certain of high return on your investment.”

A brief summary of the 2020 report as published on the their website, reveals that Dangote Group topped the list of the Most Valuable Brand 2020. This is followed by MTN which also doubles as the Most Valuable Multinational and Telecom Brand.

At the third place is Globacom, another proudly Nigerian brand. Glo made an impressive achievement this year by emerging top in the popularity survey.

The popularity test, which is done though a Top of the Mind (TOM) survey is the first and most important variable in the annual top brands evaluation.

Glo achieved an 89% mention from respondents during the TOM survey. This made Globacom, the Most Popular Brand in Nigeria 2020.

Coca-Cola Nigeria emerged in the fourth place and effectively topped the Beverages category, followed by GTBank on the 5th Place, topping the Banking and Financial Services brands.

The Banking and Financial Services had the highest number of brands in the top 10, with five brands. This is followed by the telecoms with three brands.

Seven brands among the top 10 had maintained top 10 positions for the past four years consecutively. Five brands among the top 10 maintained previous year’s positions.

In overall, 48 Percent, that is an equivalent of 29 brands are Nigerian while there are 31 multinational.

The banking & Financial Services had 14 brands, equivalent of 23.3 percent, followed by the Consumer Goods Category with 12 brands. This is led by Dufil Prima Foods.

Conglomerates and Oil & Gas categories have six brands each, with Dangote and Oando topping them respectively.

Telecoms and Beverages had four brands each. MTN and Coca-Cola emerged top in these two categories respectively.

Media and Automobile had three brands each, with Channels TV and Toyota Nigeria topping the categories

Construction Services, Electronics, Agriculture and Retail categories had 2 brands each with Julius Berger, Samsung Electronics, FlourMills of Nigeria Plc and Jumia, a first entrant topping these categories respectively.

Seven brands made the annual ranking for the first time, these are Sterling Bank Plc, Seplat Petroleum, Daraju Industries, TGI Group, Transsion holding, Jumia Nigeria and AIICO Insurance. Julius Berger Nigeria Plc emerged the higher gainer this year, while 10 brands among the 60 maintained their 2019 positions.

Detailed report with profiles of the top brands and the process, including the full report is available for download on their website

It would be recalled that Dangote Group, from Nigeria for the second year emerged as the most admired African brand, of African continent origin, by consumers in the African continent.

According to the South Africa based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.

In the top 100 list, the United State sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers. South African telecoms brand MTN is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin.

However, when consumers are prompted to recall the most admired African brand, Dangote retains the number one position. Just last year Dangote brand was named the most valuable brand among the top 50 brands in Nigeria for 2018 by Brand Nigeria.

Further analysis of the ranking indicates that Overall, the 2018/19 Brand Africa 100 list, which is calculated from 15,000 brand mentions illustrates a very diversified range of brands in Africa and shows year on year consistency with 80 per cent of the top 100 brands having been in the top 100 Most Admired Brands in previous years.

Overall, African brands faltered to an all-time low 14 percent share of the top 100 most admired brands in Africa. However, MTN (South Africa), Dangote (Nigeria) and Safaricom (Kenya) are the most admired highest listed brands on sub-Sahara’s leading bourses, the JSE, Nigeria Stock Exchange and Nairobi Securities Exchange respectively.

Faced with a relentless focus on the African opportunity and investment by non-African brands, Africa’s share of the most admired brands has been rapidly declining over the past three years from a high of 25 percent in 2013/14 to lows of 16 percent in 2015/16, 16 percent in 2016/17 and 17 percent in 2017/18.

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Business

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

Published

14 hours ago

December 22, 2024

Sahara Weekly

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

The newly renovated departure section of the Murtala Muhammed International Airport, Lagos, refurbished by United Bank for Africa (UBA) Plc, was officially commissioned on Friday, December 20th, 2024.

The laudable project, which marks a transformative moment in Nigeria’s aviation sector, underscores UBA’s unwavering commitment to national development and highlights the immense value of strategic public-private partnerships (PPPs).

The ceremony was graced by distinguished stakeholders, including the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN; the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku; other Directors, and Heads of Agencies operating at the Airport.

Speaking at the event, UBA’s Group Managing Director/CEO, Oliver Alawuba,lauded the collaboration that brought the project to fruition as he emphasised the need for public and private institutions to come together to build and revamp the nation’s assets.

“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he stated.

Alawuba took time to highlight the broader economic impact of such initiatives, urging increased private-sector participation in national development. “Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy,” he added.

Alawuba reflected on the power of unity and collaboration, quoting Helen Keller: “Alone we can do so little; together we can do so much.” The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”

While commissioning the project, Keyamo commended UBA for executing the project, a feat he termed a landmark achievement in Nigeria’s aviation sector. “This renovated departure section exemplifies the bank’s commitment to elevating aviation infrastructure, improving passenger experiences, and fostering international partnerships. It is a proud moment for the ministry and all stakeholders involved, and I thank the management of UBA for pioneering this initiative,” he remarked.

The minister highlighted other key achievements of his ministry, including compliance with the Cape Town Convention, the launch of a consumer protection portal, and advancements in major infrastructure projects such as the second runway at Abuja Airport and solar energy integration in airport operations.

The Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, commended UBA and other stakeholders for their contributions, adding, “This project reflects FAAN’s dedication to delivering world-class aviation infrastructure. The enhanced departure section not only elevates passenger experiences but also strengthens Nigeria’s competitive position in global aviation,” she said.

She called for more private-sector participation, emphasising that “partnerships like these are essential to transforming the aviation sector into a beacon of excellence.”

The newly renovated departure section boasts cutting-edge facilities designed to enhance efficiency and passenger comfort. This upgrade reaffirms the Murtala Muhammed International Airport’s status as a critical gateway to Nigeria and a major hub for international travel in Africa.

United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

2 days ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

2 days ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.