Dangote and MTN Lead as Top Brands in Nigeria’s 2024 Ranking

Dangote Industries Limited has been named Nigeria’s 'Most Valuable Brand' for 2024, achieving an impressive 89.6 percent on the brand strength measurement index (BSM) in the annual ranking by ‘Top 50 Brands Nigeria’. This marks the seventh consecutive year that Dangote has secured this top position.

At the announcement of the 2024 Top 50 Brands Nigeria in Lagos, the organizers highlighted Dangote’s continued dominance as a symbol of growth and transformation in Africa, showcasing the power and potential of Nigerian brands on the global stage.

“Dangote’s leadership in this ranking reflects its formidable influence in driving economic progress across the continent,” said Taiwo Oluboyede, CEO of TOP 50 BRANDS NIGERIA.

Celebrating the resilience and excellence of Nigerian brands, Oluboyede stated, “The 2024 edition of the TOP 50 BRANDS NIGERIA rankings is a tribute to the innovation, resilience, and enduring relevance of brands that are shaping Nigeria’s economy, especially during challenging times.”

MTN Nigeria followed closely behind Dangote, securing the second overall spot and emerging as the ‘Most Popular Brand’ according to the Top-of-Mind (TOM) survey. This recognition underscores MTN’s strong consumer connection and its significant impact on the telecommunications sector.

Globacom Nigeria ranked third, reinforcing its position as a leading force in the digital and technological landscape of the country. Airtel Nigeria and Access Bank took the fourth and fifth spots, with Access Bank leading the Banking & Financial Services sector.

Rounding out the top 10 were Zenith Bank Plc, Coca-Cola Nigeria, First Bank of Nigeria, BUA Group, and GTCO Plc, with strong performances from both the Banking & Financial Services and Telecoms sectors.

A notable highlight in this year’s ranking is the presence of seven Nigerian brands in the top 10, reflecting the resilience and global competitiveness of home-grown companies that are increasingly expanding their reach internationally.

Additionally, it is impressive to note the consistency among the top brands, with seven of them maintaining their positions from last year. This stability reflects their continued relevance, strong market presence, and ability to navigate the complexities of the Nigerian business environment.

Overall,  Nigerian brands account for 24 spots on the top brands list this year, while international brands hold 26 positions, representing 52% of the total.

The 2024 list also witnessed the entry of two new brands, these are Opay Nigeria and Flutterwave, which made their debut in the annual Top 50 evaluation. These new entrants highlight the growing influence of fintech and digital payment platforms in shaping Nigeria’s economic future.

Notably, 14 brands maintained their positions from the previous year, reflecting their consistent performance and consumer trust.

Another set of notes in the presentation are the 10 Brands to Watch – These are vibrant and upcoming brands, who, though not among the 50 Top Brands yet, but with significant visibility and promises. This year, 9 of the 10 Brands to Watch are Nigerian.

During the public presentation, Oluboyede, CEO of TOP 50 BRANDS NIGERIA, commended the       brands for their exceptional performance resilience, particularly in the face of the present economic challenges. “These brands deserve commendation, really, especially in times like this. The past year has been tough for many businesses, with some relocating out of Nigeria and others barely holding on. However, the majority of these brands have shown the resilient Naija spirit by weathering the storms and standing strong with positive projections into the future” He went on “As the saying goes, tough times never last, but tough people do. It’s in times like this that you differentiate between the boys and the men, as these brands have shown., concluded Oluboyede.

The 2024 TOP 50 BRANDS NIGERIA list is a celebration of excellence, resilience, and the relentless pursuit of growth. As these brands continue to innovate and adapt, they set the standard for what it means to be a top brand in Nigeria. We look forward to witnessing their continued success and contribution to Nigeria’s economic development in the years to come.