For the seventh year in a row, Dangote Industries Limited has solidified its position as Nigeria’s Most Valuable Brand, outshining a competitive field that includes prominent names like MTN, Airtel, Access Bank, and Globacom. This recognition comes from the latest rankings in the 2024 TOP 50 BRANDS NIGERIA® report, an annual celebration of the country’s most influential and valuable brands.
Dangote’s enduring dominance is a testament to its unwavering commitment to excellence and innovation across various sectors of the Nigerian economy. The company’s leadership is further underscored by its continued resilience in the face of economic challenges, reinforcing its status as a national powerhouse.
Following closely behind is MTN Nigeria, which not only secured the second position overall but also emerged as the Most Popular Brand in the country, according to the Top-of-Mind (TOM) survey. MTN’s deep consumer connection and widespread recognition underscore its significant impact on the telecommunications sector and beyond, making it a formidable force in the Nigerian market.
Globacom Nigeria, a homegrown multinational telecommunications giant, claimed the third spot, reflecting its sustained influence in driving Nigeria’s digital and technological progress. Globacom’s innovative solutions and commitment to advancing the nation’s technological landscape have consistently earned it a place among the top brands.
Airtel Nigeria, another key player in the telecommunications industry, ranked fourth, further emphasizing the sector’s critical role in Nigeria’s brand ecosystem. Meanwhile, Access Bank, a leader in the Banking & Financial Services sector, rounded out the top five, showcasing its strong market presence and commitment to financial innovation.
The 2024 TOP 50 BRANDS NIGERIA® list is a reflection of the resilience, innovation, and enduring relevance of the brands that continue to shape Nigeria’s economy, especially during challenging times. A significant highlight this year is that seven of the top ten brands are Nigerian, underscoring the global competitiveness and resilience of homegrown companies, many of which have expanded their operations beyond national borders.
The report also highlights the consistency among the top brands, with seven maintaining their positions from last year. This stability underscores their ongoing relevance, strong market presence, and ability to navigate the complexities of the Nigerian business environment. Overall, Nigerian brands accounted for 24 spots on the list, while international brands held 26 positions, representing 52% of the total.
Notably, the 2024 rankings saw the entry of two new brands—Opay Nigeria and Flutterwave—both making their debut in the prestigious Top 50 evaluation. These new entrants reflect the growing influence of fintech and digital payment platforms in shaping the future of Nigeria’s economy.
Additionally, the report features a special mention of the 10 Brands to Watch, with nine of these promising newcomers being Nigerian. These vibrant brands, though not yet among the top 50, have shown significant visibility and potential, marking them as future leaders in their respective industries.
During the public presentation of the rankings, Taiwo Oluboyede, CEO of TOP 50 BRANDS NIGERIA®, commended the recognized brands for their exceptional performance and resilience, particularly in the face of Nigeria’s current economic challenges. “These brands deserve commendation, 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,” Oluboyede remarked.
He further emphasized that it is in challenging times that the true strength and leadership of brands are revealed, quoting the adage, “Tough times never last, but tough people do.” Oluboyede concluded by celebrating the resilience and determination of these brands, which continue to set the standard for excellence in Nigeria.
The 2024 TOP 50 BRANDS NIGERIA® list not only recognizes the achievements of these leading brands but also celebrates their contributions to Nigeria’s economic development. As these brands continue to innovate and adapt, they will undoubtedly play a crucial role in shaping the future of the Nigerian economy.
