Dangote as the Most Valuable Brand in the country for the 5th year.brand and marketing research firm known as Top 50 Brands Nigeria has listed
Dangote came out as the winner in the outcome of the 2022 corporate brand evaluation conducted by the firm.
A statement by the organizer stated that Dangote, MTN Nigeria and Globacom are the topmost brands in Nigeria.
The statement explained that Dangote emerged top with an aggregate score of 83.7 brand strength measurement index score. This was followed by MTN, Globacom and Access Bank in fourth place.
Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank and UBA at fifth to tenth positions respectively, the statement added.
It said, “The annual top brands evaluation report which is now like a report card, with which top corporate brands have an independent opinion about their brand performance, from the consumers’ points of view has also become a sort of ‘bragging’ right and a source of pride for the brands that made the top 50 league table, particularly, those that took the lead.
“The annual top brand evaluation is a qualitative, non-financial estimation of value of top corporate brands in the country. A measure of consumers’ perceptions.”
TheNewsGuru.com reports that Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote.
It is the largest conglomerate in West Africa and one of the largest on the African continent. The group employs more than 30,000 people, generating revenue in excess of US$4.1 billion in 2017.
The company was founded in 1981 as a trading enterprise, importing sugar, cement, rice, fisheries, and other consumer goods for distribution in the Nigeria market.
The group moved into manufacturing in the 1990s, starting with textiles, moving onto flour milling, salt processing and sugar refining by the end of the decade.
The company next moved into cement production, growing rapidly and moving into other African countries. A high degree of vertical integration is a hallmark of Dangote Group’s operating strategy.
The group now owns and operates over 18 subsidiaries, operating in ten African countries.
Dangote Cement, is one of these subsidiaries that is listed on the Nigerian Stock Exchange, with its market capitalization accounting for almost 20 percent of the total capitalization of the Nigerian Stock Exchange.
Dangote Group is headquartered in Lagos.
In 2016, Dangote signed a contract with CNOOC group for the installation of a large underwater offshore pipeline.
The pipeline, when completed will extend from Bonny (Rivers State) through Ogedegbe, Olokola to Lekki and the Escravos Lagos pipeline, finally terminating at the West Africa Gas Pipeline.