Nigerian brands showed a solid outing as about 26 indigenously owned brands made their way into the ranking of 200 best brands in Africa.
The report published by Brand Finance — a London-based brand valuation consultancy firm analysed data from March 2023 to March this year (2024).
According to David Haigh, the Chairman & CEO of Brand Finance, the report is based on extensive research based on understanding customer perception of brands across the world than ever before.
20 most valuable Nigerian-owned brands in Africa
The report which analysed the top 200 brands in Africa revealed the top 20 Nigerian-owned brands which include:
| S/N | Rank (2024) | Rank (2023) | Brand | Sector |
|---|---|---|---|---|
| 1 | 31 | 35 | Access Bank | Banking |
| 2 | 35 | 41 | Dangote Cement | Engineering |
| 3 | 36 | 59 | Flour Mills Nigeria | Food |
| 4 | 50 | 37 | Zenith Bank | Banking |
| 5 | 57 | 46 | United Bank For Africa | Banking |
| 6 | 61 | 49 | GTCO | Banking |
| 7 | 80 | 62 | First Bank | Banking |
| 8 | 83 | 89 | Orijin | Spirits |
| 9 | 89 | 102 | Hero | Beers |
| 10 | 91 | 101 | BUA | Engineering |
| 11 | 92 | 94 | 33 Export | Beers |
| 12 | 94 | 87 | Life Continental | Beers |
| 13 | 98 | 136 | Stanbic | Banking |
| 14 | 116 | 112 | Star Lager | Beers |
| 15 | 119 | 98 | Glo Mobile | Telecoms |
| 16 | 120 | 118 | Seplat Energy | Oil & Gas |
| 17 | 122 | 139 | Goldberg | Beers |
| 18 | 142 | 167 | Dangote Sugar | Food |
| 19 | 144 | 100 | Honeywell Flour | Food |
| 20 | 148 | 153 | Oando | Oil & Gas |
The major sectors represented in the top 20 Nigerian brands include:
- Banking (6)
- Alcoholic Beverages - Beer (5) Spirit (1)
- Engineering (2)
- Food (3)
- Oil and Gas (2)
- Telecom (1)
While explaining the dominance of the banking sector, the report noted that the value of Nigeria’s top banking brands increased based on improved revenues, primarily driven by significant growth in its interest-based income.
The six other brands represented in the ranking include Julius Berger Nigeria Ltd (152nd position), Fidelity Bank (163rd position), Malta Guinness (173rd position), Gulder Ultimate Beer (176th position), FCMB (186th position), and Union Bank (188th position).
The report which is the eighth consecutive one, covers over 6000 brands across 31 sectors in 45 countries.