Innovation pushes 50 brands on top

Fifty companies in various sectors of the Nigerian economy have emerged as top brands in the annual survey of brands by Top 50 Brands Nigeria. They emerged on top due to their innovation and leadership qualities, the survey said.

According to the survey, the companies, which are both indigenous and international companies cut across various sectors, such as manufacturing, construction, financial services, oil and gas, automobile, media,  consumer goods, food & beverages, telecoms and logistics.

However, brands to watch out for in the emerging trend are Jumia, Konga, SAB MILLER, Heritage Bank, Shoprite, Startimes, Computer Warehouse Group, Huawei, daraju industries and Tecno mobile. These brands are said to have positive outlook and possibilities of being reviewed for the 50 top brand class soonest.

Speaking during the unveiling of the brands in Lagos, Taiwo Oluboyede, founder of the Top 50 Brands Nigeria said that the 50 top brands are brands that have weathered the storm over the years.

The brand selection is to reward and celebrate excellence in service delivery and encourage existing and emerging companies in the country to be more iconic and inspire enduring affection among the consumers.

He disclosed that the selection criteria included the brand identity and retention, market acceptability, corporate social responsibilities, customer service delivery, visionary and innovation and popularity evaluation.

He further revealed that the evaluation considered the brands that have been in operation in Nigeria for a minimum period of five years, physical and operational presence in major cities and at least 13 states of the country, including federal Capital Territory, FCT.

While shedding more light on the objective of the Top 50 brands in Nigeria, Oluboyede explained that the goal of the project is to regularly present monetary values of major operational brands in Nigeria, using the combination of quantitative and qualitative brand valuation methodology.