*Access Bank Plc shines again as the brand tops the chart in the Nigerian Banking and Financial Services sector of the economy, demonstrating strong performance with three other banking brands to secure spots in the Top 10 in this year鈥檚 鈥楾op 50 Brands Nigeria鈥�

Isola Moses | 绿帽献妻

Access Bank Plc has merged as the leader in the Banking and Financial Services sector of the Nigerian economy.

绿帽献妻 reports the leading banking institution in the country also emerged the 5th overall company while topping the topping the Banking and Financial Services sector of the economy in the latest report of the Top 50 Brands Nigeria rankings, an annual celebration of the most influential and valuable brands in the West African country.

According to the organisers, Access Bank brand leads the pack in the Banking and Financial Services sector, demonstrating strong performance, with three banking brands, including Zenith Bank Plc, First Bank Plc and GTBank, trailing behind in securing spots in the top 10 in this year鈥檚 Top 50 Brands Nigeria.

As regards the recent ranking of top companies in Nigeria, the organisers said in a statement on its corporate Web site that 鈥渢his year鈥檚 list is a testament to the resilience, innovation, and enduring relevance of brands that continue to shape Nigeria鈥檚 economic, particularly in challenging times.”

According to them, a significant highlight this year is that seven of the first 10 brands out of the 50 are Nigerian, emphasising the resilience and global competitiveness of home-grown brands, most of which had spread abroad.

Besides, it is impressive to note the consistency among the top brands, with seven of them maintaining their positions from last year.

The organisers also noted that the stability reflects their continued relevance, strong market presence, and ability to navigate the complexities of the Nigerian business environment.

Besides, Nigerian brands account for 24 spots on the top brands list this year, while international brands hold 26 positions, representing 52 percent of the total, stated DIL.

On 2024 Top 50 Brands Nigeria

The Top 50 Brands Nigeria, an annual brand evaluation that has become a key reference point for corporate performance in the country.

This exercise, according to the organisrs, rates brands on their ability to meet consumer expectations, offering an independent opinion on how well these brands resonate with the market.

鈥淥ver the years, this assessment has evolved into a vital report card that top corporate brands look to for an understanding of their standing in the market of consumer opinion,鈥� they noted.

The 2024 list as well witnessed the entry of two new brands, including Opay Nigeria and Flutterwave, which made their debut in the annual Top 50 evaluation.

These new entrants highlight the growing influence of Financial Technology (FinTech) and digital payment platforms in shaping Nigeria鈥檚 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 鈥� 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 organisations, according to the organisers.

Earlier in his public presentation of the report, Taiwo Oluboyede, Chief Executive Officer (CEO) of Top 50 Brands Nigeria庐, hailed the brands for their exceptional performance resilience, particularly in the face of the present economic challenges in Nigeria.

鈥淭hese 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,” stated Oluboyede.

The company鈥檚 Chief Executive said: “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.

鈥淎s the saying goes, tough times never last, but tough people do.

“It鈥檚 in times like this that you differentiate between the boys and the men, as these brands have shown.鈥�

The 2024 Top 50 Brands Nigeria list is a celebration of excellence, resilience, and the relentless pursuit of growth.

According to the organisers, as these brands continue to innovate and adapt, they set the standard for what it means to be a top brand in Nigeria.

鈥淲e look forward to witnessing their continued success and contribution to Nigeria鈥檚 economic development in the years to come,鈥� they added.

BSM Model and meeting consumer expectations in market

The organisers also explained the exercise rates brands on their ability to meet consumer expectations, offering an independent opinion on how well these brands resonate with the market.

It stated: 鈥淥ver the years, this assessment has evolved into a vital report card that top corporate brands look to for an understanding of their standing in the market of consumer opinion.

In respect of the strongest driving force behind their corporate success, brand as we know it, though intangible, has become the strongest driving force behind a corporate organisation, beyond just the marketing.

So, the brand is now the most valuable asset of a company. From a financial point of view, a brand could be several times more valuable that company鈥檚 book value.

This is better appreciated during mergers and acquisitions when the intangible assets (inadequately called goodwill) attract very handsome premium to the value of the company

It noted that for something that important, 鈥渢here is also the need for a periodic evaluation.鈥�

The annual Top 50 Brands Nigeria evaluation process is anchored on the Brand Strength Measurement (BSM) model, a comprehensive tool that evaluates the essence of consumer perception and brand performance.

This model ensures that the qualitative evaluation reflect not just financial success but also how well a brand connects with its audience.

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