Economy
Dangote Retains Position as Most Admired African Brand
For the second straight year, a Nigerian company, Dangote Group, has emerged as the most admired African brand, of African continent origin, by consumers ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands announced in Johannesburg at the weekend.
According to the South Africa based Brand Africa in a survey carried out in collaboration with the Johannesburg Stock Exchange (JSE), the seventh edition which was released at the weekend, of 15,000 brands mentioned, Dangote ranked first brand when consumers are prompted to recall the most admired African brand.
In the top 100 list, the United State sports and fitness mega brand, Nike, a non-African brand retains the overall number one brand in Africa spontaneously recalled by consumers.
South African telecoms brand, MTN, is the number one African brand spontaneously recalled brand, while surging Ethiopian brand Anbessa Shoes, at number two, swopped positions with Nigerian conglomerate, Dangote, which is the number three most admired brand of African of origin.
However, when consumers are prompted to recall the most admired African brand, Dangote retains the number one position. Just last year Dangote brand was named the most valuable brand among the top 50 brands in Nigeria for 2018 by Brand Nigeria.
Further analysis of the ranking indicates that Overall, the 2018/19 Brand Africa 100 list, which is calculated from 15,000 brand mentions illustrates a very diversified range of brands in Africa and shows year on year consistency with 80 per cent of the top 100 brands having been in the top 100 Most Admired Brands in previous years.
Overall, African brands faltered to an all-time low 14 percent share of the top 100 most admired brands in Africa. However, MTN (South Africa), Dangote (Nigeria) and Safaricom (Kenya) are the most admired highest listed brands on sub-Sahara’s leading bourses, the JSE, Nigeria Stock Exchange and Nairobi Securities Exchange respectively.
Faced with a relentless focus on the African opportunity and investment by non-African brands, Africa’s share of the most admired brands has been rapidly declining over the past three years from a high of 25 percent in 2013/14 to lows of 16 percent in 2015/16, 16 percent in 2016/17 and 17 percent in 2017/18.
“Today at the JSE, at an event with industry leaders from across Africa, hosted by the JSE in partnership with Geopoll, Kantar and Brand Leadership, Brand Africa announced the Top 100 brands in Africa in their 7th annual Brand Africa 100: Africa’s Best Brands. Nike, MTN, Dangote, Ecobank and BBC were recognised as the most admired brands on the continent,” a statement from the Brand Africa read.
“Non-African brands have entrenched their positions in Africa, with North American brands, dominated exclusively by United States of America brands (28%), leading with a growth of 17% versus 2017/8. The strength of USA brands was boosted by the entry and/or re-entry of stalwart American brands such as number 71 Levi’s, number 91 Chevrolet and Pepsi’s Miranda at number 80, who are all among the 20 new entrants. European brands (41%) are up by 2,5% and Asian brands (17%) down by 10%, round up the continental spread of brands Africans admire.
The Brand Africa 100 rankings are based on a survey among a representative sample of respondents 18 years and older, conducted in 25 countries across Africa. Covering all African economic regions, collectively these countries account for an estimated 80% of the continent’s population and 75% of the GDP.
In a reconfigured category listing where technology and electronics and telecoms categories were separated and new categories of luxury and personal care were introduced or re-introduced, the Top 100 is dominated by technology and electronic brands (18%) and telecoms (7%), consumer (non-cyclical) (16%), auto manufacturers (11%), luxury (10%), automobile (11%), apparel (8%), retail (7%), food (4%), non-alcoholic beverages (5%), personal care (4%), sports & fitness (4%) and media (1%) categories are the top categories.
Thebe Ikalafeng, Founder and Chairman of Brand Africa and Brand Leadership said of the outcome of survey “It is disappointing that despite its vibrant entrepreneurial environment, Africa is not creating new competitive brands to meet the needs of its growing consumer market.
“These rankings are an important metric of and challenge for creating home-grown competitive African brands that will transform the African promise and change its narrative and image as a competitive continent. African brands have an important role in helping to build the African brand”, he added.
Brand Africa 100 was developed by pan-African branding and reputation advisory firm, Brand Leadership Group supported by GeoPoll, the leader in mobile-based market research throughout Africa, and strategic analysis and insights by Kantar TNS, the world’s leading data, insights and consulting company.
It is an inter-generational movement to inspire a great Africa through promoting a positive image of Africa, celebrating its diversity and driving its competitiveness. It is a brand-led movement which recognizes that in the 21st century, brands are an asset and a vector of image, reputation and competitiveness of nations. Brand Africa seeks to inspire a brand-led African renaissance.
Its ranking of Africa’s 100 Best Brands is an initiative to survey, rank and recognize the best brands in Africa in recognition of the growth of African brands, which were beginning to challenge global brands in Africa or lead global brands in new categories such as telecommunications. The aim of Brand Africa is to identify, acknowledge and promote African and global brands that are catalysts for Africa’s growth, reputation and value.
In his reaction, Group Chief Corporate Communication Officer of the Dangote Group, Mr Anthony Chiejina, said the management was not unexpected of the ranking because the company has a long-standing reputation for quality, relevance compliance and social stewardship. “Our mission and vision engage and inspire us to by extension connects us to with both our internal and external stakeholders.
“We fervently believe that only Africans can develop Africa, and this gives us stronger sense of relevance in all the countries where we have our operations. we are touching lives by providing their basic needs and empowering Africans more than ever before creating jobs reducing capital flight, helping government conserve foreign exchange drain by supporting different industrial infrastructural projects of African government.”
Mr Chiejina stated further that Dangote Cement has been producing high quality and affordable cement, reducing poverty, engaging in unprecedented philanthropy and above all respecting the laws of the land where we operate.
“All these are our credo and we do not compromise it; it is our way. And the ranking is just an acknowledgement of all these by our stakeholders, we keep our brand promise and stay authentic,” he concluded.
Economy
Insurance Firms Must Submit 2025 Assessment Returns by May 31—NAICOM
By Adedapo Adesanya
The National Insurance Commission has issued new guidelines for the collection, management, and administration of the Insurance Policyholders’ Protection Fund.
In a circular issued to all insurance institutions on Tuesday, the regulator also set May 31, 2026, as the deadline for insurers to submit their assessment returns for the 2025 financial year.
Recall that on August 5, 2025, President Bola Tinubu signed into law the Nigerian Insurance Industry Reform Act ( NIIRA 2025).
This landmark legislation repeals the Insurance Act 2003, and consolidates related provisions, ushering in a modern regulatory framework. It lays a strong foundation for sustainable growth and increased investment in the country’s insurance sector.
The commission said the guidelines were issued in exercise of its powers under the 2025 Act and other existing insurance laws and regulations to provide regulatory clarity, improve guidance, and ensure ease of compliance across the industry.
According to NAICOM, the guidelines establish a comprehensive structure for the operation of the IPPF, which serves as a statutory safety net to protect insurance policyholders in the event of distress or insolvency of a licensed insurer or reinsurer. The framework also provides direction on the reimbursement of loans by insurers and reinsurers.
NAICOM stated, “The guidelines ensure regulatory clarity, guidance and ease of compliance, as it provides a comprehensive regulatory framework for the collection, management, and administration of the Fund, which serves as a statutory safety net designed to protect insurance policyholders against distress and insolvency of a licensed insurer or reinsurer, including guidance for the reimbursement of loans by an insurer or reinsurer.
“Please be informed that the IPPF Assessment Returns in respect of the year 2025 shall be submitted to the Commission not later than 31st May 2026, while subsequent submissions shall be in line with Section 4.3 of the Guideline on Insurance Policyholders Protection Fund.”
Economy
Dangote Refinery Sells Petrol at N1,200/L as Global Oil Prices Slump
By Adedapo Adesanya
The Dangote Refinery on Wednesday returned the petrol price to N1,200 per litre, less than 24 hours after it increased it by 5 per cent.
The private refinery had raised the ex-depot price by N75 on Tuesday, citing pressure from volatile global oil markets, but quickly brought it back to N1,200 per litre from N1,275 per litre.
The swift downward review is directly linked to a sharp drop in international crude prices. Brent crude has plunged to $95.05 per barrel, after a 13 per cent decline, while the US West Texas Intermediate (WTI) crude closed at $97.18, recording nearly a 14 per cent drop.
This development comes after US President Donald Trump announced a conditional two-week ceasefire with Iran, which eased fears of immediate supply disruptions in the global oil market.
“This will be a double-sided CEASEFIRE!” Trump said on social media, marking a sharp reversal from his earlier warning that “a whole civilisation will die tonight” if Iran failed to comply with US demands.
Iran’s Foreign Minister, Mr Abbas Araqchi, confirmed that the country would halt attacks provided strikes against Iran cease and transit through the Strait of Hormuz is coordinated by Iranian forces.
Despite the breakthrough, tensions remain elevated across the region, with several Gulf states reporting missile launches, drone activity, or issuing civil defence warnings.
While oil prices have fallen back below $100, they remain significantly elevated after surging by a record amount in March. Market analysts noted that regardless of how successful the ceasefire is, geopolitical risk related to the Strait of Hormuz is likely to remain elevated for the foreseeable future under the control of Iran.
Economy
Crude Deliveries Double to Dangote Refinery in Mix of Naira, Dollar Supply
By Adedapo Adesanya
Crude oil deliveries from the Nigerian National Petroleum Company (NNPC) Limited to the Dangote Petroleum Refinery doubled in March, boosting prospects for improved fuel availability.
This was revealed by the chief executive of Dangote Industries Limited, Mr Aliko Dangote, on Tuesday, when he received the Deputy Secretary-General of the United Nations, Mrs Amina Mohammed, at the industrial complex in Ibeju-Lekki, Lagos.
While speaking on feedstock supply, Mr Dangote commended the NNPC for increasing crude deliveries to the refinery in March, noting that volumes rose to 10 cargoes—six supplied in Naira and four in Dollars—to support domestic fuel availability, according to a statement by the Refinery.
“Last month, they gave us six cargoes for Naira and four cargoes for Dollars,” he said.
Despite the improvement, Mr Dangote noted that the supply remains below the 19 cargoes required for optimal operations, with the refinery continuing to bridge the gap through imports from the United States and other African producers.
He also expressed concern over the unwillingness of international oil companies operating in Nigeria to sell to the refinery, stating that their preference for selling crude to traders forces it to repurchase at higher costs, with broader implications for the economy.
Mr Dangote added that the refinery is seeking increased access to domestically priced crude under local currency arrangements as part of efforts to moderate fuel costs and enhance long-term energy and food security across the continent.
On her part, Mrs Mohammed underscored the strategic importance of Dangote Industries Limited -particularly Dangote Fertiliser Limited—in addressing Africa’s mounting food security challenges, while calling for stronger global partnerships to scale its impact.
Mrs Mohammed said the United Nations would prioritise amplifying scalable solutions capable of mitigating the continent’s food crisis, describing Dangote’s integrated industrial model as a critical pathway.
“I think the UN’s job here is to amplify and to put visibility on the possibilities of mitigating a food security crisis, and this is one of them,” she said. “I hope that when we go back, we can continue to engage partners and countries that should collaborate with Dangote Industries.”
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
