Brand Finance’s Nigeria 25 2026 reveals that the country’s top 25 brands record a 14% increase in their collective brand value
ABUJA, 13 April 2026 - Nigeria’s economic growth over the past year has provided an optimistic outlook on the country’s business landscape, reflected in a 14% increase in the collective brand value of the country’s top 25 brands to NGN5.01 trillion.
According to the Nigeria 25 2026 report by Brand Finance, the world's leading brand valuation consultancy, Nigeria’s banking sector continues to dominate, accounting for 61% of total brand value at NGN3.05 trillion.
Access Bank (brand value down 13% to NGN773.2 billion) maintains its position as Nigeria’s most valuable brand, though it faces a complex transition period. While its brand value saw a 13% decline to NGN 773.2 billion, its brand strength shows noteworthy improvement. This divergence highlights a strategic shift where the brand is sacrificing short-term domestic margins to cement its positioning as "The Gateway to the World". By offsetting a 17% decline in Nigerian income with a 14% surge from its broader African operations, Access Bank is successfully pivoting from a local leader to a cross-continental infrastructure provider. The brand’s performance further extends beyond national borders, ranking 320th among the world’s top 500 banking brands, according to the Brand Finance Banking 500 2026 report.
Zenith Bank (brand value up 20% to NGN547 billion) rises to second place, following solid performance across key banking activities, supported by noteworthy growth in interest and non-interest income. The bank’s adoption of digital technology and international expansion were key drivers of its improved performance this year, including an investment of approximately USD 100 million in upgrading core banking systems, alongside continued expansion into African and European markets to diversify revenue streams.
GTCO (Guarantee Trust Holding Company Plc) (brand value up 3% to NGN540.7 billion) remains the third most valuable Nigerian brand, reporting income growth across core banking activities and diversified revenue streams. The brand’s performance was supported by its shift in brand strategy from traditional banking transactions towards more direct market engagement with cultural initiatives like the annual GTCO Food and Drink Festival.
Seplat Energy (brand value up 97% to NGN194.5 billion) stands out in the ranking for its significant brand value growth, which nearly doubles over the past year. This leap was driven by strong financial and operational performance due to higher production volumes, improved cash generation, and the consolidation of newly acquired offshore assets. In addition to its solid performance, the oil and gas producer ranks as the ninth most valuable brand this year, entering the country’s top 10 for the first time.
First Bank of Nigeria (brand value up 17% to NGN337.2 billion) emerges as Nigeria’s strongest brand, rising one place with a Brand Strength Index (BSI) score of 92.2/100 and Brand Finance’s highest brand strength rating of AAA+. The brand’s strength reflects its positioning as a trusted partner for SMEs and private banking clients. Its customer-centric approach has enabled the 132-year-old institution to successfully blend heritage with digital transformation, enhancing familiarity, reliability, reputation, and engagement in the modern era.
Babatunde Odumeru, Managing Director, Brand Finance, Nigeria, commented:
“Nigeria’s top brands are proving that resilience today is defined by adaptability. While the collective brand value continues to rise, the real story lies in how brands such as Access Bank, Zenith Bank, and GTCO are navigating economic headwinds through strategic expansion, digital investment, and diversified revenue streams. Standout growth from Seplat Energy shows that the market continues to reward operational discipline and strong strategic positioning, while First Bank of Nigeria’s emergence as the country’s strongest brand highlights how long-established institutions can remain relevant by combining heritage, and customer-focused transformation. In this environment, brands that pair relevance with execution will be best placed to sustain long-term value.”
Other notable Nigerian brands featured in the Brand Finance Nigeria 25 2026 report include:
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
