Why the Nigerian brand has not fared well in the global market —Expert
By A marketing communications expert and Chief Executive Officer, Top 50 Brands and Convener IAMBRANDNIGERIA, Mr. Taiwo Oluboyede, has attributed the dwindling image of the Nigerian brand, especially its failure to catch the world’s fancy to the failure of the several attempts the nation had made made at rebranding herself in the past.
Oluboyede, who made the remarks, at this year’s edition of the IAMBRANDNIGERIA Awards, held in Lagos, recently, noted that, while every other nation is succeeding at fine-tuning their reputation, so as to attract tourism and foreign direct investments, Nigeria had not been able to avail itself of such opportunities; since attempts at positively repositioning it had not yielded substantially measurable positive outcome.
He added that while many other nations of the world are busy making compelling narratives about their heritage, as a way of enhancing the brand equities of such nations to enable it attract global attention, the average Nigerian, he argued, had not done much in this regard.
“It is appalling when we, ourselves talk down on our most important national asset, which is our brand.
“The fact is, the value of the Nigeria brand directly affects all of us personally and the amount of premium we can attract to our businesses, regardless of your political persuasion or affiliation.
“Every nation of the world is trading in a common market and with the same commodity, their’ reputation’. This is what attracts tourism, foreign investment and is a critical driver of their economy. It also determines the manner of reception their citizens get when they cross international borders.
“So, most first world nations and even the so called ‘third worlds’ have consciously devised means of laundering their image in other to enhance reputation which is critical to attracting quality interest and also a key driver of business,” he stated.
The Top 50 Brands’ boss described the #IAMBRANDNIGERIA initiative, as a private sector-driven initiative aimed at enhancing the value of the Nigeria brand and a clarion call to 190 million stakeholders of the brand for open endorsement and enhanced association.
“It is not about trying to rebrand Nigeria. It is a private sector driven initiative towards enhancing the value of the Nigeria brand. It is a clarion call to 190 million stakeholders of the brand for open endorsement and enhanced association as we use the stories of tenacity, resilience and the entrepreneurial spirit of many individuals and corporate brands that have been able to achieve success against all odds as a positive and better narrative to enhance the brand Nigeria.
“It is what made people like Alibaba who was once homeless, living on the Barbeach with only 2 pair of cloth as his property, trekking long distances for TV appearances, but today, he is a master of an industry with many protégés who are now masters on their own,” Oluboyede stated.
According to him, the aim of the initiative is to use compelling Nigerian success stories, as a better narrative and how Nigerians should be perceived as a people.
He added that one of the main activities of the #IAMBRANIGERIA initiative is its annual Award, designed to specially recognize certain individuals and corporate brands who have become proponents of value addition to the Nigeria brand through their endeavors.
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