^^^
Pronounced 'Ned'.
Regarding prononciation, I think standardisation would be a terrible thing... I think your dialect asserts your cultural identity. For instance, a standardised English would have a devastating affect on reggae, hip-hop, all British and American folk music... I can't imagine a world without Irish, Yorkshire, Scottish (particularly 'wegie), Nashville... terrible.
Relatedly
art of the problem with British hip-hop, up until grime (with a few exceptions) is that the 'flow' was often reliant upon American styles, which just ruins any sense of being 'real' and 'true' and all that rhetorical gash that's thrown about by rappers.
Having said all that, and being full aware that American often has more 'orthodox' prononciation, many American accents (mostly West Coast) make my teeth curl.