BOI, Imose Technologies Set to Boost Local Content Development

Emma Okonji

The Bank of Industry (BOI) has assured Imose Technologies, a Lagos-based local manufacturer of Imose Zedon X-Pro laptops, mobile phones and tablets of its support to boost the local manufacturing of Imose brands of laptops, tablets and mobile phones in Nigeria.

The support is in line with the Executive Order 003 of the federal government that seeks to promote local manufacturing and local content development in Nigeria.

The Managing Director/ Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, gave the assurance yesterday, when he led a team from BOI on a facility inspection tour of Imose Technologies assembly factory in Lekki, Lagos.

In line with its six thematic areas for economic growth and development impact namely, SMEs, youth and skills, digital economy, infrastructure, climate and gender, the BOI provided N2 billion loan facility to Imose Technologies in 2023 to expand its operations.

The facility tour was therefore aimed at reviewing the organisation’s progress since receiving the facility last year.

Olusi further said: “I want to assure you that BOI is committed to standing side by side with Imose Technologies to ensure that the company’s value chain is further developed.

“We believe that it is by developing the value chain that we can also contribute to your own growth and also job creation in this country. So, I look forward to seeing the great factory shop where you produce all these fantastic devices.”

Olusi who spoke on arrival for the facility tour expressed happiness that Imose Technologies currently has over 250 distributors across the country, adding that such milestones show that the company has very strong support for medium and small businesses, which he said was a major and most significant part of the mandate given to BOI to establish.

“This is one of the institutions that BOI loves to support. We’ve been supporting them through loan facilities and it’s great to see their trajectory of growth and development over the last 10 years, which is amazing.

“BOI will patronise their products, boost local content development and see to the growth of the technology company,” he added.

In his opening remarks, the Chairman and Founder, Imose Technologies, Mr. Osayi Izedonmwen, appreciated the BOI for its support and stated that the facility from BOI had fueled the company’s growth.

“In 2023, Imose Technologies, an indigenous technology company opened its first assembly factory at the Benin Technical College in Edo State. With the BOI’s intervention, the second factory was opened in Lagos at the beginning of 2024. Both assembly factories can produce up to one million smart devices and laptops annually,” Izedonmwen said.

He called on the government to support indigenous brands like Imose Technologies that are committing billions to manufacturing of local products that meet the needs of Nigerians and creating jobs for Nigerians.

As local manufacturers, our competitors are foreign brands that get support from their countries. We the local manufacturers of digital devices in Nigeria also need government support to compete favourably, Izedonmwen further said.