Young entrepreneur Jowosimi Olumide has taken his passion for business, the experiences he has garnered while growing up in Oshodi which is known for hustling and the need to provide solutions to problems in building a thriving brand. He is the chief executive officer of JayPlug Gadgets, a mobile phone and consumer electronic retailing company.
Today, Jowosimi runs a thriving business despite the current harsh economic situations of the country. His ultimate goal is to make his brand Jay Plug dominate the African market for mobile phones and consumer electronics. It is his emphatic belief that, in business one must be diligent, honest and possess integrity.
In this interview, he shared with ACADA Magazine what it is like to start and manage a phone retailing business in Nigeria, the many challenges of the business and what has kept him going despite the country’s current economic hardship.
How did you get into the phone retailing business?
I have always been business-oriented, and growing up in a place like Oshodi where hustling is part of everyday life, I knew early on that I wanted to run my own business. The idea of getting into the phone retailing business came naturally because I saw the need to bring mobile phones and accessories closer to people and provide solutions to communication issues. With my business skills, I was motivated to create a store that provides quality products at affordable prices, and that’s how JayPlug was born.
What are the challenges you face in the business?
Like every other business, we have our fair share of challenges. One of the biggest is the fluctuation in foreign exchange rates, which directly affects the cost of importing phones and accessories. This makes it difficult to maintain consistent pricing. Another challenge is the economic situation of the country, which limits people’s purchasing power. But despite these challenges, we continue to find ways to excel, and glory be to God for that.
When it comes to mobile phones, some people prefer to buy used rather than new ones. What’s your take on this?
I understand why people might prefer used phones, and it largely boils down to budget. Not everyone can afford a brand-new phone, and used phones offer a cheaper alternative. However, at JayPlug, whether you’re buying new or used, we ensure that our prices are pocket-friendly and the quality is top-notch. We cater to different customers by offering both options, but we always emphasize quality, no matter what. Buying a used phone can lead to serious problems if you don’t know the source. It may be a stolen phone and this type of thing has landed many people in serious problems, even leading to jail terms. So one needs to be extra cautious and know the person you’re buying from and not just any random person in case an issue arises.
Aside from mobile phones, what other products do you sell?
Apart from mobile phones, we also sell a wide range of accessories. We offer AirPods, earpieces, speakers, chargers, and other gadgets that complement mobile devices. We ensure that every product we sell meets the high standards of quality that our customers expect.
What makes JayPlug the go-to store of choice?
What sets JayPlug apart is our commitment to quality and customer satisfaction. We don’t just sell gadgets; we sell solutions. Our products are reliable, our customer service is top-notch, and we offer some of the most competitive prices in the market. Beyond that, we make shopping convenient for our customers, whether they’re visiting our physical store or ordering online. At JayPlug, we believe that every customer deserves the best experience, and that’s what keeps them coming back.
How do you think the government can support young businesses like yours?
The government can play a big role in helping young entrepreneurs like myself. For one, the provision of grants and loans at low interest rates would go a long way in supporting small businesses. There is also a need to have more empowerment programs for young people who want to go into business. Another key area is stabilizing the foreign exchange rate so that businesses that depend on imports can plan better and avoid sudden price hikes. If the government can address these issues, it will greatly improve the business environment for us.
With the present economic situation of the country, how has business been?
The economy has been tough, no doubt. People are more cautious with their spending, and the fluctuating exchange rate has made it harder to keep prices stable. But even with these challenges, we’ve been able to keep the business running smoothly. Our approach has been to continuously find ways to adapt and offer our customers value for their money. It’s not easy, but we keep pushing forward.
Can you share with us your family background and upbringing?
I was born and raised in Oshodi, Lagos, but I’m originally from Ijebu. Growing up in Oshodi shaped me into the businessperson I am today because it’s a place where everyone is hustling and you quickly learn the value of hard work. My family instilled in me the importance of being diligent and having integrity, values that I carry with me in business today.
Your educational background. Schools that you attended and the course you read at the university?
I studied Biochemistry at the University of Lagos, and I was one of the top students in my set. Although my field of study is different from my business, my education taught me discipline and critical thinking, which have been very useful in my entrepreneurial journey.
What is your favourite gadget?
Without a doubt, my favorite gadget is the iPhone. It’s a powerful tool, not just for communication but also for business. The iPhone has become a must-have for many, and I love the way it combines functionality with elegance.
When you’re not working, how do you unwind and relax?
When I’m not working, I like to take time to strategize and do research. I’m always looking for new ways to improve my business. Besides that, I enjoy reading and studying to expand my knowledge. And of course, I relax with a glass of wine to unwind after a long day.
What advice would you like to give to young people out there who want to go into business and become an entrepreneur like you?
My advice to young people is simple: be prepared to work hard and stay focused. Starting a business isn’t easy, but with persistence, you can overcome the challenges. Also, don’t be afraid to take risks. Believe in your vision and be patient because success takes time. And most importantly, always have integrity—your reputation is your greatest asset in business.
What’s your philosophy of life?
My philosophy in life is to always aim for excellence. Whatever you do, do it to the best of your ability. I believe that success comes to those who work hard, stay disciplined, and never stop learning. Also, I believe in giving back—helping others is what makes the journey worthwhile.
Who is Jowosimi Olumide? Describe yourself.
I am a business-oriented person with a passion for entrepreneurship. Born and raised in Oshodi, I learned early on that hard work and perseverance are key to success. I’m someone who values integrity, excellence, and continuous improvement. In everything I do, I strive to bring value to my customers and make a positive impact. That’s who I am—someone who is driven by purpose and committed to making a difference.
What are your dreams and aspirations, especially as regards your business?
Our dreams include dominating Africa for mobile phones sales and consumer electronics at large.
We want to take gadgetry to a newer level.
