By Chris Onuoha 

ValueTech, a Nigerian tech company is making waves with the launch of its new consumer electronics brand, Tolex. The launch event, held at Marriott Hotel in Lagos, showcased a range of innovative and competitively priced gadgets designed to appeal to the growing Nigerian tech market.

The Tolex line includes power banks boasting extended battery life, sleek Bluetooth speakers, wireless earphones offering a premium audio experience, and stylish smartwatches packed with features. ValueTech emphasized that Tolex products are designed with the Nigerian consumer in mind, offering a balance of functionality, aesthetics, and affordability.

According to the Chief Executive Manager, Alex Fagbamigbe, he stressed that The African consumer electronics market is projected to reach $22.3 billion by 2025 and Tolex is targeting 1% of the market at $202million which will consequently establish Tolex’s potential impact on the Nigerian market and ValueTech’s commitment to local innovation. 

He said: “ValueTech is a Nigerian consumer electronics company dedicated to delivering innovative and affordable technology to the Nigerian market. The company emphasizes quality, design, and customer satisfaction, aiming to empower Nigerians in the digital age.

“This launch is well-timed, coinciding with Nigeria’s burgeoning consumer electronics market with users focused on doing more and for us, we are in the market with products that give our audience the ‘Power To Do More’. A young, tech-savvy population and increasing digital penetration make Nigeria a prime market for innovative gadgets. ValueTech aims to capitalize on this by offering high-quality products at accessible price points, challenging established brands. The Tolex products readily available at Foramot Plaza, Computer Village, Ikeja, Lagos and other outlets around the country, can also be accessed through Value Tech websites for information and purchases.

“We are poised to empower Africa’s future by becoming a leading manufacturer of high-quality technology products that enhance the everyday lives of African consumers,” Fagbamigbe added.

Also speaking, the company’s Business Adviser, David Lanre Messan (GLM), said a detailed research was carried out to understand what consumers need before developing their products. “Nigerians are always on the go, and they rely on power banks to sustain their phones and other tech gadgets. We saw this as a problem to solve,” Lanre-Messan explained.

Meanwhile, the company also unveiled the product brand ambassador, a popular punter, Mayowa Ogunlade, better known as Mayor of Ekiti, as the brand ambassador of Tolex at the event. Ogunlade highlighted that some Tonex power banks are travel-friendly, unlike others that airlines restrict.

The product also received backing from the President of Lagos Gadget Dealers, Mr Emmanuel Jongbon and Deputy Director, HR/Admin of the Lagos State Real Estate Regulatory Authority (LASRERA) , Mr  Saheed Omotosho, who hailed Mr Fagbamigbe as a young, innovative entrepreneur with deep expertise in technology and consumer electronics.