Buying Used Phones Can Land You in Jail –Jowosimi Olumide, JayPlug Gadgets CEO

Young entrepreneur Jowosimi Olumide has taken his passion for business, the experiences he 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.

“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 Gadgets was born,” he explained.

Today, Jowosimi runs a thriving business despite the current harsh economic situations of the country.

“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”.

Speaking about what the government can do to help young businesses at this difficult time, he says, “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”.

He also advises people to be very careful when purchasing used phones. “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”.

The young entrepreneur who’s favourite gadget is the iPhone which he describes as a powerful tool not just for communication but also for businesses.

He is a graduate of Biochemistry from the University of Lagos and his ultimate goal is to have 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.