Nnamdi Ezeigbo Biography and Net Worth 2019 (Forbes)

Nnamdi Ezeigbo Biography and Net Worth


Net Worth $100 Million
Name Nnamdi Ezeigbo
Career Businessman, Entrepreneur
Source of Wealth Entrepreneurship
Born August 4, 1966
Age 53
State of Origin Abia State
Latest Update 2019

Nnamdi Ezeigbo is the CEO of SLOT Systems Limited and cofounder of leading mobile phone brands Tecno and Infinix in Nigeria.

These phone brands are the two most purchased phone brands in Nigeria, and they’re valued at billions of naira.

If you’re interested in knowing more about Nnamdi Ezeigbo, his net worth, profile, and business journey, this article is meant for you.

Early Life

Nnamdi Ezeigbo was born on the 4th of August, 1966.

He is an indigene of Umuahia, Abia State, Nigeria.

He was given birth to in Delta State, Nigeria.

Growing up, Nnamdi attended the Pamol Primary School, Sapele, where he obtained primary school education.

After rounding off with primary school, Nnamdi acquired secondary school education at the Ogini Grammar School, and Oghafere in his birth state – Delta State.

From 1979 to 1981, Nnamdi was been taught at the aforementioned secondary schools.

In 1988, Nnamdi Ezeigbo applied to study at the Yaba College of Technology.

He eventually got admitted into the school system to study Electrical Electronics Engineering.

He obtained a Higher National Diploma (HND) from the College of Technology and then proceeded to serving his country in 1996 at the Guiness Nigeria PLC.

After his NYSC year at Guiness Nigeria, he further went to study Computer and Electronics Engineering at the Lagos State University.

The study of the course lasted from 1996 (start of study at Lagos State University) to 2001 (end of the study at the University).

Fortunately, Nnamdi Ezeigbo graduated successfully with a 2.1 or second class upper degree.

Nnamdi didn’t stop at studying Computer and Electronics Engineering at the Lagos State University, he did his Masters in Information Technology at Ladoke Akintola University from year 2008 to 2009.

The University which is located in Ogbomoso, handed him a Masters degree at the end of the programme.

Nnamdi also took up an Entrepreneurship programme at the prestigious Harvard University.

Nnamdi began searching for a job in Nigeria after his NYSC programme elapsed.

There wasn’t any good job coming forth even as he had graduated with a good degree from the Lagos State University.

Career

With no hope of getting a good job, white-collar or blue-collar, Nnamdi went with no hesitation to into computer repairing business.

After learning under his employer for a period of six months, he decided to leave his initial employer because they were different in values and personality.

Nnamdi’s boss was into business basically to make money, he’d go as far as further confusing a customer just to collect every cash.

He neglected the other side of business just opposite making money – customer relationships.

The hunger for money by his boss was real bad, to the point that he once sold a cooling fan for N30,000 naira to a customer – an appliance that was sold for N3,000 naira at the time.

Nnamdi Ezeigbo couldn’t continue with this kind of businessperson solely into the business for money and nothing else.

He decided to establish his own shop after six months of working and learning everything he could.

Capital is needed to kickstand any business, and Nnamdi was having no capital at that time.

He moved with a friend who owned a bookstore at Ikeja, squatting with him in his shop.

He began fixing computers as a standalone repairer and soon gained a large base of customers.

He didn’t charge too much, and gave the right prices for problems detected.

The business grew slowly but heavily steadily as he built as healthy relationship with his customers, many of whom brought in more customers.

Nnamdi got approached one day by a customer who knew him during the time he worked at his boss’ computer repair store.

The customer actually came to his own store which would best be described as a small store.

The old-time customer told him he would love him to repair computers in a better environment than where he repaired computers.

To assist Nnamdi, he gave him printers to sell and that’s how things began to change.

After Nnamdi sold the printers, he used the money recovered to rent a new shop.

The new shop cost him N180,000 naira, but was later (after many years) sold for a staggering amount of N100 million naira.

Business grew with speed as he operated from the new store.

Customers needed him to do more than just repair computers as they often asked if mobile phones were sold from the shop too.

Slot shops were demanded to be established close to customer areas by customers themselves, and the growth was immeasurable.

Quickly, he began selling mobile phones to customers in addition to fixing broken or faulty computer systems.

The businessman was into business for real, and decided to undertake an MBA programme at the Lagos Business School.

Alongside, he got himself engaged in learning at entrepreneurial and business centred workshops.

Soon enough, Nnamdi set up a team and for 5 years, they had to route with the aim of building a very strong brand name in the country.

After the 5 year route, Nnamdi Ezeigbo and his team had successfully built the most reputable mobile phone retailer brand name in Nigeria – SLOT.

He became the #1 mobile phones retailer in Nigeria, and there was no competition meeting up to his game.

The Making of Tecno and Infinix Mobile Phone Brands

Nnamdi Ezeigbo as an intelligent businessman discovered that people often acquired more than one mobile phone in Nigeria due to poor telecommunications network services.

Realizing this, he approached Nokia, and offered them an idea to produce phones with two sim slots so that people would easily use two telecommunications network services instead of one in their phones.

Nokia ignored, they didn’t want people to have two sims in a phone.

They rather wanted people to purchase more of their phones, and then use two sims in two different phones – utterly expensive.

He could do nothing about Nokia shutting their ears to his idea, so he went to China and met a guy who previously worked with a mobile phone company called Bird.

The company ran out of business due to lost in market share.

Nnamdi brought the guy over to Nigeria, registered his phone brand name, and designed the first Tecno mobile phone – Tecno T101.

The phone was good, but improvement had to be made as it was not totally accepted by the market, and the problem of having two sim card slots in a phone was left unsolved by Tecno T101.

After some time, he designed Tecno 201. It was accepted, at least much more than the maiden product.

Tecno 201 was given out to marketers on credit and was funded solely by Nnamdi Ezeigbo.

This caused a regressive growth in the early start business, but later on, the business got strong and balanced overtime.

He and his team had the problem of getting the adequate quantity needed for sales until the market began accepting the brand.

In 2007, the demand for Tecno phones increased.

Retailers who ordered the phones on credit were made to pay in advance, and their money was used in ordering more phones and making more sales.

Tecno was initially designed to suit the pockets of low income earners, but due to the need for Nnamdi and his team to up their game and improve the brand, they designed it to the point of it becoming acceptable by the middle-class.

Several factors contributed to the success of the mobile brand, including the economic meltdown in 2008 which plummeted the purchasing power of the masses.

People needed to use phones that did same thing, had similar features with Samsung and Nokia, but they needed it at a cheaper rate – Tecno showed up, filling this gap, and the 3G network feature it possessed just like Samsung and Nokia Android phones made it gold.

Tecno actually made a lot of people smile.

People could enjoy the features of a N30,000 naira worth Android device in a N15,000 Tecno mobile phone.

It was affordable, relevant and solid.

After the importance of Tecno was seen by the public, and there was a surge in the demand for its many models, Infinix was designed to fit the lower class, middle-class, and upper class in the society.

Infinix came out as a masterpiece, with even better features than many existing Tecno mobile phones.

The brand, Tecno, gave birth to Infinix – they’re both powerful mobile brands in Nigeria birthed out of the imagination of Nnamdi Ezeigbo and his team.

Nnamdi regards Tecno as his baby, and then Infinix is the Technological device designed to suit the classes of people in the society.

Nnamdi Ezeigbo is a married businessman.

He’s a gentle personality, and is currently onto his business as the boss of SLOT Systems Limited.

Nnamdi Ezeigbo’s Net Worth 2019

Nnamdi Ezeigbo has an estimated net worth of $100 million dollars.

Nnamdi Ezeigbo net worth keeps rising due to the increase in the demand of his creative and intellectual technological solutions – Tecno and Infinix mobile phones.

The naira equivalence of Nnamdi Ezeigbo’s net worth is N35 billion.

10 Facts About Nnamdi Ezeigbo

  • Nnamdi Ezeigbo is a Nigerian entrepreneur.
  • He’s from Delta State.
  • He’s the cofounder of the leading mobile phone brands, Tecno and Infinix.
  • Nnamdi Ezeigbo is the founder and the CEO of SLOT Systems Limited.
  • He was born on the 4th of August, 1966.
  • Nnamdi Ezeigbo studied Electrical Electronics Engineering at the Yaba College of Technology.
  • He further studied Computer and Electronics Engineering at the Lagos State University.
  • The Nigerian entrepreneur obtained his Master degree in Information Technology at the Ladoke Akintola University.
  • He undertook MBA Programme at the Lagos Business School.
  • He also undertook an Entrepreneurship Programme at the Harvard University.

FAQs About Nnamdi Ezeigbo

Here are some of the most asked questions about Nnamdi Ezeigbo…

Where is Nnamdi Ezeigbo from?

He is from Abia State, precisely from Umuahia.

Is Tecno Owned by a Nigerian?

Yes. Tecno Mobile is co-owned by a Nigerian, Nnamdi Ezeigbo.

What is the Net Worth of Nnamdi Ezeigbo?

Nnamdi Ezeigbo’s net worth is an estimated $100 million.

3 Good Lessons from Nnamdi Ezeigbo

Creativity Pays

It pays to be creative – to leverage upon opportunities and invent something bigger than what the world knows.

Teamwork Truly Works

You can’t establish something of global quality by yourself. It now falls on your table to locate those with the skills you need, and then manage them.

ROIs Can Catapult in the Long Run

Apparently, return of investments do pay, especially if you’re smart and clever enough to predict the feasibility of the investments you make.

Highlights

These are the 3 best highlights of Nnamdi Ezeigbo’s career as a tech entrepreneur…

  • Tecno (Cofounder)
  • Infinix (Cofounder)
  • SLOT Systems Limited (CEO)

Summary

Nnamdi Ezeigbo is a Nigerian entrepreneur, and the CEO of SLOT Systems. He’s the cofounder of Infinix Android, and Techno Android devices.

Currently, he’s a married man, and has an estimated net worth of $100 million dollars.

What do you think about Nnamdi Ezeigbo’s net worth, biography, and business models?

Leave a comment below.

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