Iran War: Zinox Urges Local Tech Manufacturing to Shield Nigeria From Global Shocks

Nigeria’s growing exposure to global economic shocks has come into sharp focus amid the ongoing tensions involving Iran, the United States, and Israel, prompting renewed calls for stronger local capacity. Chairman of Zinox Group, Leo Stan Ekeh, has urged Nigeria to invest aggressively in domestic technology manufacturing to reduce its vulnerability to external disruptions affecting energy prices and supply chains.

Speaking in a statement on Wednesday, Ekeh noted that the escalating conflict has once again revealed the fragile nature of Nigeria’s economy, particularly its dependence on imports. Despite being a major crude oil producer, Nigeria has still felt the impact of rising global oil prices, with fuel costs reportedly jumping by about 35 percent at local pumps as crude surged past $100 per barrel.

Ekeh described the situation as a troubling paradox, where a resource-rich nation remains heavily affected by crises occurring far beyond its borders. He emphasized that the impact extends beyond the energy sector, warning that Nigeria’s technology ecosystem—largely reliant on imported hardware—is equally at risk when global supply chains are disrupted.

Highlighting Zinox Technologies as an example, Ekeh said indigenous manufacturing can serve as a pathway to economic stability and technological independence. He called on the government and private sector stakeholders to support local tech companies through policies and investments that encourage the assembly and production of digital devices within Nigeria. According to him, this approach would not only reduce foreign exchange pressure but also create jobs and boost knowledge transfer.

He further stressed that building local capacity goes beyond economics, describing technology as both a commercial and strategic asset in today’s world. With global uncertainties threatening supply routes like the Strait of Hormuz, Ekeh warned that only nations with strong domestic production capabilities will remain resilient. He concluded that Nigeria must shift from a consumption-driven economy to one focused on production, innovation, and long-term sustainability.

source: Arise