Lontor secures N1.2bn investment from eight partners

Lontor Hi-Tech Development Company has secured a boost for its 2026 growth strategy as eight partners committed a combined N1.2bn to the company’s newly launched Wuling Bus Partnership Programme.

The investment was announced through a statement signed by the Head of Marketing of the company, Kenneth Ozomah, on Monday, after the firm’s 2025 Business Conference held three days ago.

The annual conference, themed “Growing Stronger Together,” brought together dealers, distributors, partners, and industry stakeholders from across Nigeria to review the company’s progress, unveil new innovations, and strengthen collaborations.

In his welcome address, Ozomah said the event demonstrated Lontor’s commitment to innovation and shared growth.

“This conference was not just another gathering but one that signals innovation, collaboration, partnership, and growth, showing where we are, where we are going, and how together we can drive success in Nigeria and beyond,” he said.

He added, “Eight major partners immediately subscribed to the initiative, each committing N150m, bringing total participation to N1.2bn. The investment signaled strong confidence in Lontor’s long-term vision of inclusive growth and sustained dealer empowerment.”

During the conference, the company also unveiled new additions to its product portfolio, including the MI Smart TV range, a suite of energy-efficient kitchen appliances, and next-generation RESS and ESS solar solutions featuring 5kVA and 15kVA inverter systems.

Managing Director, Lontor Hi-Tech Nigeria, Mrs Eniola Olutimilehin, also commended the resilience of the company’s dealers, noting their crucial role in expanding Lontor’s footprint nationwide.

The tech-based company in 2024 rolled out a renewable energy system that helps minimise electricity costs in the face of rising energy costs in the country. The company said the product, Residential Energy Storage System, is solar-based but has the capacity to cut energy costs by about 80 per cent.

The highlight of the event was the keynote address by Chief Diana Chen, Chairman of Choice International Group, Lontor’s parent company. She unveiled the Wuling Bus Partnership Programme, an empowerment initiative designed to improve dealer mobility, enhance logistics efficiency, and deepen market penetration.

“The Wuling Bus is more than a vehicle; it is a tool for growth that will enable our partners to activate communities and strengthen the Lontor brand presence nationwide,” Chen said.

Source: https://punchng.com/lontor-secures-n1-2bn-investment-from-eight-partners