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Bastardisation of "allow it", often used by youths who have been rude/outrageous and then wish to compound the effrontery by telling you to metaphorically "chill out".
Student : "Sir, you are well stink for making me learn this adding up crap."

Teacher : "There is no need for that bad language."

Student : "Lowit man!"
Lowit by Teacherer July 5, 2008
Related Words
löwig Lowie lowit Lowis loligarchy lowlights loligagger Lonigan llwigo lodwig

Lowis Gang 

Notorious Pilipino Gang !It started in East Van..
Person 1 Oh, look, its Lowgoz - god he's cool.
Person 2 omg yeah, i wish i was like lowgoz
Person 1 what the hell man, if you were like lowgoz you would never be as cool as him. It would be like "oh who came first, the chicken or the egg" and it would be stupid

Person 2 oh, ok. Ill go now
Lowgoz by Lowgoz November 9, 2009
Can I see the lorigin of Skyrim?
lorigin by Caladude December 10, 2015

Loligarchy 

Noun. A form of power structure in which power somehow rests with a small number of people whose stupidity and ineptitude are the object of much amusement but who somehow remain in power despite all their outrageous blunders.
“Trump’s America is a loligarchy.”

“Look out! Here come the loligarchs!” (As Ivanka and Don jr. enter the room.)
Loligarchy by Omegablink June 12, 2018
a person without a brain or a person who is very slow at talking.
A dumb kid: H-H-H-I-I David
Me: You're lowique, no offence.
lowique by Some_kid_you_dont_know August 11, 2020