Dr. Stephen Akintayo, is the Founder and Chairman Gtext Holdings, a company with hands in real estate, entertainment and more, passionate about empowering youths and building capacity in people. The serial entrepreneur and humanitarian, who is also the president of the Stephen Akintayo Foundation, speaks with i-GEN NEWS team lead, GBENGA BADA on why he employs young people, his thoughts on mentorship amidst other sundry issues.
You talked about your youthful days as a businessman and how tough it was for you. Many young Nigerians are trying to venture into different businesses; some in real estate, some in digital content, and so on. Can you take us through your experience as a young entrepreneur?
My story is a very humbling one. We officially registered our company in 2008, but before that, I had read a book called ‘Rich Dad, Poor Dad,’ it made me realise that becoming wealthy wasn’t just about going to school and graduating, you have to understand the difference between assets and liabilities, investment concepts, and business ownership.
When I got into university, I was determined to try my hands on any business opportunity. I started my first business at 18 and it was tough. Most of my early ventures didn’t succeed; I sold popcorn, hawked electronics and tried several other things. After graduating, I submitted my CV with a cover letter stating that I would work for six months without pay to prove my worth. No one gave me a job.
One day, someone I submitted my CV to advised me: “You started business when you were young and have some experience, why not continue instead of job hunting?” That struck a chord, and I decided to persist. I printed A4 posters, pasted them around town, and advertised my services.
What were some of the biggest challenges you faced in those early days?
There were so many challenges, but one that stands out was financial instability. I had no capital and there was no support system. I remember one night when I had no money to eat, yet I was determined to keep going. I had to rely on sheer persistence and resourcefulness.
Another challenge was getting people to trust me as a young entrepreneur. Many potential clients doubted my ability because of my age. I had to work twice as hard to prove myself.
At what point did things start to change for you?
The turning point came when I secured my first big contract. It wasn’t easy, but my persistence paid off. I also started learning more about branding, networking, and marketing, which helped me scale up.
I noticed many of your MDs, CEOs of the subsidiaries of your Gtext Holding are young and below 40, is this intentional and why?
It is intentional even though we also have made sure our group CEO, who doesn’t operate from Nigeria is a more older man in his 50s, same as the CFOs and few other staff members but the MDs and the CEOs are younger because some of them started with us as an intern and some have been there when we couldn’t even afford to employ some of the big boys we now have in our employ. I am big on rewarding loyalty, so you don’t say because you can now afford the older seasoned professionals, you put the young guys in the back because of experience. Why not groom them, why not pair them, some of them have general managers that are older than them but we have groomed them to know that even if you are given a senior role, be respectful to those that you are working with. One of the new MDs sold billions last year and she may be young but she’s pulling her weight and sometimes some of these older people will not bring a dime despite knowing the English but the sales aren’t in them. I think we are experimenting with something that others will start using as a template and these young people know the responsibilities on their shoulders. They are aware that we are intentionally pushing them to the forefront and have a duty not to disappoint us because it will discourage such risk than we are taking in them.
What advice do you have for young entrepreneurs trying to navigate the business world today?
First, resilience is key. You will face a lot of challenges, but consistency will set you apart. Second, never stop learning. Read books, attend seminars, and seek mentorship. Finally, be willing to adapt. The business world is constantly evolving, so flexibility is essential.
How did this experience shape your career and drive for success?
It put me on an adrenaline rush that I still haven’t recovered from, even after things got better. I was in my early 20s, and I had no choice but to push forward. My mother worked for the government for over 30 years, yet she suffered at the hands of her own colleagues. She was an accountant at National Electric Power Authority (NEPA) known for helping people. Even when we had nothing at home, her kindness brought in small rewards sometimes just N20* from grateful customers, which became our dinner.
But when she needed help the most, the system failed her. If she had been a man, perhaps they would have taken her case more seriously.
Can you share the moment you realised your mother’s health was critical?
I was told she was nine months pregnant, but that didn’t make sense. Everyone around started crying, and they decided to take her to a private hospital. What government hospitals couldn’t diagnose for almost a year, the private hospital identified in just four days and it was ovarian cancer. They performed surgery, but the cancer had already spread. The doctors told us to prepare for the worst. Of course, I was angry. I told my mother, “The doctor is a devil. There’s nothing God cannot do.” But deep down, I knew she was in pain. She eventually passed away.
What was the hardest part of losing her?
The realisation that money could have saved her or at least given us more time. The entire cost of treatment was just N800,000. If I had that money, she might have lived longer. She died at a time when we were preparing for my older brother’s wedding. She didn’t get to see any of it.
That experience changed me. It made me decide that anything legal that would earn me money, I would do regardless of what anyone thought. I learned the hard way that being poor in this country is like signing up for suicide.
What advice would you give to young Nigerians who choose to build from nothing?
We are succeeding! The key is to surround yourself with the right people. One mistake young people make when they start succeeding is surrounding themselves with ‘yes sir’ people who flatter them but won’t be there when things go bad. I intentionally connected with older, wiser people who tell me the truth. They help me manage crises and prevent unnecessary battles.
Another important thing is patience and humility. When you succeed too early, arrogance can become your downfall. People will provoke you, but you have to learn to stay calm. You won’t catch me reacting emotionally online. You can write whatever you want about me I won’t respond. But if you defame me, I will sue you.
What are the key variables for success in business?
Hard Work. I work 12–16 hours a day, starting from 4 or 5 a.m. Sometimes, I don’t sleep until 2 a.m. People talk about ‘smart work,’ but there’s no shortcut to real success.
Also, mentorship and honoring mentors: Many young people think mentors should only give them money,I believe the opposite you should honor your mentors, Even if your mentor is richer than you, send them a small gift to show appreciation. One of my mentor’s assistants told me, “You’re one of the only two people in 40 years who didn’t come around just to ask for money”. If you only seek financial help from mentors, why should they prioritise you? Seek wisdom first.
What role does knowledge and real estate play in your success?
One, the power of reading. Leaders are readers. Your reign in any industry depends on the quality of information you have. A book changed my life, ‘Rich Dad, Poor Dad’. That’s why I’ve written about 40 books to pass on knowledge.
Second are real estate misconceptions. Real estate cases are civil, not criminal. If you have issues, take them to court. Not everyone in real estate is rich. The industry has liquidity challenges. If someone is living extravagantly, they’re likely using investors’ money.
Business should be run with integrity. Customers may not understand the risks we take. We risk our lives for our clients. I travel personally to inspect lands, even in dangerous areas.
People abroad complain about delays, but they don’t know the extent we go to secure properties. I’ve removed rituals from lands myself!
You’ve written over 40 books. What motivates you to share knowledge?
A book changed my life, and I believe in paying it forward. By writing and sharing insights, I ensure that those who wish to follow my path have access to the right knowledge.
Many people believe attacking a company affects only the founder. Is this true?
Not at all. If you attack a real estate company like G-Tex Homes, you’re not hurting just me you’re affecting employees whose livelihoods depend on it. I have built my wealth to a level where even if this company shuts down, I will never be poor. My income from consulting, coaching, and books sustains me.
