Dr. Stephen Akintayo is the Chief Executive Officer of Stephen Akintayo Consulting International and Gtext Holdings, a foremost real estate conglomerate which has become one of the most reliable in the industry, with several branches across the world. Akintayo, a celebrated author with over 40 books to his credit, was the winner of the Forbes Best of Africa Leading Investment Coach award in 2023. In this interview with ROTIMI IGE, he spoke on his entrepreneurship journey, why real estate disputes are civil cases, how he has been able to revolutionise the real estate sector in Nigeria and across the world.
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.
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.
However, when a company collapses due to unwarranted attacks, it is the staff who suffer. We’ve seen cases where founders relocate abroad and start new ventures, but it’s Nigerian employees who lose their jobs. That creates an even bigger economic problem. If you have a genuine grievance, take legal action instead of attempting to destroy businesses.
Is real estate as profitable as people assume?
Not exactly. Many assume there is unlimited money in real estate, but those running ethical businesses often struggle financially. The industry faces liquidity challenges. If you see anyone living extravagantly, chances are they’re using investors’ funds.
What is the right way to handle investors’ money in real estate?
Integrity is key. When people invest in your business, they trust you with their hard-earned money. It’s your responsibility to ensure their funds are handled responsibly. A company should be structured so that if anything goes wrong, investors can still retrieve their money.
The real assets should be on the ground if you have 1,000 plots, you should not sell 10,000. Clear conscience and ethical business practices should be the foundation of any real estate venture.
Many customers don’t see the risks real estate developers take. Can you share some experiences?
Absolutely. I once traveled by boat to Asaba just to personally inspect a property for an estate. Meanwhile, some investors are enjoying their lives in Canada without realizing the sacrifices we make.
There have been cases where properties purchased had ritualistic objects placed on them, and I had to personally remove them. These are risks that real estate professionals take daily, yet they are often unappreciated.
Q: Any final words for the real estate industry?
A: Real estate is about trust, commitment, and problem-solving. Developers must operate with integrity, and customers must recognize the challenges within the sector. Instead of spreading misinformation, it’s important to address concerns through the right legal channels. Only then can we build a stronger, more sustainable industry.
Q: What final advice do you have for young entrepreneurs?
A: Stay focused, be patient, and handle disputes the right way legally, not emotionally. Build your business with integrity, and don’t let social media pressure you into unnecessary battles. Success is a journey, not a sprint.
Q : You love northern caps. I want to know…I will love you to touch on your fashion , because I also lived in the north, the major part of my life.
Dr . Akintayo Stephen : It connects me to my northern roots. That one is easy. The Agbada and the northern cap. I would expect you to wear Senator.
Interviewer: Maiduguri.
MS TOMS: He’s an urban man that is from the north.
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Dr.Akintayo Stephen: I was born in the north.but I am not from the north , I am an egba man, from Abeokuta.
MS TOMS: You were born in the north.
Dr Stephen Akintayo: I was born in Maiduguri , so I grew up in Maiduguri. You grew up in Maiduguri, but you’re not from Maiduguri
Another lady : Where are you from?
Dr Stephen Akintayo: I’m a yoruba man. Yoruba man.
Dr Stephen Akintayo: And don’t let him know this , my king has said he must not see me in this cap, you know, so nobody must show him. The last time I went to his palace, he had to tell my friends that came with me that they must buy me a Yoruba cap. And indeed, my friends did. They bought me those Yoruba caps. I say I must always wear the Yoruba cap. But for me, the cap just helped me connect back to my northern heritage. You know, the Agbada is neutral, right?, to all brands.
