Dr. Stephen Akintayo, Chairman of GTEXT Holdings, has called on Nigerian governors to shift from political posturing to purposeful action by forging direct partnerships with entrepreneurs to drive job creation and economic growth.
Speaking at the Business Growth Conference for CEOs held in Abuja over the weekend, Akintayo emphasized the need for governors to create truly enabling environments for businesses to thrive.
“Governors must settle down and focus on developing their states,” he said. “Enough of jumping around after the president. They should hold quarterly meetings with entrepreneurs to understand real business challenges and develop solutions together.”
“Increased Funding, Yet Little Progress”
Akintayo criticized the lack of visible progress in many states, despite increased federal allocations.
“Most governors now receive three times more funding than before. So where is the development? Why are jobs still not being created?” he queried.
He stressed that entrepreneurs are not just business owners, but solution providers, adapting daily to Nigeria’s volatile economy. He cited innovations like gas vehicle conversions as examples of how business owners are creatively navigating rising fuel costs.
The Power of Knowledge and Exposure
However, Akintayo noted that innovation alone isn’t enough—knowledge and training are critical.
“Many businesses fail not because of the economy, but due to a lack of quality knowledge. People start businesses without proper training or understanding of how a business operates,” he said.
He revealed that the Business Growth Conference was created to address this gap by exposing entrepreneurs to real, actionable strategies, from capital raising and customer acquisition to going viral and networking.
“Leadership is important, yes. But running a successful business goes far beyond that. This conference covers the full spectrum,” he added.
Investing in People and Policies
Akintayo also emphasized the importance of personal development for entrepreneurs.
“You can’t run a business for 10 years and never attend a single training. If the founder doesn’t grow, how will the team grow?” he asked.
He urged state governments to actively invest in entrepreneurial education by organizing workshops and platforms where entrepreneurs can share challenges and receive policy support.
“Governors should create incentives that attract investors to their states. That’s what true development looks like,” he asserted.
Entrepreneurs Share Insights
At the conference, Seyi Adekunle (popularly known as Seyi Vodi), advised participants to focus on integrity, discipline, and client trust to build sustainable businesses.
“Don’t owe. Pay salaries. Be someone others are proud to associate with. If you take money, deliver on your promises,” he advised.
Meanwhile, Hansatu Adegbite, a respected women’s advocate, encouraged participants to prioritize networking with purpose.
“Connect with the right people who can add value to your vision. Meaningful relationships are key to business success,” she said.
Participants were also urged to research their markets, break limiting beliefs, and continuously reinvent themselves to remain competitive.
With Nigeria’s economy facing inflation, currency instability, and high operating costs, events like the Business Growth Conference are seen as crucial platforms for strategic exchange—reminding all stakeholders that collaboration between state governments and the private sector might just be the game-changer the country needs.
