Chairman of GTEXT Holdings, Dr. Stephen Akintayo, has called on Nigerian governors to take a more proactive role in supporting the private sector by directly engaging entrepreneurs and creating a genuinely enabling environment for business growth.
He made the call while speaking at the Business Growth Conference for CEOs held in Abuja at the weekend. The conference, which brought together business owners from across the country, focused on practical strategies for scaling businesses in Nigeria’s challenging economic climate.
According to Akintayo, the government, particularly at the sub-national level, must move beyond rhetoric and take concrete steps to foster job creation and wealth through the private sector.
“Governors need to settle down and develop their states,” Akintayo said. “They should stop jumping around like schoolboys, following the president up and down. Instead, they must begin to hold quarterly meetings with entrepreneurs to understand the real issues businesses are facing and co-create solutions.”
He added that many states had received increased funding in recent times but have little to show in terms of development or job creation. “Most of these governors have gotten three times more money now. Okay, what are they doing with it? Still, no development, and jobs are not created,” he said.
On the nation’s though operating environment, Akintayo emphasized that entrepreneurs are not just business owners but solution providers who must continuously adapt to economic realities. “The darker the environment, the brighter the light,” he remarked, explaining that despite Nigeria’s difficult business terrain, entrepreneurs have continued to evolve and innovate — citing the rise in gas vehicle conversions due to high petrol prices as an example of adaptive enterprise.
However, he warned that innovation alone was not enough, pointing out that a lack of access to quality knowledge and training is a key reason many Nigerian businesses fail. “Most times it’s because of the quality of knowledge. People start businesses without exposure, training, or understanding of how a business truly runs,” he noted.
Akintayo revealed that the Business Growth Conference was designed to tackle these gaps by exposing founders to practical aspects of running a business — including raising capital, customer acquisition, going viral, and effective networking. “Most business conferences only talk about leadership. Leadership is just one aspect. There are several other dimensions, and this event is addressing them all,” he said.
The GTEXT chairman also challenged business owners to take personal development seriously. “You’ll be shocked, some people have run a business for 10 years and never attended a single business training. If the founder doesn’t improve, how will the staff improve?”
While urging more private sector leaders to invest in learning and mentorship, he reiterated that state governments have a key role to play. “Government can invest in putting together workshops like this. Governors should create platforms where entrepreneurs can share their challenges and receive policy support in return.”
He further stressed the need for governors to woo investors and entrepreneurs into their states by offering meaningful concessions. “Convince entrepreneurs to come and do business in your state. Be willing to give them incentives that will make them want to stay. That is what development looks like,” he said.
Akintayo expressed optimism about the prospects of Nigeria’s Micro, Small, and Medium Enterprises (MSMEs), describing them as the backbone of the economy with limitless potential — if given the right support.
“With conferences like this, there are no limits. We just need to invest more in such platforms,” he concluded.
The Business Growth Conference continues to gain recognition as a critical platform for knowledge exchange and strategic growth, especially at a time when businesses are grappling with inflation, currency instability, and high operating costs. Observers say the message from the event is clear: meaningful dialogue and collaboration between state governments and entrepreneurs may be the missing link in Nigeria’s economic transformation.
Nigerian businessman Seyi Adekunle, popularly known as Seyi Vodi told the participants to prioritise building relationships and trust with their clients and dedication to work for them to be successful in their businesses. He also urged them to be visionary and disciplined in taking business decisions. “you must have integrity. Owe nobody. You must pay salaries. Build the integrity and discipline so that people can be proud of you. Somebody gives you money, you must deliver,” He stated.
A women advocate who also spoke at the conference, Hansatu Adegbite said aspiring people and companies must prioritise networking with the right people in their area of operation to break even. “So you network to build and connect meaningful relationships that add value both to you and your business,” she stated.
The participants were also urged to do research on how to break the ceiling of when stuck to break into the future and the market they aim to serve and benefit from.
