Lagos: Dr Stephen Akintayo, Founder of GText Holdings, says liquidity challenges remain a major threat confronting operators in Nigeria’s real estate sector. Akintayo spoke on Friday in Lagos during activities marking the company’s 18th anniversary celebration. He said many firms struggled because real estate investments tied down capital for long periods without immediate returns.
According to News Agency of Nigeria, Akintayo emphasized that not every struggling real estate company deliberately intended to defraud investors. He noted that several operators had faced similar challenges in recent years. ‘We have had our own fair share of liquidity issues. A lot of our colleagues also went through those liquidity challenges. Not all real estate companies are trying to play games. Many have liquidity issues and are trying to unlock liquidity in ways that failed,’ he said.
Akintayo revealed that the anniversary marked a major transition for the company toward global diversification. He explained that the company spent its first seven years in bulk SMS and digital marketing, and the next decade in real estate. According to him, the next phase will focus on agriculture, renewable energy, security technology, and artificial intelligence-driven businesses.
‘We are responding through aggressive diversification into agriculture, renewable energy, e-commerce, security technology and AI-driven businesses,’ he said. Akintayo added that the company’s strategy included initiatives like Ginido for green energy and security solutions linked to China, and GText Farms for commercial agriculture. He mentioned that the company was restructuring to attract institutional investors and strengthen global expansion.
Akintayo disclosed that GText was expanding into private security solutions through partnerships with major CCTV manufacturers in China. ‘We are partnering with major CCTV manufacturers in China. The plan is to begin assembling security cameras locally before eventually producing them in Nigeria,’ he said. He added that the security business would deploy AI-powered surveillance systems, body cameras, and emergency response technologies.
On Artificial Intelligence, Akintayo stated that the company had already achieved over 50 percent AI adoption among its workforce. ‘For us, AI is not optional. One person can now do the work of 20 people by leveraging AI,’ he said. However, he warned that AI could significantly reduce white-collar jobs globally, projecting that about 70 percent of such jobs will disappear, urging young people to embrace practical and entrepreneurial skills.
During the anniversary celebration, the company also trained realtors to improve professionalism within the real estate industry. According to him, the four-day training covered digital marketing, land titling, deal closure strategies, and global property opportunities. Additionally, GText distributed fuel and cooking gas to more than 1,000 beneficiaries in Lagos and Abuja, in partnership with Rainoil and Petrocam.
Also speaking, the Deputy Group Chief Operating Officer of GText Holdings, Mr Farouq Usman, highlighted the Developers and Investors Conference and Exhibition. Usman noted that the programme was designed to expose aspiring realtors to opportunities in property investment and land banking. Entrepreneur and Chief Executive Officer of Pamtech Group, Mr Ndubisi Chidomere, urged developers to adopt innovative approaches in property development, emphasizing the importance of building with the future in mind to meet changing market demands and lifestyle needs.
Chidomere also stressed the importance of the media in promoting the real estate sector, describing it as a vital tool for visibility, public education, and industry development. ‘The media serves as a form of research and development by educating the public and showcasing products and services,’ he said.
An industry expert, Mr Eizu Uwaoma, advised aspiring entrepreneurs against taking loans to start real estate businesses, warning that excessive bank interest could undermine sustainability and long-term growth.