A concerning trend has emerged in the Nigerian business landscape, where only about 30 percent of indigenous firms manage to survive into their third generation. This statistic underscores a critical vulnerability in the country’s corporate sector, highlighting an urgent need for more robust, structured succession planning.
Prof. Ezekiel Isidahomen, Managing Director of Cutting-Edge Africa Leadership and Management Training, recently drew attention to this issue during a media engagement in Lagos. He pointed out that the lack of formal succession strategies is currently one of the most significant threats facing both family-run businesses and larger corporate entities. When founders pass away or become unable to lead, this absence of planning frequently triggers leadership crises that can fracture organizations.
According to Isidahomen, many founders neglect to establish clear frameworks for the future, which often leads to internal friction. When ownership transitions are not clearly mapped out, family members, board members, and management teams often find themselves entangled in disputes. These conflicts can fundamentally weaken, or in some cases completely dismantle, enterprises that were once thriving.
To help mitigate these risks, Report says that Isidahomen’s organization is teaming up with Pebble Hills University in the United States to host a specialized two-day event in Lagos. Scheduled for August 19 and 20, 2026, the summit is titled “Succession Blueprint for the C-Suite Exclusive Masterclass.” The program is tailored for founders, CEOs, managing directors, board members, and human resource leaders, providing them with the practical tools necessary to manage seamless leadership transitions.
The ultimate goal, Isidahomen explained, is to empower these leaders to navigate the complexities of transferring power and ownership without generating the kind of animosity that often tears businesses apart. He noted that succession disputes are particularly rampant in family businesses where ownership structures are poorly documented. Such oversights frequently lead to bitter conflicts among heirs, complex regulatory hurdles, and even frozen company accounts that can grind operations to a halt.
Attendees at the upcoming summit will be provided with actionable resources, including regulatory guidelines, documentation checklists, and templates recognized by financial institutions and oversight bodies like the Securities and Exchange Commission. Isidahomen described the event as a “solution summit” intended to ensure that organizations remain sustainable and operational, even when the original founders or top executives are no longer at the helm.
Beyond the internal challenges of succession, Isidahomen acknowledged the difficult external environment currently facing Nigerian enterprises. He cited the rising cost of production, volatile energy prices, pervasive insecurity, and the mass migration of skilled professionals as major obstacles to growth. He warned that the ongoing loss of experienced human capital combined with the climate of insecurity is severely discouraging investment.
He advocated for a more integrated approach, calling for stronger collaboration between the government and the private sector to address these economic and security pressures. He emphasized that resolving issues like corruption and insecurity is not a task for the government alone, but one that requires the active and sustained participation of every citizen.
The upcoming summit is set to feature a lineup of experts, including Hannibal Uwaifo (SAN), Prof. Eze Chidi Nwauba, and Nkem Chima from Pan-Atlantic University, who will share insights on corporate governance and sustainable management practices.
