‘Poor succession plans threaten Nigerian businesses’

A leadership expert and Managing Director of Cutting‑Edge Africa Leadership and Management Training, Prof Ezekiel Isidahomen, has said the absence of structured succession plans is threatening the survival of many Nigerian businesses, with only about 30 per cent of indigenous companies surviving beyond the third generation.

Speaking with journalists in Lagos, Isidahomen described poor succession planning as one of the most critical challenges facing family‑owned businesses and corporate organisations, warning that many thriving enterprises collapse after the death or incapacitation of their founders.

According to him, the failure of business owners to establish clear leadership transition frameworks often leaves family members, directors and management teams locked in succession battles that weaken or destroy companies.

He said, “Our objective is to prepare business owners and corporate leaders for a successful transfer of power and ownership without creating bad blood.

“When founders pass on without a succession plan, conflicts usually arise among family members, the board and management over who should take over. In many cases, the business suffers or collapses entirely.”

To tackle the growing challenge, Isidahomen said Cutting‑Edge Africa Leadership and Management Training, in partnership with Pebble Hills University, United States, would host a two‑day C‑Suite Exclusive Masterclass on Succession Blueprint in Lagos on 19 and 20 August.

He said the programme is designed for founders, chief executive officers, managing directors, board members and chief human resource officers, equipping them with practical strategies for seamless leadership transition and business continuity.

Isidahomen noted that succession disputes are particularly common in family businesses where ownership structures are poorly documented, adding that disagreements among heirs often trigger regulatory bottlenecks, including restrictions on company accounts, which disrupt business operations.