Nigerian Firms: Only 30% Survive to Third Generation

Prof. Ezekiel Isidahomen, Managing Director of Cutting-Edge Africa Leadership and Management Training, stated that only 30% of indigenous Nigerian businesses survive to the third generation, underscoring the critical need for structured succession planning.

He explained that the lack of organized succession plans poses significant threats to family-owned businesses and corporate organizations, often resulting in leadership crises upon the death or incapacitation of founders. To combat this issue, Cutting-Edge Africa Leadership and Management Training, in collaboration with Pebble Hills University, will host a two-day summit in Lagos on August 19 and 20, 2026, themed “Succession Blueprint for the C-Suite Exclusive Masterclass.” The summit aims to equip business leaders with strategies for effective leadership transitions.

Participants will receive templates and regulatory guidelines necessary for ensuring business continuity. Isidahomen also identified challenges such as rising production costs, insecurity, and corruption as hindrances to business growth in Nigeria, calling for collaboration between government and the private sector to address these issues.