Poor Succession Plans Threaten Nigerian Businesses

Prof Ezekiel Isidahomen, Managing Director of Cutting‑Edge Africa Leadership and Management Training, warned that the lack of structured succession plans is jeopardizing many Nigerian businesses, with only about 30% of indigenous companies surviving beyond the third generation. Speaking in Lagos, he identified poor succession planning as a critical challenge for family-owned businesses and corporate organizations, leading to potential collapse after the founders' death or incapacitation.

To address this issue, Cutting‑Edge Africa, in partnership with Pebble Hills University, will host a two-day C-Suite Exclusive Masterclass on Succession Blueprint in Lagos on August 19 and 20. The program aims to equip founders, CEOs, managing directors, board members, and HR officers with strategies for effective leadership transition.

Isidahomen noted that succession disputes are common in family businesses with poorly documented ownership structures, which can disrupt operations. Participants will receive templates, regulatory guidelines, and documentation checklists to ensure business continuity during leadership transitions.