ONLY 30% OF NIGERIAN BUSINESSES SURVIVE THIRD GENERATION — EXPERT BLAMES POOR SUCCESSION PLANNING- PROF. ISIDAHOMEN
LAGOS – The survival of Nigerian businesses is under serious threat due to the absence of structured succession plans, leadership expert Prof. Ezekiel Isidahomen has warned. Speaking with journalists in Lagos, the Managing Director of Cutting-Edge Africa Leadership and Management Training said only about 30 per cent of indigenous companies survive beyond the third generation, with many collapsing after the death or incapacitation of their founders. According to him, the failure to establish clear leadership transition frameworks often leads to power struggles among family members, directors and management teams — battles that weaken or destroy otherwise thriving enterprises. “Our objective is to prepare business owners and corporate leaders for a successful transfer of power and ownership without creating bad blood,” Isidahomen said. “When founders pass on without a succession plan, conflicts arise. In many cases, the business suffers or collapses entirely.” ...