The challenges of succession and overreliance on founders will take centre stage at the 2026 Family Business Summit, scheduled for 15 to 17 October.
The organisers, My Family My Business, PwC Nigeria and BusinessDay, announced the dates in a statement sent to PREMIUM TIMES on Sunday.
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Themed “Beyond the Founder: Scaling Family Businesses Across Generations,” the three-day summit will examine how family-owned enterprises can transition from founder-led operations to professionally managed businesses that can survive leadership changes.
It will bring together family business owners, emerging leaders, wealth advisers and other industry professionals to discuss succession planning, governance, access to capital and the role of younger generations in sustaining family enterprises.
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Founder dependence
The summit convener, Oghenevwoke Ighure, said a family business’s ability to survive its founder should not be the only measure of its success.
According to him, such businesses must also create value, adjust to changing economic conditions, and provide opportunities for subsequent generations to build on the founder’s work.
“We are looking at what it takes to have the difficult and necessary conversations around succession, governance, leadership, capital and innovation before they become challenges,” Mr Ighure said.
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“We want this summit to be a space where families do not just talk about legacy but actively consider what it takes to build businesses that can carry that legacy forward.”
Succession is a persistent challenge for family businesses, particularly where decision-making, business relationships and access to capital remain concentrated around their founders.
The absence of formal governance structures and clearly defined leadership-transition plans can also create disputes among relatives and make it difficult for businesses to continue operating after founders retire or die.
Contribution to Nigerian economy
Findings presented by PwC Nigeria at the 2024 edition of the summit indicated that family businesses constitute more than 70 per cent of Nigeria’s small and medium-sized enterprises and contribute almost half of the country’s gross domestic product.
Despite their economic importance, many family-owned businesses struggle to separate ownership from management or establish structures that allow professionals and younger family members to participate effectively in decision-making.
Organisers said this year’s summit would combine discussions with practical sessions addressing succession, governance, professional management and business expansion.
The programme will include a Family Business Deal Room and a NextGen Bootcamp to prepare younger family members for leadership and management responsibilities.
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Speakers
Speakers scheduled for the summit include Bolaji Balogun, chief executive officer of Chapel Hill Denham; Sam Abu, Country Senior Partner at PwC Nigeria and Regional Senior Partner for the West Market; and Tara Fela-Durotoye, founder of House of Tara and author of Building Beyond You.
Others include Esiri Agbeyi, Partner and Africa Family Business Leader at PwC Nigeria; Temilola Adepetun, founder of SKLD Integrated Services Limited; and Dominique Turpin, President for Europe at the China Europe International Business School.
Executives from the banking, investment, corporate governance, wealth-management and family-office advisory sectors are also expected to participate.
PwC Nigeria will serve as the summit’s Academic and Knowledge Partner, continuing a partnership with My Family My Business that began with the initiative’s first edition.
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