Nigeria’s family-owned businesses are facing a critical continuity challenge as many remain heavily dependent on founders for leadership, decision-making, and business relationships, raising concerns about their ability to survive generational transitions.
This is one of the key findings of the Nigeria Family Wealth Report 2026, released by Meristem Family Office, a subsidiary of Meristem Securities, which examines the preparedness of wealthy Nigerian families to preserve businesses and assets beyond the founding generation.
The report presented by Kemi Ojenike, MD, Meristem Family Office found that 40 percent of respondents identified excessive dependence on founders as a major threat to long-term continuity, while only 20 percent reported having a clear written succession plan in place.
The findings highlight a common feature of many Nigerian enterprises, where founders remain the central drivers of strategy, customer relationships, operational oversight and key business decisions.
While founder-led leadership has helped many businesses grow and thrive, the report warns that such concentration of authority becomes a vulnerability when knowledge, ownership responsibilities and decision-making structures are not institutionalised.
