The Lagos Business School (LBS) is taking a bold step in securing the future of family-owned businesses by equipping them with essential strategies for succession planning, governance, and long-term sustainability.
As part of this initiative, LBS will host its International Family Business Conference 2025 on March 27, 2025, in Lagos, under the theme “Building a Lasting Legacy for Family Businesses.”
Empowering Family Enterprises for Generational Success
LBS underscores the importance of transitioning family businesses into legacy-driven institutions, ensuring they not only endure but flourish across generations.
“This conference is a crucial platform for sharing insights, fostering connections, and equipping family businesses with the tools necessary for long-term success,” LBS stated.
The event will spotlight key areas such as:
Succession Planning – Preparing the next generation for leadership.
Governance Structures – Establishing policies and accountability frameworks.
Financial Stewardship – Ensuring wealth management strategies sustain business growth.
Technological Integration – Leveraging innovation to future-proof family enterprises.
The Reality of Family Businesses in Nigeria
Research indicates that over 75% of businesses in Nigeria are family-owned. However, only 30% survive beyond their founders.
Speaking at a pre-event press conference in Lagos, Sarumi Rasheed, a member of the Family Business Advisory Committee at LBS, highlighted the pivotal role of these businesses in national development:
“When properly managed, family businesses can drive Nigeria’s GDP growth, create employment opportunities, and alleviate poverty.”
Dr. Okey Nwuke, Director of the Family Business Initiative at LBS, echoed these sentiments, emphasizing the economic significance of family enterprises.
“This conference provides family business leaders and successors with a platform to tackle challenges, capitalize on opportunities, and ensure their enterprises thrive beyond the founding generation.”
Conference Highlights & Keynote Speakers
The event will bring together seasoned entrepreneurs, industry experts, and thought leaders, including:
Keynote Speaker – Aig-Imoukhuede, Co-founder, TenGen Family Office
Panelists & Moderators:
Prof. Enase Okonedo, Vice Chancellor, Pan-Atlantic University, Nigeria
Prof. Olayinka David-West, Dean, Lagos Business School
Esiri Agbeyi, Partner, Private Wealth Services, PwC
Dr. Cosmas Maduka, Founder/CEO, Coscharis Motors
A Legacy That Stands the Test of Time
As family businesses form the backbone of Nigeria’s economy, LBS is leading the charge to ensure these enterprises not only survive but thrive for generations to come.
