Nigerian family businesses have been urged to strengthen governance, embrace succession planning and invest in next-generation leadership to build enterprises that endure beyond their founders.

The advice came during the Family Business Summit 2026 in Lagos, with the theme “Beyond the Founder: Scaling Family Businesses Across Generations,” where speakers noted that family businesses need more than the determination of their founders to endure, adding that they need the right structures, values and leadership to thrive across generations.

Organised by My Family, My Business, in partnership with BusinessDay and PwC, the summit featured keynote addresses, panel sessions, masterclasses, a Deal Room, a succession workshop and the Family Business Leadership Awards 2026, as discussions explored succession planning, family governance, investment strategies, global wealth structuring, women’s leadership, technology and international expansion.

In his welcome address, the Convener of the summit, Oghenevwoke Ighure, emphasised the need for family businesses to move beyond founder-dependent structures and establish institutions capable of surviving across generations.

“The success of this year’s summit reinforces our belief that family businesses need more than the determination of their founders to endure; they need the right structures, values and leadership to thrive across generations. Our goal is to create a platform where families can have honest conversations, learn from one another’s experiences and access the knowledge and networks required to build sustainable institutions. Ultimately, succession is not just about transferring ownership; it is about preparing the next generation to lead, preserve the family legacy and create even greater value for the future.”