Family Business Summit 2026: Calls for Stronger Succession Planning and Governance to Secure Generational Legacy

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The Family Business Summit 2026** has concluded in Lagos with a call for Nigerian family businesses to strengthen governance, embrace succession planning and invest in next-generation leadership to build enterprises that endure beyond their founders. Held from October 15 to 17 under the theme “Beyond the Founder: Scaling Family Businesses Across Generations,” the summit convened business leaders, entrepreneurs, investors, wealth management experts and family enterprise advisers for three days of discussions on business continuity, wealth preservation and sustainable growth.

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, Oghenevwoke Ighure, Convener of the summit, 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.”

Frank Aigbogun, Publisher of BusinessDay, Sam Abu, Country Senior Partner, PwC Nigeria and Regional Senior Partner, West Market, and Bolaji Balogun, Chairman and Chief Executive Officer of Chapel Hill Denham delivered keynote addresses, while Esiri Agbeyi, PwC Nigeria Partner and Africa Family Business Leader, presented findings from the PwC Africa Family Business Survey.

Bolaji Balogun, Chairman and Chief Executive Officer of Chapel Hill Denham, addressed the role of patient capital in building businesses that endure.

“Building a family business that endures across generations requires more than reinvesting capital; it demands a clear distinction between family wealth and corporate resources, strong governance, integrity and a relentless commitment to excellence,” Balogun said, stressing the importance of capital markets, long-term financing and developing the competence and character of future generations.

Sam Abu, Country Senior Partner, PwC Nigeria speaking on the importance of succession planning in family businesses, said:

“Inheritance is not the same as succession. While inheritance answers the question of ownership, succession goes much further to address who leads the business, how decisions are made, and the principles that guide those decisions. Building a family enterprise that thrives across generations requires deliberate structures and traditions that enable the business to evolve and transition successfully from one generation to the next, without remaining dependent on its founder.”

The summit featured contributions from prominent business leaders and international experts, including Deola Sagoe of The House of Deola, Tomi Otudeko of Honeywell Group, Cosmas Maduka Jnr. of Coscharis Group, Tara Fela-Durotoye, Professor Jeremy Cheung of CUHK Business School and Lansberg Gersick Advisors, and Professor Dominique Turpin of CEIBS Europe. Other contributors included Charity Maduka-McFoy of Coscharis Group, Nene Bejide Founder Blanche Aigle Communications, Foluke Oyeleye of Honeywell Group, Kemi Ojenike of Meristem Family Office, Idowu Thompson of FirstBank, Zipo Lai of Invest Hong Kong, and Claire Machin and Chad Phillips of Suntera Global.

The Family Business Leadership Awards 2026 recognised individuals and enterprises for their contributions to family business leadership, succession, innovation and stewardship. The late Otunba Michael Olasubomi “Subomi” Balogun, CON, received the posthumous Lifetime Achievement in Family Business Leadership Award. Honeywell Group received the Generational Excellence in Family Business Award, while Aminu Nyako of Sebore Farms was named Emerging NextGen Family Business Leader. Quits Aviation Group FZE and Coleman Wires & Cables received the Succession Planning Excellence Award; Toyin Bakare of SAS Textiles and Deola Sagoe of The House of Deola received the Women in Family Business Leadership Award; and Remi and Yinka Morgan of Laterna Ventures were recognised in the Couples in Family Business category. The Anyaegbu Family of Chisco Group was named Entrepreneurial Family of the Year, Coscharis Group received the Emerging Technology Award, and Ambassador Nimi Akinkugbe received the Family Wealth Literacy & Stewardship Champion Award and Special Recognition Award.

The summit concluded on October 17 with a NextGen Mixer at Ilashe Beach Resort, Lagos, bringing together emerging family business leaders to strengthen connections and reflect on the future of family enterprise. The summit was sponsored and supported by Suntera Global, Diya Fatimilehin & Co., Meristem Family Office, FirstBank, Jewellery Banc, HGL, SAS Textiles, Adenia, Capital Advisors, Mauritius Commercial Bank (MCB), Starzs, Bemil Security, Daily Need Group, Radix, Iron and The Glenlivet. Blanche Aigle Communications served as PR partner, Invest Hong Kong Family Office as strategic partner, CEIBS as academic partner, and PwC as knowledge partner.

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