The 2026 Family Business Summit is scheduled for 15 to 17 October and will examine the challenges of succession and overreliance on founders. The organisers, My Family My Business, PwC Nigeria and BusinessDay, announced the dates in a statement. The summit's theme is “Beyond the Founder: Scaling Family Businesses Across Generations.” It aims to help family-owned enterprises transition from founder-led operations to professionally managed businesses.
The summit will bring together family business owners, emerging leaders, wealth advisers and industry professionals to discuss succession planning, governance, access to capital and the role of younger generations. Founder dependence is a significant challenge for family businesses, particularly where decision-making and access to capital remain concentrated around their founders. A lack of formal governance structures and leadership-transition plans can create disputes among relatives.
Oghenevwoke Ighure, the summit convener, said a family business's success should not be measured solely by its ability to survive its founder. Such businesses must create value, adjust to changing economic conditions, and provide opportunities for subsequent generations. The summit aims to facilitate discussions on succession, governance, leadership, capital and innovation before they become challenges.
Succession is a persistent challenge for family businesses in Nigeria. Many struggle to separate ownership from management or establish structures that allow professionals and younger family members to participate effectively in decision-making. The absence of formal governance structures can make it difficult for businesses to continue operating after founders retire or die.
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, according to findings presented by PwC Nigeria at the 2024 edition of the summit. Despite their economic importance, many family-owned businesses face significant challenges in sustaining their operations.
The 2026 summit will 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. Executives from various sectors, including banking and investment, are expected to participate.
Speakers at the summit include Bolaji Balogun, chief executive officer of Chapel Hill Denham, and Tara Fela-Durotoye, founder of House of Tara. Others include Esiri Agbeyi, Partner and Africa Family Business Leader at PwC Nigeria, and Dominique Turpin, President for Europe at the China Europe International Business School. PwC Nigeria will serve as the summit's Academic and Knowledge Partner.
Key points
- Family businesses contribute almost half of Nigeria's gross domestic product.
- The summit will address succession planning, governance, and access to capital.
- The event aims to help family businesses transition from founder-led operations to professionally managed businesses.
