“When the outdated man dies, a library burns to the bottom.” — Malian Proverb
In lots of African societies, the elder is seen not simply as an individual however as a vessel of collective reminiscence, knowledge, and lived expertise. When that information isn’t transferred, it’s misplaced. This proverb has particular resonance in Nigeria, the place the sudden or poorly managed departure of a founder or enterprise chief typically indicators the decline of the enterprise itself. The failure to institutionalise succession planning has grow to be one of the crucial persistent weaknesses in our company and entrepreneurial panorama.
From the Sixties to the Nineteen Eighties, Nigeria skilled a wave of indigenous enterprise creation—a lot of them visionary in scope and rooted in nationwide improvement aspirations. But, many years later, the ruins of these companies are a stark reminder that constructing an organization is just half the job. Sustaining it’s the actual take a look at. Throughout all six geopolitical zones, examples abound.
Within the South-South area, African Timber and Plywood (AT&P) in Sapele, Delta State, was as soon as a formidable industrial power and main employer. It faltered as its European founders exited, and subsequent Nigerian-led administration couldn’t maintain it. A scarcity of management continuity and strategic planning contributed to its eventual collapse.
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Within the Northwest, Kaduna Textiles Restricted (KTL), one of many oldest textile mills in Nigeria, loved state help and regional satisfaction within the early years. It was a beacon of northern industrialisation. However poor governance, ageing infrastructure, and the absence of a long-term management plan led to its shutdown within the early 2000s, regardless of quite a few revival efforts.
The story of Azigbo Brothers Restricted within the South-East follows an analogous trajectory. Based by the late Chief Joseph Azigbo within the Sixties, it thrived in the course of the post-colonial industrial increase. However after his passing, the enterprise disintegrated. His successor lacked mentorship, and with no structured information switch, the enterprise couldn’t survive market and operational pressures.
Within the Southwest, the legacy of Odutola Tyres reminds us that even visionary establishments are usually not immune to say no. Established by Chief Adeola Odutola, a revered industrialist and nationalist, the corporate was as soon as an emblem of Nigerian self-sufficiency. However following his demise within the Nineties, a management vacuum and strategic drift ensured it could not survive the liberalisation wave that adopted.
From the Northeast, Borno Oil Mills presents yet one more case. Positioned in Maiduguri to faucet into the area’s agricultural potential, it struggled to recuperate after the founder’s departure. Management disputes, monetary mismanagement, and the absence of a coordinated succession plan stalled all makes an attempt at revival.
In North-Central Nigeria, Jos Worldwide Breweries as soon as competed with the largest beer manufacturers within the nation. As newer entrants arrived and company governance expectations developed, the brewery did not hold tempo. A scarcity of professionalised administration and poor management continuity eroded investor confidence and market share.
“With out these reforms, the sample will repeat itself. Founders will cross on. And with them, the institutional reminiscence, market insights, and enterprise relationships they nurtured over many years will vanish. The enterprise dies, and with it, the hopes of the following technology.”
These examples, whereas tragic, are usually not stunning. Quite a few research affirm the size of the issue. A 2015 survey performed by Nigerian enterprise researchers discovered that greater than 90 % of household enterprise homeowners had no formal succession plan in place. A global evaluation printed in 2021 famous that fewer than 5 % of Nigerian family-owned enterprises make it into the third technology. That is alarming, contemplating that micro, small, and medium-sized enterprises—a lot of them family-run—contribute 48 % of Nigeria’s GDP and make use of over 80 % of its workforce, in accordance with the Nationwide Bureau of Statistics and the 2021 SMEDAN/MSME survey.
In distinction, world firms which have survived centuries have completed so as a result of they deal with succession planning as a core component of their technique. Procter & Gamble, as an example, promotes practically all its senior leaders from inside. Executives typically spend many years rising by the ranks, supported by mentorship, efficiency monitoring, and deliberate job rotation. The result’s a steady management bench that upholds institutional information and firm tradition. In Sweden, the Wallenberg household enterprise empire has efficiently transitioned throughout six generations. Value over $700 billion in worth, it’s managed by robust governance, early grooming of successors, and the separation of possession from government management.
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The Nigerian enterprise group has a lot to be taught from these fashions. We should first settle for that succession planning isn’t an indication of retirement or weak point. It’s a signal of accountability. Planning ought to start early within the lifetime of a enterprise—not when the founder is ailing or able to exit. Future leaders should be recognized, mentored, and examined throughout roles. Data should be shared, not hoarded. Governance should be structured to cut back battle and encourage continuity. And maybe most significantly, family-owned companies should be prepared to let go of energy when the time comes and empower these with the capability to guide.
With out these reforms, the sample will repeat itself. Founders will cross on. And with them, the institutional reminiscence, market insights, and enterprise relationships they nurtured over many years will vanish. The enterprise dies, and with it, the hopes of the following technology.
The hearth that burns in that library isn’t a poetic metaphor. It’s an financial actuality: burning jobs, wiping out capital, and decreasing many years of effort to footnotes in historical past. As a rustic, we can’t afford to maintain shedding our entrepreneurial establishments at this fee. Succession is not only an HR concern; it’s a nationwide crucial.
If Nigerian enterprises are to endure, they need to start to write down the following chapter whereas the present authors are nonetheless alive. Allow us to not wait till the books are ashes. Allow us to cross them on—earlier than the library burns.
Dr. Olufemi Ogunlowo is the CEO of Strategic Outsourcing Restricted and writes on HR management and office transformation for BusinessDay.
