Meristem unveils Nigeria family wealth report to guide generational succession

The report, unveiled in Lagos, seeks to elevate the discussion around affluent legacies from a private family matter to a macroeconomic concern. Kemi Ojenike, Managing Director of Meristem Family Office, highlighted that the report offers insights into structural and non-financial frameworks crucial for preventing corporate stagnation across generations. She emphasized that the loss of family wealth across generational transitions poses a significant threat to national productivity and enterprise sustainability, leading to economic value loss and the stagnation or closure of businesses.

A key finding indicates that a substantial portion of private fortunes in Nigeria is tied to active business operations, making them vulnerable. The survey revealed that 80 percent of families ranked their operating businesses among their top two asset holdings. Furthermore, founder dependency remains a threat to long-term scalability, with 43 percent of respondents stating that major business and wealth decisions rely almost entirely on the founder or a small group of family members.

Ojenike stressed the importance of initiating succession planning before it becomes urgent, noting that conversations often begin only when founders are in their later years. The firm i