Strategic Leadership Succession and Business Continuity in Nigerian Family Conglomerates

This study investigates the relationship between strategic leadership succession processes and business continuity in Nigerian family-owned conglomerates. Nigeria's largest family business groups face increasing strategic risks from inadequate succession planning, particularly as founding generation leaders approach retirement age. The research employs a qualitative case study design, focusing on four established Nigerian family conglomerates in the South West and South East zones with annual revenues exceeding ten billion naira. In-depth interviews were conducted with board members, succession planning consultants, and second-generation management heirs. Data were analyzed using thematic coding and cross-case comparison. Findings indicate that conglomerates with institutionalized succession planning frameworks, including leadership competency profiles, multi-year development programs for successors, and formal board oversight of the transition process, demonstrate significantly smoother leadership transitions and stronger post-succession revenue continuity. The study reveals that emotional resistance from founding owners to releasing operational control is the most persistent barrier to effective succession planning. External board members with strategic management expertise are identified as critical facilitators of objective succession processes. The research concludes that Nigerian family conglomerates must professionalize succession planning as a board-level strategic priority to safeguard long-term business continuity. Keywords: leadership succession, business continuity, family conglomerates, Nigeria, board governance.