Why indigenous big brands don’t outlive owners

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Many Nigerian businesses lack transition plans – Experts
Our fathers’ shoes are too big for us – Children of tycoons

Uba Group

Aside from the glaring uncertainties surrounding both global and local markets, several conglomerates in Nigeria are not structurally positioned to out-live their owners,
investigations have revealed. Already, over 70 per cent of companies that used to be household names have gone moribund, according to findings.

From the manufacturing sector to the aviation and hospitality industries, a large number of businesses established by prominent individuals had collapsed shortly after the demise of their owners.

Considering the performance of the economy in the 1970s, 80s and 90s, when many of these companies were established, and the positive forecast of international economic experts for preceding years, many of the companies were expected to pose a challenge to several international brands that also started as family businesses

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