Before the library burns: Preserving leadership wisdom through succession planning

“When the old man dies, a library burns to the ground.” — Malian Proverb

In many African societies, the elder is seen not just as a person but as a vessel of collective memory, wisdom, and lived experience. When that knowledge is not transferred, it is lost. This proverb has special resonance in Nigeria, where the sudden or poorly managed departure of a founder or business leader often signals the decline of the enterprise itself. The failure to institutionalise succession planning has become one of the most persistent weaknesses in our corporate and entrepreneurial landscape.

From the 1960s to the 1980s, Nigeria experienced a wave of indigenous enterprise creation—many of them visionary in scope and rooted in national development aspirations. Yet, decades later, the ruins of those businesses are a stark reminder that building a company is only half the job. Sustaining it is the real test. Across all six geopolitical zones, examples abound.

In the South-South region, African Timber and Plywood (AT&P) in Sapele, Delta State, was once a formidable industrial force and major employer. It faltered as its European founders exited, and subsequent Nigerian-led management could not sustain it. A lack of leadership continuity and strategic planning contributed to its eventual collapse.

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In the Northwest, Kaduna Textiles Limited (KTL), one of the oldest textile mills in Nigeria, enjoyed state support and regional pride in the early years. It was a beacon of northern industrialisation. But poor governance, ageing infrastructure, and the absence of a long-term leadership plan led to its shutdown in the early 2000s, despite numerous revival efforts.

The story of Azigbo Brothers Limited in the South-East follows a similar trajectory. Founded by the late Chief Joseph Azigbo in the 1960s, it thrived during the post-colonial industrial boom. But after his passing, the enterprise disintegrated. His successor lacked mentorship, and with no structured knowledge transfer, the business could not survive market and operational pressures.

In the Southwest, the legacy of Odutola Tyres reminds us that even visionary institutions are not immune to decline. Established by Chief Adeola Odutola, a respected industrialist and nationalist, the company was once a symbol of Nigerian self-sufficiency. But following his death in the 1990s, a leadership vacuum and strategic drift ensured it would not survive the liberalisation wave that followed.

From the Northeast, Borno Oil Mills offers yet another case. Positioned in Maiduguri to tap into the region’s agricultural potential, it struggled to recover after the founder’s departure. Leadership disputes, financial mismanagement, and the absence of a coordinated succession plan stalled all attempts at revival.

In North-Central Nigeria, Jos International Breweries once competed with the biggest beer brands in the country. As newer entrants arrived and corporate governance expectations evolved, the brewery failed to keep pace. A lack of professionalised management and poor leadership continuity eroded investor confidence and market share.

“Without these reforms, the pattern will repeat itself. Founders will pass on. And with them, the institutional memory, market insights, and business relationships they nurtured over decades will vanish. The business dies, and with it, the hopes of the next generation.”

These examples, while tragic, are not surprising. Numerous studies confirm the scale of the problem. A 2015 survey conducted by Nigerian business researchers found that more than 90 percent of family business owners had no formal succession plan in place. An international review published in 2021 noted that fewer than five percent of Nigerian family-owned enterprises make it into the third generation. This is alarming, considering that micro, small, and medium-sized enterprises—many of them family-run—contribute 48 percent of Nigeria’s GDP and employ over 80 percent of its workforce, according to the National Bureau of Statistics and the 2021 SMEDAN/MSME survey.

In contrast, global companies that have survived centuries have done so because they treat succession planning as a core element of their strategy. Procter & Gamble, for instance, promotes nearly all its senior leaders from within. Executives often spend decades rising through the ranks, supported by mentorship, performance tracking, and deliberate job rotation. The result is a stable leadership bench that upholds institutional knowledge and company culture. In Sweden, the Wallenberg family business empire has successfully transitioned across six generations. Worth over $700 billion in value, it is managed through strong governance, early grooming of successors, and the separation of ownership from executive leadership.

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The Nigerian business community has much to learn from these models. We must first accept that succession planning is not a sign of retirement or weakness. It is a sign of responsibility. Planning should begin early in the life of a business—not when the founder is ill or ready to exit. Future leaders must be identified, mentored, and tested across roles. Knowledge must be shared, not hoarded. Governance must be structured to reduce conflict and encourage continuity. And perhaps most importantly, family-owned businesses must be willing to let go of power when the time comes and empower those with the capacity to lead.

Without these reforms, the pattern will repeat itself. Founders will pass on. And with them, the institutional memory, market insights, and business relationships they nurtured over decades will vanish. The business dies, and with it, the hopes of the next generation.

The fire that burns in that library is not a poetic metaphor. It is an economic reality: burning jobs, wiping out capital, and reducing decades of effort to footnotes in history. As a country, we cannot afford to keep losing our entrepreneurial institutions at this rate. Succession is not just an HR concern; it is a national imperative.

If Nigerian enterprises are to endure, they must begin to write the next chapter while the current authors are still alive. Let us not wait until the books are ashes. Let us pass them on—before the library burns.

Dr. Olufemi Ogunlowo is the CEO of Strategic Outsourcing Limited and writes on HR leadership and workplace transformation for BusinessDay.