Succession planning is often dismissed as a mere formality in the business world. Yet, for family-owned enterprises, the transition of power from one generation to the next is a complex and critical juncture. In Nigeria, where family businesses are deeply ingrained in the cultural fabric, the stakes are even higher. These enterprises, from the sprawling conglomerates to the corner stores, are the backbone of our economy. However, their survival hinges on a delicate balance of tradition and innovation, a challenge that many Nigerian family businesses are struggling to navigate.