Contrary to what is known about indigenous businesses in Nigeria, nay Africa, dying with the founders, some family businesses in Nigeria have survived over the years in Nigeria and are still thriving.

This is as most Nigerian businesses and notable conglomerates in the 70s and 80s like the late Chief MKO Abiola’s Concord Group, comprising Concord Press, Concord Airlines, Abiola Farms, and Wonder Loaf Bakery, among others; went under shortly after their founders died.

Sunday Telegraph reports that two outstanding Nigeria businesses, the Dantata family business and the Isyaku Rabiu dynasties have been thriving and expanding for over a century.

Multi-Billionaire Aminu Dantata, who died recently at the age of 94, a second generation of the Alhassan Dantata family business, was reported to have joined his father’s business, Alhassan Dantata & Sons in 1948 as a produce buyer.

He later became the head of the Dantata businesses dynasty.

He was the younger brother of Sanusi Dantata, making him a granduncle to Africa’s richest man, Aliko Dangote. Sunday Telegraph reports that after his father died in 1955, the children took over the family enterprise, Alhassan Dantata & Sons, even as in 1958, Aminu became deputy managing director, and following the death of his elder brother, Ahmadu in 1960, he took over the helm of the business.

Under his guidance, the company diversified into banking, petroleum, agriculture, real estate, construction, manufacturing, and finance. He later founded Express Petroleum & Gas Company Ltd and was instrumental in establishing Jaiz Bank, the first non-interest bank in Nigeria.

Aminu once famously said he owned land “all over the world”, a lesson passed down from his father, who emphasised land as the foundation of generational wealth.

“I don’t think I would be able to tell you what land I have now, all over the world, not only in Nigeria. In Nigeria, there is nowhere I don’t have land. Also, in areas where people don’t have the opportunity, I have lands,” he said.

As regards the Isyaku Rabiu business dynasty, after his death, his children took over with his first son, Abdulsamad Rabiu founding the BUA Group.

Abdul Samad Rabiu’s BUA Group has grown to be one the biggest conglomerates in Nigeria today, diversified with interests in various sectors including Cement, food (sugar and oil), and infrastructure (ports, real estate).

It would be recalled that the founder of one of the one most successful interstate companies in Nigeria, God is Good Motors (GIGM), Edwin Ajaere was kidnapped in 2009 and killed by the kidnappers. On his death, his 21-year-old U.S based son returned back and took over running of the business and spearheaded its transformation into GIG Mobility (GIGM), easily regarded by transport experts as the most efficient inter-city transport services provider in Nigeria today.

Similarly, late Otunba Subomi Balogun, founder of First City Monument Bank (FCMB), before his death, carefully put down a succession plan that put his first son, Bolaji Balogun, at the head of the family business empire, with FCMB as the most priced business.

Bolaji is Co-Chair of the Private Sector Advisory Group (“PSAG Nigeria”). He is the Chairman of Endeavor Nigeria and a Director of Trustfund Pensions, one of Nigeria’s largest pension fund managers.

Sunday Telegraph, further reports that family businesses and brands in Nigeria whom their founders are still alive are also toeing the line of grooming their children to succeed them and maybe, retain the family name in the businesses even when they are no more.

Prominent among them is the is the Africa’s richest man, Alhaji Aliko Dangote, who recently handed over the chairmanship of the Dangote Cement Plc, a cornerstone of his conglomerate to his eldest daughter, Mariya Dangote, to focus on his $20 billion oil refinery and other energy ventures.

It was also disclosed that Halima Dangote, the second daughter, has been director at Dangote Cement since early 2022, following the passing of her uncle, Sani Dangote. She established the Dangote Family Office in Dubai in 2023 and serves as a trustee of the Aliko Dangote Foundation. She previously held executive roles at NASCON Allied Industries, where she remains a board member.

Fatima Dangote, the third daughter, is the Group Executive Director for commercial operations at Dangote Industries Limited, overseeing strategy, communications, procurement, and administration. She has been a board member of NASCON Allied Industries since 2023, with prior executive roles since 2016. She plays a key role in the Aliko Dangote Foundation and focuses on backward integration in the sugar sector.

Speaking about the roles of his daughters in the Dangote Group, Alhaji Aliko Dangote said: “Mariya, Halima, and Fatima are critical to the success of our business, holding major roles across my companies and contributing significantly to our achievements.”

What has happened at Dangote is also happening at the Globacom, Nigeria’s main indigenous GSM provider, and third largest network in Nigeria. The Chairman, Dr Mike Adenuga, in a strategic move to protect the family business even after he is no more, has elevated his first daughter, Bella Disu as the Executive Vice Chairman of Globacom.

She previously served as a Group Executive Director before assuming the number two position within the company.

Another daughter of Dr Adenuga, Shade Michael-Adenuga, is the Group Executive Director at Globacom.

Also, the Chairman of Coscharis Group, a diversified conglomerate with interest in automobile, agriculture, Pharmaceuticals etc, Dr Cosmas Maduka, told newsmen over three years ago that he has strategically started stepping back while he watched his children, who he had groomed to take over the business.

His first son, Cosmas Jr. Maduka, has been named as the Executive Director in charge of after Sales Services and Special duties at Coscharis Group.

A.G. Leventis (Nigeria) Limited (AGL), a large Nigeria-based conglomerate established in 1937, by Anastasios G. Leventis, a naturalised Nigerian from Greece, according to sources, had put in place a succession plan that has ensured that Nigerians continue to manage the business.

The Leventis Group in Nigeria operates several subsidiary and affiliated companies. These include Leventis Foods Ltd, Leventis Motors, Abuja (Capital Motors) Ltd, Mainland Hotel, Leventis Real Estate, Druckfarben Nigeria Ltd, and Chrisstahl Nigeria Ltd. These companies cover various sectors such as food and beverage, automotive, real estate, hospitality, and manufacturing.

Oluwaseun Abimisola Oni is a Nigerian business executive, currently serving as the Group Managing Director and Chief Executive Officer of A.G. Leventis (Nigeria) Limited.