Nigeria has experienced a significant uptick in inflation which surged to a three-decade high of 33.95%, according to the latest data from the Nigerian Bureau of Statistics (NBS). Food inflation rose to 40.66%, while core inflation reached 27.04%. Inflation in May 2024 was largely driven by the increase in food and beverages coupled with energy and housing costs.
The persistent upward trend in inflation underscores the intricate interplay of various economic factors including fiscal policies, monetary policies, exchange rates, and international trade dynamics.
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Family businesses are the backbone of economies worldwide, representing a significant share of global GDP and employment. Their unique structure, combining familial relationships with entrepreneurial ambition, offers both distinct advantages and complex challenges. As family business leaders confront evolving market conditions, identifying and leveraging growth drivers becomes essential for long-term success and sustainability.
The influence of family-owned enterprises is becoming ever greater in the 21st century. Their unique role in the economic and social fabric of countries is widely recognized for the stability and sustainability they offer. However, in an era defined by rapid technological advancements, global market shifts, and mounting environmental and social responsibilities, the very definition of growth is changing. Today, growth is no longer just about financial expansion. It’s about building adaptability, strengthening purpose and contributing to a more sustainable future.
This report is designed specifically for family business leaders who are seeking to evolve and grow in today’s dynamic environment. Through this series of articles, we explore the key factors that enable family businesses to thrive across generations - from governance frameworks and leadership development to innovation strategies and accessing growth capital.
Each article offers practical, evidence-based insights tailored to the distinctive realities of family enterprises. Going beyond theory, this series provides actionable ideas that reflect the lived experience of family business leaders. Whether you’re facing succession pressures, entering new markets or redefining what success looks like, family business leaders will find useful guidance that speaks directly to your priorities.
We examine how to preserve legacy, while remaining competitive.
We also offer insights into how to embed values into governance, navigate growth without compromising identity, and how to create not only financial value, but long-term, values-driven impact.
Through this report, we aim to help you grow better, not just bigger.
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