Navigating Leadership Transitions: Successes and Failures of Intragenerational Succession in Lagos-Based SMEs

This study investigates the successes and failures of intragenerational business succession among small and medium-sized enterprises (SMEs) in Lagos State, Nigeria. Using an exploratory qualitative design, the study draws insights from 40 participants and 4 case studies representing four key sectors, which were: food and beverages, fabrics and textiles, herbal medicine, and wood, furniture, and charcoal. Data were collected through in-depth interviews and analyzed thematically using NVivo 14 software to uncover the underlying dynamics of leadership transitions within family and individually owned enterprises. Findings reveal two dominant types of succession: wilful succession, characterized by voluntary and interest-driven leadership transfer, and unwilful succession, marked by coercion and lack of motivation. The study demonstrates that wilful succession fosters business continuity, innovation, and long-term growth, while unwilful succession often leads to stagnation and failure. Applying both stewardship and game theory, the research establishes that cooperative succession processes that is anchored in trust, mentorship, and shared vision could enhance the likelihood of successful transitions, whereas non-cooperative dynamics increase the risk of conflict and decline. The study concludes that the sustainability of SMEs in Lagos is largely contingent upon the presence of successors who embody stewardship values and adopt cooperative strategies that align individual and organizational goals. It recommends deliberate succession planning, mentorship programs, and the institutionalization of family governance structures to ensure continuity across generations