At the Coleman Wires and Cables 50th anniversary dinner in Lagos, President Olusegun Obasanjo urged businesses to adopt strong succession planning to ensure their legacies endure across generations. He praised Coleman Wires for sustaining family leadership, allowing the company to thrive for five decades.
Obasanjo described the company’s journey as a model of sustainability, urging other Nigerian entrepreneurs to emulate this approach to build resilient, long-lasting enterprises. He highlighted the wisdom of planning for continuity, saying true success is ensuring a business flourishes even when the founder is no longer in charge.
Coleman’s founder, Dr. Solomon Onafowokan, attributed their success to divine grace and strategic succession, expressing pride in his sons who are ready to lead the company forward. Under their leadership, Coleman recently inaugurated Africa’s largest fibre optic cable factory and Nigeria’s first fibre-reinforced plastic plant, positioning it on track to becoming a N15 trillion enterprise, with half of its revenue from exports.
The celebration also honored staff excellence and featured the presentation of a Rolls-Royce to Dr. Onafowokan by Obasanjo.
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