At the 2025 Annual Law Conference of the Nigerian Bar Association (NBA) Lagos Branch, former Chairman of the Branch, Lateef Omoyemi Akangbe, SAN, FCIArb (UK), delivered a thought-provoking address on what constitutes lasting success in legal practice.
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Speaking during a session dedicated to law firm management and sustainability, Akangbe noted that:
“Profitability is not the only measure of success. Longevity is one of them—and that ties into succession.”
Drawing from his own career trajectory, Akangbe recounted how he joined his firm as an associate in 2005 and rose through the ranks to become its Managing Partner. He emphasized that such progression is not only a mark of personal achievement but also a testament to the firm’s commitment to leadership development and structured succession.
“They say there can’t be success without succession,” he said. “We all remember many thriving law firms from the 1980s that no longer exist today. By the late ’90s, the partnership model began to gain traction in Nigeria, mirroring trends across Africa. Many of those partnerships are now being tested, as their founding partners approach retirement.”
[Must Watch] “Profitability Is Not The Only Measure Of Success” — Akangbe SAN Says Longevity & Succession Define True Legal Practice Achievement pic.twitter.com/scLUPQJeBU
— The Nigeria Lawyer (@Nigerialawyers) June 19, 2025
Akangbe revealed that his own firm had four founding partners—two of whom have already stepped aside—demonstrating a clear succession plan in action.
“That is success. That is succession,” he stated.
His remarks served as a powerful reminder that law firms must look beyond short-term financial gains and focus on institutional longevity, generational leadership, and deliberate succession planning if they are to endure.
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