Lagos Private Wealth Conference 2025: Navigating Global Markets, Family Legacy, and Emerging Opportunities

Lagos Private Wealth Conference 2025

The Lagos Private Wealth Conference 2025 brought together leading experts, entrepreneurs, and next-generation business leaders to address the evolving landscape of wealth management, succession planning, and investment strategies. Over two intensive days, participants explored critical themes ranging from tax optimization and estate planning to impact investing and the integration of artificial intelligence in wealth management.

Tax Planning in a Changing Global Landscape

A central theme throughout the conference was the dramatic shift in international tax transparency and compliance requirements. Morag Ofili, a UK tax specialist, highlighted the abolition of the non-domicile regime in the UK, which has significantly impacted Nigerian families who previously benefited from offshore income exemptions. "The non-dom rules no longer apply, and you may be taxable in the UK on your worldwide income," she warned, emphasizing the need for proactive tax planning.

The panel stressed that transparency has become "the cost of entry" for international wealth management. With automatic exchange of information between jurisdictions and enhanced due diligence requirements, the days of opaque offshore structures are ending. As one expert noted, "Banking secrecy doesn't really exist anymore because most jurisdictions now share information under CRS."

Nigerian tax reforms were also a major focus, with proposed changes to capital gains tax from 10% to potentially 27.5%, and new rules around indirect sales of Nigerian assets. Despite these challenges, panelists emphasized that Nigeria still offers advantages, including no inheritance tax and various free zone benefits.

Family Offices: Structuring for Generational Wealth

The conference dedicated significant attention to family offices as vehicles for wealth preservation and governance. Bimpe Nkontchou from W8 Advisory explained that family offices provide crucial governance structures, noting that "very few families have gone past generation three" in Africa, compared to established families elsewhere who have maintained wealth across multiple generations.

Key insights from the family office discussion included:

• The importance of starting with clear family values and constitutions

• The need for professional governance structures separate from family dynamics

• The value of economies of scale through multi-family office arrangements

• The critical role of external advisors in mediating family disputes

  
  

As one panelist emphasized, "You can't grow what you don't measure," highlighting the importance of clear metrics and accountability in family wealth management.

Real Estate: Balancing Local and Global Opportunities

Real estate emerged as a favored asset class among conference attendees, with 44% indicating it as their preferred investment choice. The panel explored opportunities across Nigeria, the UAE, and the UK, each offering distinct advantages and challenges.

Yomi Ademola from Alaro City made a compelling case for Nigerian free zone investments, highlighting dollar-denominated returns and tax advantages. "Our yield, our net yield is higher than Dubai," he claimed, while emphasizing the benefits of investing in hard currency-generating assets within Nigeria's growth market.

However, panelists acknowledged the currency risk inherent in Nigerian investments. As one expert noted, assets that previously commanded $80,000 in rental income now generate only $20,000 due to naira devaluation, demonstrating the importance of diversification and currency hedging strategies.

Impact Investing: Beyond Financial Returns

The conference featured extensive discussion on impact investing, with particular focus on gender lens investing Adesuwa Okunbo Rhodes from Aruwa Capital shared impressive statistics: "Women are typically reinvesting 90% of their income into healthcare and education for their children," explaining why gender-focused investing can multiply impact while generating strong returns.

The consensus was that impact investing has evolved beyond philanthropy to become a legitimate asset class that can deliver both financial and social returns. As one panelist noted, "You can't think of impact investing without thinking about sustainability from an investment perspective."

Art as an Emerging Asset Class

An unexpected highlight was the panel on African art as an investment vehicle. Jesse Castellote from the Yemisi Shyllon Museum revealed that while the global art market is worth $65 billion, African art represents only $61 million – suggesting significant growth potential.

The discussion emphasized the importance of provenance and proper documentation, with one panelist noting that El Anatsui's works now command minimum prices of $500,000. However, experts cautioned against purely speculative approaches, emphasizing the cultural and emotional value of art alongside potential financial returns.

Technology and AI: Transforming Wealth Management

The integration of artificial intelligence in investment management was another key theme. Panelists discussed AI's role in streamlining client onboarding, improving research capabilities, and enhancing operational efficiency. However, they emphasized that AI serves as a tool rather than a replacement for human judgment.

"AI gives you market access and helps summarize research, but AI is not going to make the decision," explained one expert. The consensus was that while AI can democratize access to sophisticated analysis, human expertise remains crucial for high-value clients and complex investment decisions.

Next Generation: Preparing for Succession

Perhaps the most emotionally resonant session focused on next-generation leadership in family businesses. Representatives from multi-generational Nigerian companies shared insights on preparing successors, with emphasis on early exposure, competency-based advancement, and maintaining family relationships while ensuring professional standards.

Key principles included:

• Starting involvement early but allowing children to explore their own paths

• Requiring external experience before joining family businesses

• Maintaining merit-based advancement regardless of family ties

• Separating family dynamics from business operations

  
  

As one participant emphasized, "It's never too early to get children involved," while another noted, "You need to be competent to even come in – we would not take on anyone just because you're grandpa's grandchild."

Looking Forward

The Lagos Private Wealth Conference 2025 demonstrated the sophistication and growth of Africa's wealth management ecosystem. From navigating complex international tax regimes to building sustainable family legacies, the discussions revealed both the challenges and opportunities facing high-net-worth individuals in Africa.

The overarching message was clear: success in today's global wealth management environment requires professional advice, diversified strategies, and long-term thinking. As the continent's economies continue to grow and mature, the foundations laid today will determine whether wealth can truly be preserved and transferred across generations.

The conference concluded with a recognition that while the challenges are significant – from currency volatility to regulatory complexity – the opportunities for creating lasting wealth and positive impact remain substantial for those who approach these challenges with the right knowledge, structures, and advisors.