Transtura's Journey: Learning and Growing from Failure
Vincent Adeoba shares the rise and fall of Transtura, a ride-hailing startup in Lagos, and the hard lessons learned navigating Nigeria’s transport system.
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Company
Transtura
Outcome
Vincent Adeoba
Vincent Adeoba is a Nigerian entrepreneur and former founder of Transtura, now working at PwC New York after navigating the challenges of building in Nigeria’s transport sector.
Why This Failure Matters
Building in emerging markets isn’t just about innovation—it’s about survival. This story reveals the hidden challenges founders face and why resilience matters more than ideas.
Story Overview
Vincent Adeoba left PwC Nigeria to build Transtura, a ride-hailing startup aimed at fixing transportation in Lagos. But regulatory challenges and union pressures made scaling difficult, eventually leading to the company’s collapse.
Rather than ending his journey, the experience became a turning point—leading him to new opportunities at PwC New York.
This is a story of ambition, failure, and the resilience to start again.
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The Full Story
Transtura faced unexpected challenges with rules from NURTW, LASTMA, and the Lagos State Ministry. Dealing with them was tougher than expected. The real shocker? NURTW took a big chunk of the money ( over 20% of our daily revenue ), causing constant problems like bus impoundments and attacks on drivers.
Vincent rightly points out that for Nigeria to prosper, leaders need to support young people trying to make a difference.
Transtura faced tough times, but the story isn't about blame. It's about embracing failure and learning from it. Vincent admits, "Those who said we'd fail were right, but I'm glad we gave it a shot."
After Transtura, Vincent bounced back. He applied for roles in the U.S. and landed a spot at PwC New York.
In this new year, remember Transtura's journey. Learn from failures, turn them into stepping stones, and keep growing. Failure isn't the end; it's just one chapter in every founder's story.
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