Hey founders! Today, let’s chat about Transtura, a ride-hailing startup that had its ups, downs, and lots of lessons for all of us.
Vincent Adeoba, who went from PwC Nigeria to leading Transtura, dreamed of fixing transportation in Lagos. Exciting, right? But, reality hit hard.
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.
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Vincent rightly points out that for Nigeria to prosper, leaders need to support young people trying to make a difference.
Nigerian leaders need to understand that Nigeria cannot become a prosperous country by making it impossible for young people who want to contribute to succeed.
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.”
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.
