Vincent Adeoba, the Co-founder and CEO of Transtura, has recently shared his remarkable journey of resilience and reinvention as he transitioned from a brief stint as a full-time entrepreneur back to a career in the United States. In the span of just one year, Adeoba navigated a tripartite career transition, moving from a senior associate at PwC Nigeria to CEO and co-founder at Transtura, and eventually becoming an experienced associate at PwC New York.
Transtura, founded with a strong conviction to address a significant gap in the informal transportation value chain in Lagos State, faced unforeseen challenges that ultimately led to its discontinuation. Adeoba recounts that despite conducting a comprehensive SWOT analysis before the launch, the severity of the threats posed by various regulatory bodies, including NURTW, LASTMA, the Taskforce, and the Lagos State Ministry of Transportation, were underestimated.
The challenges became insurmountable, with over 20% of daily revenue going to NURTW, constant interruptions, impounding of buses with passengers inside, and assaults on drivers. Adeoba highlights the power dynamics at play, noting the NURTW’s perceived influence and their problematic relationship with the Lagos Government.
Adeoba emphasizes the need for Nigerian leaders to create an environment conducive to the success of young entrepreneurs, asserting that stifling their efforts hampers the country’s prosperity. Despite facing criticism and predictions of failure, Adeoba encourages fellow entrepreneurs and young individuals to view failure as a stepping stone for future success.
Turning the page on Transtura, Adeoba took the bold step of restarting his career in the U.S. He successfully secured a position at PwC New York, underscoring the importance of resilience in the face of failure.
As the new year begins, Adeoba extends a motivational message, urging individuals not to fear starting anew. He challenges them to overcome past failures, using them as a launchpad for future success, and encourages everyone to dream again without allowing setbacks to hinder progress.
Vincent Adeoba’s inspiring journey serves as a testament to the transformative power of resilience and determination in the face of entrepreneurial challenges.
