Company History
Rivers Vegetable Oil Company Limited – RIVOC – was established in 1973, by the government of Rivers State of Nigeria, as a wholly state owned industrial enterprise. The Company was privatized in 1977. As of 2012, RIVOC operated seven active major process plants and was the third largest Fast Moving Consumer Goods Manufacturing Company in Nigeria. It was also the single largest producer of crude palm kernel oil and palm kernel extractions in the Country.
RIVOC closed down its operations in 2013 due to divestment of interest by the then investors, but in 2018 it was acquired by the Strides Group and renamed NEW RIVOC LTD. NEW RIVOC LTD commenced activities in February 2018 with the rehabilitation and overhaul of the 7 process plants. Refurbishment of the oil section (extraction, refinery and fractionation plants) has been completed and sales of oil products have commenced. The detergent and baker’s fat section are 95% ready for commissioning while work on the other 5 plants are ongoing.
Operation And Products
Solvent Extraction Plant: The solvent extraction plant supplied and installed by Desmet of Belgium in 1978 is capable of processing any oil bearing seed. During the 2018 reactivation exercise, the plant was completely refurbised and modernized to meet the quality demand of an emerging market.
Vegetable Oil Refinery: The Vegetable Oil refinery plant has the capacity for processing 100 Metric Tons of Vegetable Oil per day or 36,000MT/annum.
Fractionation Plant: The fractionation plant fractionates the refined Palm Oil produced by the refinery into products Olien and Sterin. The processing capacity of this plant is 18, OOOMT/annum.
Bakers Fat & Margarine Plant: The Bakers Fat and Margarine plant processes the Palm Sterin, a bye product of the fractionation plant into edible Bakers Fat and Bread Spread Margarine. The plant is capable of producing 14, OOOMT/annum.
Toilet Soap Plant: The plant was installed and commissioned in the year 2002 and expanded further in 2004. As at 2012 February it was capable of producing 18, OOOMT/annum of Toilet Soap
Detergent Washing Powder Plant: The detergent plant was commissioned in the year 2002 and expanded further in 2005. Plant capacity is rated at 12, OOOMT/annum.
Washing Soap: This plant uses Crude Palm Oil procured locally as raw materials, for the production of washing soap. The washing soap plant has two production lines with a production capacity of 36,000 Metric Tons per year.
Vision & Mission
VISION: To establish NEW RIVOC products as the preferred choice of consumer goods in every household in Africa by 2025
MISSION:
Improving the quality of human life through the production of consumer products that showcase a fanatical commitment to health and affordability while propagating in the consumer the thrill of being part of something special.
Our Core Values
We will be guided by our belief, culture and commitment to:
- Quality: Produce only the healthiest quality of products.
- People: Recruit, train and retain the best people who are committed to a culture of teamwork, ethics and social responsibility.
- Sustainability: Manufacture for the long haul.
- Diversity: We are committed to working with people of diverse cultures and arriving at a common sense of purpose, equality and direction.
Business Goals & Objectives
- Improve customer satisfaction through delivery of thrilling and healthy products.
- Increase brand awareness and be among the top 3 in each category of our products in Nigeria within the first 3 years through market penetration activities, fast time to market, value addition and customer bonus programmes.
- Improve employee satisfaction through a robustly innovative humane HR platform.
- Improve profitability of the company through reduction of operational cost without impinging on the quality of products thus creating more value for our customers.
Growth Strategy
The company wish to grow both organically and inorganically.
Products
- RBD Palm Kernel Oil
- RBD Palm Oil
- RBD and Fractionated palm olein
- Sterin
- Golden palm pure cooking oil
- Rivoc vegetable oil
- Gold spread Margarine
- Bakeman’s baker’s fat
- Jumbo Detergent powder
- Jumbo washing soap
- Majik washing soap
- Majik liquid hand wash
- Aura toilet soap
- RBD- (Refined, Bleached and Deodorized)
Business Competitiveness
New RIVOC Ltd prides herself on 5 key competitive advantages.
- Organizational culture: Our values and habits sets us apart as we proactively and aggressively innovate to create value for stake holders.
- Customer satisfaction: Our no 1 priority is our customers and we work to create products process that will satisfy them and improve their businesses with us.
- Technology: We create quality products using the best technology and people who have the knowhow to do so.
- Sustainability: New RIVOC Ltd as a matter of business strategy and policy, gives priority to local sourcing of raw materials, financial prudence and a green environment. We thrive on creating a formidable foundation that will withstand the test of time. Our foundation is anchored on production of wholesomely healthy products, social responsibility and integrity.
- Capital: New RIVOC Ltd stands on a solid financial footing. It has the backing of the Strides group (Oil and Maritime industry player) and is credit worthy with the commercial banks, Bank of Industry (BOI) and Development Bank of Nigeria (DBN).
Quality Policies
At New RIVOC Ltd, our watchword is anchored on Quality. This has been our conscious corporate response from inception, to deliver the healthiest quality of products to consumers at a price which endears a positive relationship and ultimately leads to a well-informed preference for our products.