Knowledge Economy : RIMCO Nnewi, a stellar example



Nigeria economy is in doldrums , That’s not a new thing. It is a cliche but that doesn’t mean that factors of production and means of production are in tatters. The seems to be an evolution in the economy.


The Nigerian economy as of today is tilting away from earth crust or fossil fuel based exonomy to knowledge economy. For any organisation to survive this stage if evolution must evolve. There must be systematic change from.the way we used to do things as organisation to the way knowledge based exonomy should be. RIMCO Nnewi, a private organisation comes to mind. They have epitomised this concept and iber a short period of time ,the result is evident.RIMCO Research & Development.

Accirding to online source ,Investopedia The knowledge economy is a system of consumption and production that is based on intellectual capital. The knowledge economy commonly makes up a large share of all economic activity in developed countries. … Examples of knowledge economy activities include research, technical support and others.
Part of Chicason group , RIMCO believes strongly in research and development as this constitute the main pivot for sustaining the high level market acceptance her products have enjoyed over the years. Between 1999 and 2008, RIMCO committed about N100 million to research and development. The benefits of this huge investment include: Production of Rubber Seed Oil which can be substituted for the expensive Soya-bean oil in the making of ALKYD RESIN for the paint industry, use of Rubber seed cake to replace part of the palm oil and palm kernel oil for soap production and use of Bleaching earth from local clay to replace the imported and expensive fulmont bleaching earth. At present, RIMCO is working on the use of desolventised oil cake(DOC) for the production of fertilizer.

Chicason Group is a private, multinational conglomerate made up of more than 13 companies and affiliated businesses. Founded in 1981, Chicason has over the past 34 years built its reputation on the foundation of integrity, commitment and team work. Chicason Group started as a small trading company in Nigeria and has throughout the years grown into a strong regional player and has continued to demonstrate exceptional performance through excellent products and service delivery to our clientele, forming strategic trade relationships with numerous highly reputable companies across the globe.

Currently, Chicason Group is an emerging conglomerate with diverse interests in the following: Oil and Gas Trading, Manufacturing, Mining, Oil and Gas Exploration, Real Estate, Project Management and Construction in Nigeria. In addition to dynamic business presence in West and East Africa namely : Ghana, Kenya, Sierra Leone, Liberia, Burundi as well as Switzerland.

Today, the Group engages in a broad range of business activities not only to leverage on the unprecedented opportunities in West and East Africa but to pursue our strong belief that we have a strong responsibility to present and future customers to provide the best in class services especially in the energy, extractive industry, utilities, infrastructure, real estate and manufacturing sectors for regional business transformation.
James Eze and Anthony Emeka Nwosu

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