From Sh45,000 Loan to Multi-Billion Empire: How Eng. Peter Njagi Built Riva Petroleum Dealers

The Early Life and Education of Peter Njeru Njagi

Engineer Peter Njeru Njagi, the visionary behind Riva Petroleum Dealers, is a classic example of determination, courage, and entrepreneurial spirit. He graduated from the University of Nairobi in 1984 with a Bachelor of Science in Engineering and later earned an MBA specializing in Finance from Egerton University. His academic foundation combined technical expertise with financial acumen, preparing him for a unique journey in business.

He began his career at the Ministry of Roads and Public Works, serving as a Roads and Highway Engineer for 20 years. Njagi was posted in various parts of the country, including Nyeri, overseeing infrastructure projects and gaining invaluable management experience along the way.

From Hardware Tools to Petroleum: Njagi’s Entrepreneurial Leap

In 1996, Njagi made a bold decision—he quit his government job to venture into entrepreneurship. His first step was modest: borrowing Ksh45,000 from Ufundi Cooperative Sacco to start selling hardware tools to construction sites. Within three years, his determination paid off, and he had accumulated Ksh8 million.

With a growing capital, Njagi turned his sights to the petroleum industry, despite having little knowledge of it. Initial attempts to secure a bank loan were unsuccessful, as he lacked both collateral and prior industry experience. However, a supportive KCB Bank manager in Nakuru believed in his vision and facilitated a loan, paving the way for the birth of Riva Petroleum Dealers.

Building Riva Petroleum Dealers

Starting from scratch, Njagi navigated unfamiliar territory—learning about tankers, lubricants, and customer acquisition. Remarkably, Riva grew quickly: in its first year, turnover reached Ksh60 million, and by the second year, it had surged to Ksh800 million. Today, the company operates in Kenya and Uganda, managing over 25 retail petrol stations under the RIVA brand.

Riva Petroleum Dealers is a fully integrated oil marketing company, engaging in the import, distribution, and transportation of crude oil, LPG, bitumen, fuel oil, diesel, unleaded fuels, jet fuel, and kerosene.

Family-Owned and Managed

Riva Petroleum Dealers remains a family-owned business. Eng. Njagi and his wife, Dorcas Waguthi, each hold 80,000 shares, while their daughters, Wangui and Wawira, collectively own 40,000 shares.

Dorcas, originally a paediatrician, transitioned into accounting and now heads Riva’s Finance Department, while their lawyer daughter oversees the legal department. This family-driven leadership has been key to the company’s sustained growth and stability.

Beyond Petroleum: Njagi’s Other Ventures

Eng. Njagi is also an active investor in real estate, serving as director of Fusion Capital Limited, FREDS Limited, Hand in Hand East Africa Limited, Key 3 Properties Limited, Briken (EA), and South Lake Developments Limited. His diversified portfolio demonstrates a keen eye for business opportunities beyond the oil sector.

Lessons from Njagi’s Journey

The story of Eng. Peter Njagi underscores vision, resilience, and the power of calculated risk-taking. From a small hardware business funded by a modest Ksh45,000 loan to a multi-billion shilling oil marketing empire, Njagi’s journey inspires aspiring entrepreneurs to believe in their ideas, seek support, and continuously learn.