Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, lauded Tamrose Ventures Limited for fully repaying a $10 million loan from the Nigerian Content Intervention (NCI) Fund, which enabled the indigenous marine logistics firm to expand its fleet from four to 15 vessels and extend operations to Angola.
Speaking at the Nigerian Content Tower in Swali, Yenagoa, Lokpobiri described the NCDMB’s $350 million NCI Fund as instrumental in Tamrose’s success.
The company accessed the facility in 2019 through the Bank of Industry (BOI) and completed repayment in September 2025.
“It is a thing of joy to celebrate the success of the partnership between NCDMB and Tamrose,” Lokpobiri said, noting the firm’s growth “beyond the shores of Nigeria to render logistics services in the oil and gas industry across the continent of Africa.”
He emphasized that the NCI Fund aims to build local capacity for global oil and gas services, commending Tamrose as an industry exemplar.
The minister urged other beneficiaries to repay their loans or face legal action and pledged to expand the fund to support more indigenous firms.
NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, represented by General Manager for Human Capacity Development, Mr. Esueme Dan Kikile, hailed the event as proof of “what Nigeria can become when we place our confidence in indigenous talent.”
He reaffirmed the board’s commitment under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, to prioritize Nigerian participation in the energy sector.
Ogbe announced plans to launch the Nigerian Content Equity Fund (NCEF) at the 2025 Practical Nigerian Content Forum in December, offering long-term risk capital for high-impact sectors.
He outlined NCDMB’s focus on gas value chains, renewables, the blue economy, and Nigerian-led innovation.
Tamrose Executive Chairman, Mr. Ambrose Ovbiebo, credited the NCI loan as a “foundational catalyst” for the company’s evolution. From four security vessels in 2019, Tamrose now operates 15 units—10 security patrol vessels and five platform supply vessels—all purpose-built for efficient offshore services.
Ovbiebo highlighted broader impacts: geographic expansion to Angola under the Nigerian flag; workforce growth from 50 to 244 employees; training of over 100 cadets through the Tamrose Cadetship Scheme for global roles; and healthcare coverage for more than 1,500 enrollees.
He expressed gratitude to clients including ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron Nigeria Limited, First E&P, Nigeria Liquefied Natural Gas (NLNG) Limited, and Oriental Energy Resources.
Ovbiebo also thanked financial partners—Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and BOI—as well as Lokpobiri for supporting indigenous capacity and Ogbe for his leadership.
BOI Divisional Head for Extractive and Natural Resources, Mr. Taiye Emagha, lauded Tamrose as a “model customer” for its “exceptional repayment discipline,” completing the loan without reminders.
Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), represented by Mr. Jibril Abba, commended Tamrose for operational excellence and maintaining a fully Nigerian-flagged fleet.
He thanked NCDMB for facilitating the company’s achievements.
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