By Amgbare Ekaunkumo, Yenagoa
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Tamrose Ventures Limited for fully repaying a $10 million loan obtained from the Nigerian Content Intervention (NCI) Fund, a facility that enabled the indigenous marine logistics company to expand its fleet to 15 vessels and extend operations to Angola. Lokpobiri gave the commendation on Tuesday at the Nigerian Content Tower in Swali, Yenagoa.
He noted that the NCI Fund, managed by the Nigerian Content Development and Monitoring Board (NCDMB), had proven instrumental in strengthening local capacity within the nation’s oil and gas industry. Tamrose accessed the loan 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. He added that the company’s expansion “beyond the shores of Nigeria” demonstrated the viability of Nigerian service providers in the global energy supply chain.
The minister reiterated that the NCI Fund was designed to boost indigenous participation and warned that beneficiaries who fail to meet repayment obligations would face legal consequences. He also pledged to strengthen and expand the fund to support more Nigerian-owned firms.
NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe—represented by the General Manager for Human Capacity Development, Mr. Esueme Dan Kikile—described Tamrose’s achievement as evidence of what can be accomplished when Nigerian enterprises are supported with the right financial instruments. He reaffirmed the board’s commitment to implementing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.
Ogbe also announced that the Nigerian Content Equity Fund (NCEF) will be launched at the 2025 Practical Nigerian Content Forum in December. The fund will provide long-term risk capital targeted at high-impact sectors, including the gas value chain, renewable energy, the blue economy, and indigenous innovation.
Tamrose Executive Chairman, Mr. Ambrose Ovbiebo, said the NCI loan served as a “foundational catalyst” for the company’s transformation. According to him, Tamrose grew from four security vessels in 2019 to a fleet of 15 vessels, comprising 10 security patrol boats and five platform supply vessels purpose-built for offshore operations.
Ovbiebo highlighted additional milestones including the firm’s expansion into Angola under the Nigerian flag, an increase in its workforce from 50 to 244 employees, training of more than 100 cadets under the Tamrose Cadetship Scheme, and provision of healthcare coverage for over 1,500 beneficiaries.
He expressed appreciation to industry clients such as ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron Nigeria Limited, First E&P, Nigeria LNG Limited, and Oriental Energy Resources. He also acknowledged financial partners—Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and BOI—for supporting the company’s growth journey.
BOI’s Divisional Head for Extractive and Natural Resources, Mr. Taiye Emagha, described Tamrose as a “model customer” that demonstrated exceptional repayment discipline by completing its loan obligations without reminders.
Also speaking, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola—represented by Mr. Jibril Abba—commended Tamrose for maintaining a fully Nigerian-flagged fleet and for its operational excellence. He thanked the NCDMB for facilitating the company’s achievements and promoting indigenous participation in maritime logistics.
