By peace Udugba
13 November 2025 – The Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the Federal Government’s commitment to expanding financial and institutional support for indigenous oil and gas service companies. He highlighted the success story of Tamrose Limited and the Nigerian Content Intervention Fund (NCI Fund) as a clear example of the transformative impact structured and accessible funding can deliver.
Speaking at a high-level stakeholder event held at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters in Yenagoa, the Minister praised Tamrose Limited for its financial discipline and impressive operational growth, particularly after fully repaying its $10 million NCI Fund facility.
He noted that the company’s performance reinforces the need to widen such support frameworks to help more Nigerian-owned firms build capacity and increase participation in the offshore and marine logistics segment of the industry.
“Over 70 companies have accessed the NCI Fund, but only 21 have fully repaid their loans — and Tamrose is proudly one of them,” the Minister stated.
He continued, “Their achievement reflects the very purpose for which the Fund was established — to strengthen local capacity and empower Nigerian service companies to compete both domestically and across Africa. With this support, Tamrose has not only scaled its operations but has also expanded beyond Nigeria’s borders, growing its fleet from four to fifteen vessels, creating employment opportunities for Nigerians, and setting a high standard for operational excellence.
“As Minister and Chairman of NCDMB, our commitment is to sustain and expand this kind of growth by ensuring indigenous companies have access to the financial and institutional backing needed to scale, thrive, and contribute meaningfully to Nigeria’s oil and gas sector.”
Also speaking on behalf of the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, the General Manager, Corporate Communications & Zonal Coordination, Esueme Dan Kikile, hailed Tamrose as a prime example of what can be achieved when indigenous firms operate with discipline, capability, and innovation.
Today is not merely a celebration of one company,” he said. “It is a reaffirmation of the success possible through the Nigerian Content framework. Tamrose has demonstrated exceptional leadership, financial fidelity, and accountability — qualities we hope to see replicated across the industry.
Their growth — from a small operator to a major marine logistics service provider — is proof that the NCI Fund is delivering real impact. “This is why we will continue to support more credible Nigerian companies to access this fund and expand their capacity,” the Minister added.
The event, themed “Celebration of Growth and Impact, was hosted by Tamrose in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB). It brought together senior government officials, leaders of international and indigenous oil companies, financial institutions, traditional rulers, and other strategic partners.
Distinguished guests included Dr. Olasupo Olusi, Managing Director of the Bank of Industry; Dr. Dayo Mobereola, Director-General of NIMASA; Rear Admiral Gboribiogha John Jonah (Rtd), former Deputy Governor of Bayelsa State; and representatives from Keystone Bank, ExxonMobil, First E&P, and Oriental Energy.
In his remarks, Mr. Ambrose Ovbiebo, Executive Chairman of Tamrose Limited, expressed deep appreciation to the Ministry of Petroleum Resources, NCDMB, and the Bank of Industry for their support. He reaffirmed the company’s commitment to building indigenous capacity in offshore marine logistics.
We are gathered here today, using Tamrose as a point of contact — a symbol and amplification of the voices of all Nigerian entrepreneurs in the oil and gas sector and beyond,” he said.
Over the years, Tamrose Limited has consistently demonstrated a strong commitment to indigenous capacity development, human capital advancement, and community empowerment. The company has achieved approximately 300% fleet growth, extending its operational footprint beyond Nigeria to Angola — proudly flying the Nigerian flag across all its assets.
Tamrose has created nearly 250 direct jobs and supported over 600 indirect livelihoods across the maritime ecosystem. Through its Cadetship Training Scheme, the company has trained over 100 cadets to international seafaring standards. It has also enrolled more than 1,500 employees in health insurance schemes, improving healthcare access across its workforce.
These milestones significantly contribute to NCDMB’s target of achieving 70% local content by 2027 — reinforcing Tamrose’s role as a driver of national development and sustainability within Nigeria’s maritime and oil and gas sectors.
“We are here to boldly declare that Nigeria can work — and that indigenous Nigerian companies can scale, thrive, and dominate not just across Africa, but globally, with the right institutional and government support,” said Mr. Ambrose Ovbiebo, Executive Chairman of Tamrose Limited.
“In 2019, Tamrose accessed and secured a US $10 million facility through the Nigerian Content Intervention Fund (NCI Fund). That singular act of support from the NCDMB became not only pivotal but a foundational catalyst that has propelled — and continues to accelerate — our growth and evolution as a company,” he stated.
Since then, Tamrose’s operations have expanded significantly — growing its fleet from four to fifteen active vessels, including ten security patrol boats and five platform supply vessels. Each vessel is purpose-built and carefully selected to deliver Tamrose’s hallmark services marked by safety, efficiency, and reliability.
