The Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Thursday praised Tamrose Limited for effectively using the Nigerian Content Intervention Fund to grow its marine logistics operations and expand its offshore support services beyond Nigeria. The Minister gave this commendation during an event held at the Nigerian Content Tower in Swali, Yenagoa, where he highlighted the company’s progress and the significant impact of the Nigerian Content Development and Monitoring Board’s funding support on local participation in the oil and gas industry.
Speaking on the achievements made through the Nigerian Content Development and Monitoring Board’s US$350 million Nigerian Content Intervention Fund, the Minister said he was pleased that the Fund had contributed to the success of Tamrose. He noted that the company accessed a US$10 million credit facility in 2019 through the Bank of Industry, which manages the Fund, and used it to expand from four patrol vessels to 15 vessels in 2025. He also confirmed that the company completed repayment of the loan in September 2025. According to him, it was a moment of pride to witness the event and to celebrate what he described as “the success of the partnership between NCDMB and Tamrose.” He added, “I am happy that Tamrose has gone beyond the shores of Nigeria to render logistics services in the oil and gas industry across the continent of Africa.”
Senator Lokpobiri stressed that the Nigerian Content Intervention Fund was created to strengthen local capacity and ensure Nigerian companies can compete in global oil and gas markets. He said the example set by Tamrose should encourage more indigenous operators to develop capacity, improve service delivery, and take advantage of opportunities in the African energy sector. Pointing to the purpose of the Fund, he said it was designed not only to support Nigerian operations but also to ensure companies can offer services across international markets. He warned that beneficiaries who fail to repay their loans would face legal action, emphasising that loan discipline is essential for the sustainability of the Fund. As Chairman of the NCDMB Governing Council and Minister of Petroleum Resources, he assured indigenous companies that the government remains committed to expanding the Fund. He said the goal is “to continue to grow this Fund so that companies like Tamrose… would continue to acquire more capacity and render the services that are needed in the oil and gas industry.”
In his remarks, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, said the event was organised to celebrate Tamrose, recognise its success story, and demonstrate what the Nigerian private sector can achieve when local talent and capital are properly supported. Represented by the General Manager of Human Capacity Development, Mr. Esueme Dan Kikile Esq., he stated that the commitment and professionalism of Tamrose’s workforce would continue to boost the Nigerian marine logistics subsector. He explained that the Nigerian Oil and Gas Industry Content Development Act of 2010 was created to ensure that Nigerians remain at the centre of value creation in the oil and gas sector, and confirmed that NCDMB has translated this mandate into visible impact through structured frameworks and strong partnerships.
Engr. Ogbe said the NCI Fund was designed to provide structured capital to qualified Nigerian companies that show capacity and contribute to the Fund. He noted that “Tamrose Limited stands as clear evidence that our approach is delivering results.” He emphasised that NCDMB is committed to supporting credible enterprises, strengthening its operational frameworks, deepening transparency, and expanding programmes that help Nigerian companies meet global competition standards. He explained that the Board’s strategic direction includes increasing local participation in the gas value chain, strengthening the Board’s involvement in renewables, expanding the blue economy, and building a strong industrial base driven by Nigerian innovation and investment.
He also announced that following the success of the NCI Fund and the strong performance of some beneficiaries, the Board will unveil a new Nigerian Content Equity Fund during the 2025 edition of the Practical Nigerian Content Forum in December. The new Fund will provide long-term risk capital to support Nigerian companies operating in high-value and high-impact sectors.
Earlier, in a welcome address, the Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, spoke about the company’s journey from modest beginnings to becoming a trusted partner to major international and independent oil and gas companies. He recalled that the company operated with only four small security vessels in 2019 when it approached the NCI Fund for support. He said obtaining the US$10 million credit facility marked a turning point for the company. According to him, that support “has turned to not just be pivotal but a foundational catalyst that has propelled and continues to accelerate both our growth and evolution as a company.”
Mr. Ovbiebo said the company grew from four vessels to a fleet of 15, including 10 security patrol vessels and five platform supply vessels, all purpose-built and selected to deliver safe and efficient services. He described the outcome of the facility as a celebration of growth and wider economic impact. He said the expansion enabled the company to extend its operations from Nigeria to Angola, flying the Nigerian flag proudly across Africa. He also highlighted job creation achievements, noting that staff strength increased from 50 to 244. He mentioned that the company has trained more than 100 cadets under the Tamrose Cadetship Training Scheme, enabling them to qualify for global employment opportunities. He added that improved health care access for staff and communities has also resulted in more than 1,500 enrollees benefiting from various schemes.
He thanked the company’s valued clients, including ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron Nigeria Limited, First E&P, Nigeria Liquefied Natural Gas Limited, and Oriental Energy Resources, for their trust and long-term partnerships. He also expressed gratitude to the company’s financial partners, such as Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and the Bank of Industry.
He appreciated the Minister, describing him as “an ardent supporter of indigenous capacity building,” and extended heartfelt thanks to the Executive Secretary of the NCDMB for what he called visionary leadership and steadfast partnership.
In a goodwill message, the Divisional Head of Extractive and Natural Resources at the Bank of Industry, Mr. Taiye Emagha, praised Tamrose for its strong repayment discipline. He said Tamrose was the kind of customer any good bank would prefer to work with. He added that the company repaid the loan fully and on time without any reminders from the Bank of Industry. He wished the company continued success.
The Director General of the Nigerian Maritime Administration and Safety Agency, Dr. Dayo Mobereola, represented by Mr. Jibril Abba, also commended Tamrose for operational excellence and for maintaining a fully Nigerian-flagged fleet. He thanked the NCDMB for supporting the company to achieve its milestones and encouraged the firm to continue pushing the boundaries of indigenous capacity in marine logistics and offshore support services.
