TAMROSE’S SUCCESS STORY: MINISTER LAUDS INDIGENOUS FIRM’S GROWTH, PLEDGES SUPPORT FOR CONTENT FUND
GREATRIBUNETVNEWS–The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Tamrose Limited for utilizing the Nigerian Content Intervention Fund to expand its fleet and operations. Here are the key issues:
– Tamrose’s Growth: The company has grown its fleet from 4 to 15 patrol vessels, expanding operations to Angola and other African countries.
– Loan Repayment: Tamrose repaid its $10 million loan from the Nigerian Content Intervention Fund in September 2025.
– Minister’s Support: Senator Lokpobiri pledged to grow the Content Fund, urging other beneficiaries to repay their loans or face legal action.
– *Indigenous Capacity Building*: The NCDMB aims to strengthen local capacity to service the oil and gas industry globally.
– Nigerian Success Story : Tamrose’s success is a testament to Nigerian talent, ownership, and capacity, inspiring other indigenous companies
The Executive Secretary reiterated that the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, was established “to ensure that Nigerians sit at the centre of value creation in our energy industry,” and that NCDMB has translated its mandate into real impact through deliberate frameworks, clear processes, and strong partnerships.
On the NCI Fund, he said the intention is “to provide structured capital to qualified Nigerian companies that demonstrate capacity and are contributors to the Fund,” and that “Tamrose Limited stands…as clear evidence that our approach is delivering results.”
The NCDMB boss, represented by the General Manager, Human Capacity Development (HCD), Mr. Esueme Dan Kikile Esq., said the Board remains committed to supporting credible Nigerian enterprises and determined to strengthen its frameworks, deepen transparency, and expand programmes that equip companies to match global competition.”
The strategic direction of the NCDMB, he explained, is to increase Nigerian participation in the gas value chain, strengthen the Board’s role in renewables, expand the blue economy, and to build a strong industrial base that is powered by Nigerian talent, Nigerian capital, and Nigerian innovation.
He announced that on the back of the success of the NCI Fund and the outstanding performance of some beneficiaries, a new product, Nigerian Content Equity Fund (NCEF) would be unveiled at the 2025 edition of the Practical Nigerian Content (PNC) Forum in December. The new Fund is to provide long-term risk capital to support Nigerian companies in high-value and high-impact sectors.
Earlier in a welcome address, the Executive Chairman of Tamrose, Mr. Ambrose Ovbiebo, stated that from a modest beginning with “a very small team of professionals” the company has grown to become “the trusted partner of some of the most respected international and independent oil and gas companies globally.”
He said his company had only four small security vessels in 2019 when its Management approached the NCI Fund and obtained the $10 million credit facility for operational expansion. That singular support, he noted, “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.”
According to him, since then the company’s operations have grown from four vessels to 15 units, comprising 10 security patrol vessels and five platform supply vessels – all purpose-built and carefully selected to safely deliver efficient and excellent services.
He said the outcome of the facility from the NCDMB “is a celebration of growth and impact, growth from Nigeria to Angola, proudly flying the Nigerian flag; impact in job creation from 50 to 244 staff and counting, impact in human capacity development, with over a hundred cadets trained under Tamrose Cadetship Training Scheme and qualified for global employment; impact in health care accessibility with over 1,500 enrollees.”
The Tamrose boss thanked the company’s valued clients including ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron Nigeria Limited, First E&P, Nigeria Liquefied Natural Gas (NLNG) Limited, and Oriental Energy Resources, for their enduring trust and for the privileged opportunity to serve. He also expressed deep appreciation to the company’s financial partners – Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and Bank of Industry.
He thanked the Hon. Minister, whom he described as “an ardent supporter of indigenous capacity building,” for finding time to attend the event, and expressed his sincere appreciation to the Executive Secretary of the NCDMB “for his visionary leadership and steadfast partnership.”
In a goodwill message, the Divisional Head, Extractive and Natural Resources, of BOI, Mr. Taiye Emagha, described Tamrose as the kind of customer every good bank would want to deal with. According to him, “As a beneficiary of the [NCI] Fund, Tamrose consistently demonstrated exceptional repayment discipline,” and fully repaid the facility in line with the agreed terms, and without any reminder from the bank. He wished the company more successes.
From the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, represented by Mr. Jibril Abba, were further commendations for the leadership and team of Tamrose “for exemplifying operational excellence and, most importantly, for sustaining a fully Nigerian-flagged fleet.” He thanked the NCDMB for aiding the company to attain its successes.
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