Tamrose Limited, a leading indigenous marine logistics and offshore support company, is now an international player in the maritime industry, courtesy of the support they got from the Nigerian Content Development and Monitoring Board (NCDMB).
The Board had granted them a facility from its US$350 million Nigerian Content Intervention Fund (NCIF) and the company had accessed a US$10 million credit facility from the Fund through the Bank of Industry (BOI), the fund managers, in 2019 and successfully expanded its operating fleet from four patrol vessels in that year, to 15 in 2025.
It also completed repayment of the entire loan in September 2025, a development that has excited the federal government.
Speaking at the Nigerian Content Tower (NCT), Swali, Yenagoa, the Minister of State (Petroleum) expressed happiness that the company had properly managed and repaid the loan, creating jobs and boosting the nation’s economy.
He said it was a thing of joy to be at the ceremony to celebrate the success of the partnership between NCDMB and Tamrose. “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.”
He said the NCI Fund was created for a specific purpose- to strengthen local capacity, not only to service the oil and gas industry in Nigeria but also to service the oil and gas industry globally.
While commending the success of Tamrose as an example for the entire industry, he called on other beneficiaries of the Fund to pay up or face legal action and assured indigenous companies in the oil and gas sector that as Chairman of the Governing Council of the NCDMB and Petroleum Resources Minister, the commitment 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.”
Speaking at the event, Executive Secretary of NCDMB, Felix Omatsola Ogbe, said the event was to celebrate Tamrose and its success story, and also to show “what Nigeria can become when we place our confidence in indigenous talent, Nigerian ownership, and the capacity of our people.”
He appreciated the leadership and workforce of Tamrose, noting that their professionalism and commitment to excellence would continue to elevate the Nigerian marine logistics subsector.
Ogbe 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.”
