The Federal Government, through the Minister of State for Petroleum Resources, Oil, Heineken Lokpobiri, has reaffirmed its strategic commitment to empowering local players in the energy sector, citing the performance of Tamrose Limited as a prime example of successful state-backed support.
Speaking at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters in Yenagoa, the Minister lauded Tamrose for its recent, full repayment of a $10 million facility sourced from the Nigerian Content Intervention Fund (NCI Fund). This achievement was highlighted as concrete evidence of the efficacy of providing structured, accessible financing to indigenous oil and gas service providers.
The Imperative of Financial Fidelity
Minister Lokpobiri underscored the significance of Tamrose’s financial discipline, noting that while over 70 companies have drawn from the NCI Fund, Tamrose is among the select 21 firms that have fully liquidated their loan obligations.
“Tamrose’s operational expansion and financial accountability perfectly align with the core mandate of the NCI Fund,” the Minister stated. “The facility was designed to bolster local capability, enabling Nigerian service companies to effectively compete both domestically and across the African continent. Their expansion—growing their fleet from four vessels to fifteen and generating substantial employment—establishes a clear standard for excellence and growth within the marine logistics space.”
The government’s renewed commitment is centered on scaling these support mechanisms to ensure more Nigerian-owned enterprises gain the necessary financial backing to expand capacity and deepen their involvement in the lucrative offshore and marine sector.
A Testament to the Content Policy
Representing the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, the General Manager of Corporate Communications & Zonal Coordination, Esueme Dan Kikile, echoed these sentiments, labeling Tamrose as the embodiment of the successful outcomes envisioned by the Nigerian Content framework.
“This gathering celebrates more than a single company’s success; it validates the strategic effectiveness of our local content policies,” Kikile remarked. “Tamrose has demonstrated outstanding leadership, financial integrity, and a commitment to accountability. Their progression from a minor fleet operator to a major marine logistics provider is conclusive proof that the NCI Fund is yielding tangible results, justifying our continued support for credible indigenous entities.”
Entrepreneurial Vision and Global Ambition
Mr. Ambrose Ovbiebo, the Executive Chairman of Tamrose Limited, used the event—themed “Celebration of Growth and Impact”—to express profound appreciation and advocate for the wider Nigerian entrepreneurial ecosystem.
“The support we secured through the NCI Fund in 2019 was not just pivotal; it became the foundational catalyst accelerating our evolution,” Mr. Ovbiebo stated. “Today, we stand as a powerful affirmation that indigenous Nigerian companies, given the correct government and institutional backing, possess the capacity to scale operations and dominate key sectors across Africa and globally.”
He detailed the company’s growth, which saw its active fleet multiply from four to fifteen units, comprising purpose-built security patrol and platform supply vessels selected for reliability and efficiency. The event, held in collaboration with NCDMB, convened key stakeholders including financial institution heads, regulatory body leaders, and top executives from local and international oil companies, reinforcing the collaborative environment necessary for sustained indigenous growth.
