“Petroleum Minister Hails Tamrose’s Success, Vows to Boost Funding for Indigenous Oil & Gas Firms”

From 4 to 15 Vessels in Six Years: Tamrose’s Growth Story Showcases the Impact of the Nigerian Content Intervention Fund

The Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Tamrose Limited, a leading indigenous marine logistics and offshore support company, for leveraging the Nigerian Content Intervention Fund (NCIF) to expand its fleet and extend operations to Angola and other parts of Africa.

Speaking Thursday at the Nigerian Content Tower (NCT) in Swali, Yenagoa, Minister Lokpobiri highlighted that Tamrose’s success exemplifies the effectiveness of the US$350 million NCIF managed by the Nigerian Content Development and Monitoring Board (NCDMB).

“Tamrose’s growth from four patrol vessels in 2019 to 15 in 2025, fully repaying its US$10 million facility last month, is a testament to the strength of Nigerian capacity,” the Minister said. “It brings me joy to see an indigenous company delivering logistics services across Africa while flying the Nigerian flag.”

The Minister emphasized that the NCIF was created to strengthen local capacity, not just for Nigeria’s oil and gas industry but to enable companies to compete globally. He further urged other beneficiaries to honor their obligations to the Fund or face legal action.

“As Chairman of the Governing Council of NCDMB, my commitment is to continue growing this Fund so companies like Tamrose can acquire capacity and deliver critical services to the industry,” Lokpobiri added.

In his remarks, NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, praised Tamrose’s leadership and workforce for professional excellence and called the company’s success a clear demonstration of the benefits of Nigerian ownership and talent. He noted that the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, has fostered real impact through frameworks, processes, and strategic partnerships that empower local companies.

The Executive Secretary further announced that a new initiative, the Nigerian Content Equity Fund (NCEF), will be unveiled at the December 2025 Practical Nigerian Content (PNC) Forum. The NCEF aims to provide long-term risk capital to Nigerian companies operating in high-value sectors.

Tamrose Executive Chairman, Mr. Ambrose Ovbiebo, reflected on the company’s journey: “From a small team with four vessels in 2019, the support from the NCIF has been a foundational catalyst for growth. Today, we operate 15 purpose-built vessels, employ 244 staff, and have trained over 100 cadets for global deployment.”

Ovbiebo also highlighted the company’s social impact, including healthcare access for over 1,500 enrollees, and thanked key clients such as ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron, First E&P, NLNG, and Oriental Energy Resources for their trust. Financial partners Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and Bank of Industry were also acknowledged for their role in Tamrose’s success.

Commending Tamrose’s exemplary performance, the Bank of Industry’s Divisional Head for Extractive and Natural Resources, Mr. Taiye Emagha, described the company as a model client for its disciplined repayment of the facility. Likewise, the Nigerian Maritime Administration and Safety Agency (NIMASA) praised Tamrose for maintaining a fully Nigerian-flagged fleet and demonstrating operational excellence.

Tamrose’s story underscores the growing capacity of indigenous firms in Nigeria’s oil and gas sector, showcasing how strategic funding and local talent development can translate into regional and continental impact.

Petroleum Minister Heineken Lokpobiri lauds Tamrose Limited for expanding its fleet from 4 to 15 vessels using the Nigerian Content Intervention Fund, pledges to strengthen the Fund for indigenous oil and gas companies.

Tamrose Limited grows from 4 to 15 vessels with support from the Nigerian Content Intervention Fund. Petroleum Minister Heineken Lokpobiri pledges continued support for indigenous capacity in Nigeria’s oil and gas sector.