In a significant milestone for Nigeria’s oil and gas sector, Tamrose Limited, a leading indigenous oil and gas service company, has successfully completed the repayment of a $10 million facility obtained from the Nigerian Content Intervention Fund (NCI Fund). The fund, managed by the Nigerian Content Development and Monitoring Board (NCDMB), is a dedicated financing scheme designed to bolster the capacity of local companies in Nigeria’s oil and gas industry. The final installment of the loan was settled on 30 September 2025, with Tamrose maintaining an impeccable record of no defaults throughout the six-year repayment period.
This achievement marks a defining moment for Tamrose Limited, which has grown from operating just four security patrol vessels in 2019, when the facility was secured, to owning a fleet of 15 vessels today. The company’s expanded portfolio now includes 10 security patrol vessels and five platform supply vessels, positioning Tamrose as one of Nigeria’s foremost indigenous marine solutions providers in the oil and gas sector. The growth underscores the transformative impact of the NCI Fund in enabling local companies to scale operations, compete effectively, and contribute to the nation’s economic development.
The announcement was made in a statement issued on Saturday by Dr. Obinna Ezeobi, General Manager of Corporate Communications at Tamrose Limited. The statement highlighted the rigorous standards applied by the NCDMB in selecting beneficiaries for the NCI Fund and the tangible outcomes of its interventions in fostering indigenous capacity. “The repayment milestone reflects both the rigorous standards NCDMB applies in selecting beneficiaries and the impact of its interventions in building real capacity among indigenous players,” the statement read in part. “For Tamrose, it marks a defining moment in its growth journey and reinforces its position as a proud beneficiary and flag bearer of the NCDMB legacy.”
The statement further emphasized the company’s gratitude to the NCDMB for its unwavering support for indigenous enterprises in an industry historically dominated by foreign operators. “We are deeply appreciative of the NCDMB for its commitment to empowering local companies,” the statement continued. “This achievement reaffirms the strength of Nigeria’s local content policies and their impact on indigenous capacity building. Our repayment success underscores the importance of visionary intervention funds like the NCI Fund in enabling local companies to grow sustainably and contribute meaningfully to national development.”
The Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, also expressed the company’s appreciation in a letter addressed to the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe. Ovbiebo noted that the successful repayment of the $10 million facility is a testament to Tamrose’s evolution as a leading marine solutions provider and a demonstration of the power of public-private collaboration in advancing local content development in Nigeria’s oil and gas value chain. He highlighted how the NCI Fund has enabled Tamrose to expand its operational capacity, create jobs, and contribute to the broader socio-economic goals of the nation.
To celebrate this milestone, Tamrose Limited has announced plans to host a high-profile event at the NCDMB Conference Hall in Yenagoa, Bayelsa State, on 13 November 2025. The event will bring together key stakeholders from the oil and gas industry, including representatives from government agencies, private sector players, and other indigenous operators. According to Tamrose, the gathering will serve as a platform to showcase the impact of the NCI Fund in empowering local companies to achieve operational excellence and sustainability. It will also highlight the broader socio-economic benefits of NCDMB’s interventions, including job creation, human capital development, and the expansion of the local value chain.
Dr. Ezeobi emphasized that the event will provide an opportunity for dialogue on the future of indigenous participation in Nigeria’s oil and gas industry. “The celebration will not only mark Tamrose’s achievement but also inspire other local operators to leverage structured support systems like the NCI Fund to grow their businesses,” he said. The company hopes the event will encourage more indigenous firms to take advantage of similar opportunities to scale their operations and contribute to Nigeria’s economic diversification.
Tamrose’s journey from a modest operator with four vessels to a major player with a fleet of 15 vessels is a compelling case study in the power of targeted funding and disciplined execution. The NCI Fund, established by the NCDMB, has been instrumental in supporting indigenous companies by providing access to low-cost financing for projects that enhance local content in the oil and gas sector. The fund is part of Nigeria’s broader local content policy, which aims to increase the participation of Nigerian companies in the oil and gas industry, reduce dependence on foreign operators, and retain more economic value within the country.
The success of Tamrose Limited is particularly significant in the context of Nigeria’s efforts to deepen local content in the oil and gas sector. The industry has historically been dominated by multinational corporations, with local companies often facing significant barriers to entry, including limited access to capital, technology, and expertise. The NCI Fund addresses these challenges by providing financial support to credible indigenous firms, enabling them to acquire assets, build capacity, and compete on a global stage. Tamrose’s ability to repay the $10 million facility without default demonstrates the viability of this model and the potential for indigenous companies to thrive with the right support.
Tamrose’s growth over the past six years has had a ripple effect on the Nigerian economy. The expansion of its fleet has created numerous direct and indirect jobs, from vessel operators and maintenance crews to administrative and support staff. The company’s operations have also contributed to the development of Nigeria’s maritime infrastructure, as its vessels provide critical services such as security patrols and platform supply for offshore oil and gas operations. These services are essential for maintaining the safety and efficiency of Nigeria’s oil and gas industry, which remains a cornerstone of the national economy.
In addition to its economic contributions, Tamrose has prioritized transparency and accountability in its operations. Dr. Ezeobi noted that the company’s growth reflects a commitment to excellence and disciplined financial management. “Our journey over the last six years demonstrates the transformative power of targeted funding interventions when matched with discipline, accountability, and long-term vision,” he said. “Tamrose remains committed to promoting excellence and transparency in marine operations and driving innovation in support of Nigeria’s local content agenda.”
The NCDMB, under the leadership of Engr. Felix Omatsola Ogbe, has been widely praised for its role in fostering indigenous participation in the oil and gas sector. The board’s initiatives, including the NCI Fund, have empowered numerous local companies to overcome financial and operational barriers, enabling them to compete with international players. The success of Tamrose Limited is a testament to the effectiveness of these initiatives and the NCDMB’s commitment to building a sustainable and inclusive oil and gas industry in Nigeria.
As Tamrose prepares for its celebratory event in Yenagoa, the company is looking to the future with optimism. It plans to continue expanding its operations, investing in new technologies, and building partnerships that enhance its capacity to deliver world-class marine solutions. The company also aims to serve as a model for other indigenous firms, demonstrating that with the right support and a commitment to excellence, Nigerian companies can achieve global competitiveness.
The story of Tamrose Limited is not just one of financial success but also of the broader impact of Nigeria’s local content policies. By empowering companies like Tamrose, the NCDMB is helping to build a more resilient and self-reliant oil and gas industry, one that creates opportunities for Nigerians and contributes to the nation’s long-term development goals. As the industry continues to evolve, Tamrose’s milestone serves as a reminder of the potential for indigenous companies to lead the way in transforming Nigeria’s oil and gas sector.
The celebration event on 13 November 2025 promises to be a landmark occasion, not only for Tamrose but for the entire Nigerian oil and gas industry. It will highlight the achievements of one company while shining a spotlight on the broader vision of local content development that continues to reshape the sector. For Tamrose, the event will be an opportunity to reflect on its journey, celebrate its successes, and inspire others to follow in its footsteps.
