– Lokpobiri hails firm as model for indigenous participation in oil sector
Mkpoikana Udoma
Port Harcourt — Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has lauded indigenous marine logistics company, Tamrose Limited, for its exemplary performance under the Nigerian Content Intervention Fund, NCI Fund, following the firm’s full repayment of a $10 million facility.
Speaking at the company’s “Celebration of Growth and Impact” event, Lokpobiri, who also serves as Chairman of the Nigerian Content Development and Monitoring Board, NCDMB Governing Council, described Tamrose’s achievement as a model for others in the oil and gas industry.
“I commend Tamrose Limited for its exemplary commitment to fulfilling its obligations under the NCI Fund,” Lokpobiri said. “The company’s expansion from four to fifteen offshore support vessels is remarkable. We believe this is the right way to go.”
The Minister urged other Nigerian oil service firms to emulate Tamrose’s success by leveraging similar funding opportunities to grow capacity, acquire assets, and create jobs in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“We are committed to seeing more indigenous players rise to global standards,” he added. “This is how we build a sustainable oil and gas industry where Nigerians are not just participants, but leaders.”
Representing the NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, the General Manager of Human Capacity Development, Esueme Dan Kikile, praised Tamrose’s transformation as a clear example of how access to the NCI Fund can stimulate industrial growth.
“Dreams are free. Tamrose’s growth is a testament to what Nigerian talent, ownership, and innovation can achieve when supported.”
He disclosed that the company’s full repayment of its $10 million loan placed it among more than 20 indigenous firms that have successfully met their funding obligations to the Board.
“The NCI Fund was established to empower Nigerian companies,” he said. “Tamrose’s success story justifies that vision. We’re proud to see how this initiative continues to drive real impact across the sector.”
Ogbe also revealed that the Board is preparing to launch a new Nigerian Content Equity Fund, NCEF, to provide long-term capital for Nigerian companies operating in high-impact sectors.
In his remarks, the Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, described the event as “a moment of reflection,” highlighting the company’s journey from a modest operator to a major player in offshore support services.
“Our distinction lies in our steadfast commitment to safety, operational excellence, and customer-centric service,” Ovbiebo said. “We repaid our loan on schedule, without missing a single installment, and this is a testament to the discipline and resilience of our team.”
He attributed the company’s success to the support and visionary leadership of the NCDMB.
“The singular support of the NCDMB has been the key catalyst for our growth and success,” he said. “We deeply appreciate the Executive Secretary for his unwavering belief in indigenous capacity.”
Tamrose’s milestone underscores the growing impact of the NCI Fund as a catalyst for local content development, driving Nigerian ownership and participation in the nation’s oil and gas logistics value chain.
