The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Tamrose Limited for its outstanding performance and full repayment of a $10 million facility obtained under the Nigerian Content Intervention Fund (NCIFund).
Speaking during an event tagged “Celebration of Growth and Impact” organized by Tamrose Limited on Thursday at the Nigerian Content Development and Monitoring Board (NCDMB) Conference Hall in Yenagoa, Bayelsa State, the minister described Tamrose as a model company in Nigeria’s oil and gas industry.
Lokpobiri lauded the partnership between NCDMB and Tamrose, noting the firm’s remarkable expansion from four to fifteen offshore support vessels. “We believe this is the right way to go,” he stated, adding that such success stories demonstrate the importance of supporting indigenous participation in the sector.
The minister further encouraged other Nigerian-owned companies to take advantage of available funding opportunities provided by the NCDMB to grow their operations, enhance capacity, and create employment opportunities. He emphasized that such initiatives align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic empowerment and local content development.
In his remarks, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe (FNSE, FIPS), represented by the General Manager, Human Capacity Development, Mr. Esueme Dan Kikile, commended Tamrose’s journey as a testament to what Nigerian talent, ownership, and innovation can achieve when given the right support.
“Dreams are free,” he said, emphasizing that Tamrose’s transformation from a modest operator to a leading marine logistics company was made possible through the NCIFund. Ogbe announced that the company had not only completed repayment of its $10 million facility but had done so on schedule, joining over 20 indigenous firms that have successfully met their repayment obligations.
He also revealed plans for the launch of a new Nigerian Content Equity Fund (NCEF), designed to provide long-term capital for indigenous companies operating in high-impact sectors of the economy.
In his welcome address, the Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, described the event as both a celebration and a moment of reflection. He attributed the company’s success to its unwavering commitment to safety, operational excellence, and customer-centric service, while expressing gratitude to NCDMB for its steadfast support and visionary leadership.
Partners and stakeholders at the event commended Tamrose for its integrity, accountability, and exemplary repayment record, affirming its role as a benchmark for indigenous excellence in Nigeria’s oil and gas industry.
