Tamrose Limited, a leading oil and gas service company has announced the successful repayment of a $10 million loan it obtained in 2019 from the Nigerian Content Intervention Fund (NCI Fund), the dedicated financing scheme managed by the Nigerian Content Development and Monitoring Board (NCDMB) for growing capacity in the oil and gas.<\/p>\n
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\u200e NCDMB confirmed that the final instalment was completed on September 30, 2025, with no missed payments throughout the six-year repayment period.At the time of accessing the loan, Tamrose operated with only four security patrol vessels. With the support of the NCI Fund, the company expanded significantly and today owns a fleet of 15 vessels comprising 10 security patrol vessels and five platform supply vessels.<\/p>\n
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\u200e This growth, achieved within six years, positions Tamrose as a leading indigenous marine solutions provider to Nigeria\u2019s oil and gas industry.<\/p>\n
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\u200e Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, disclosed that 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.<\/p>\n
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\u200eFor Tamrose, it marks a defining moment in its growth journey and reinforces its position as a proud beneficiary and flagbearer of the NCDMB legacy.<\/p>\n
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\u200eIn a letter addressed to the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, Ovbiebo, expressed appreciation to the Board for its unwavering support of indigenous companies. He stated that the repayment milestone also marks a defining moment in the company\u2019s growth journey as a marine solutions provider and as a proud beneficiary of NCDMB\u2019s intervention.<\/p>\n
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\u200eIn recognition of this achievement, Tamrose proposed to host a celebration event at the NCDMB conference hall in Yenagoa, Bayelsa State on November 13 2025. The event will be attended by oil and gas stakeholders across the country and will serve as an opportunity to showcase how the NCI Fund has empowered indigenous companies, while also highlighting broader benefits, including job creation, human capital development, and value-chain expansion.<\/p>\n
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\u200eThe celebration event will provide an opportunity for stakeholders to reflect on the positive outcomes of NCDMB\u2019s funding interventions and the importance of sustained collaboration in building capacity within the sector.<\/p>\n
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\u200eIt will also serve as a platform to encourage more indigenous operators to take advantage of structured support systems like the NCI Fund to expand their businesses and contribute meaningfully to Nigeria\u2019s local content objectives.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
Tamrose Limited, a leading oil and gas service company has announced the successful repayment of a $10 million loan it obtained in 2019 from the Nigerian Content Intervention Fund (NCI Fund), the dedicated financing scheme managed by the Nigerian Content Development and Monitoring Board (NCDMB) for growing capacity in the oil and gas. \u200e \u200e<\/p>\n","protected":false},"author":1,"featured_media":17909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-18070","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"_links":{"self":[{"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/posts\/18070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/comments?post=18070"}],"version-history":[{"count":0,"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/posts\/18070\/revisions"}],"wp:attachment":[{"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/media?parent=18070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/categories?post=18070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/deepstrataenergy.com\/phmundial\/wp-json\/wp\/v2\/tags?post=18070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}