Tamrose Repays $10m Content Intervention Fund Loan, Grows Fleet By 200%

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 industry. NCDMB confirmed that the final instalment was completed on September 30, 2025, with no missed payments throughout the six-year repayment period.

When 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. This growth, achieved within six years, positions Tamrose as a leading indigenous marine solutions provider to Nigeria’s oil and gas industry.

The executive chairman of Tamrose Limited, 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. 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.

In a letter addressed to the executive secretary of NCDMB, Engr. Felix Omatsola Ogbe, Ovbiebo, thanked the Board for its unwavering support of indigenous companies. He stated that the repayment milestone also marks a defining moment in the company’s growth journey as a marine solutions provider and a proud beneficiary of NCDMB’s intervention.

In recognition of this achievement, Tamrose proposed hosting a celebration event at the NCDMB conference hall in Yenagoa, Bayelsa State, on November 13, 2025. Oil and gas stakeholders across the country will attend the event, which 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.