The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to introduce the Nigerian Content Equity Fund (NCEF), a new financing initiative aimed at expanding access to long-term risk capital for high-impact indigenous companies, particularly MSMEs operating in the oil and gas value chain.
The move comes as the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, commended Tamrose Limited for turning a $10 million Nigerian Content Intervention Fund (NCIF) loan into a continent-wide success story. Speaking at the Nigerian Content Tower in Yenagoa, Bayelsa State, the minister described the company’s rapid growth from four vessels in 2019 to 15 by 2025, alongside full repayment of its facility as clear proof that the Board’s $350 million fund can transform Nigerian enterprises when properly applied.
Lokpobiri emphasized that the Federal Government remains committed to strengthening local capacity, adding that public–private collaboration is essential for scaling homegrown companies. He warned that firms who fail to meet repayment obligations under NCDMB’s financing schemes would face legal consequences, noting that accountability is key to sustaining the fund.
Representing NCDMB’s Executive Secretary, Engr. Felix Omatsola Ogbe, the General Manager of Human Capacity Development, Esueme Dan Kikile, said Tamrose’s rise reflects the core objectives of the NOGICD Act of 2010, which seeks to place Nigerians “at the centre of value creation.” He credited the Board’s structured processes and strong industry partnerships for driving measurable impact in the sector.
Ogbe added that the upcoming NCEF will be officially launched at the 2025 Practical Nigerian Content Forum, explaining that the new window will target strategic and emerging sectors needing patient capital to grow.
Tamrose’s Executive Chairman, Ambrose Ovbiebo, shared the company’s journey from a modest operation with four small vessels to a respected marine logistics firm serving leading international and local oil companies. He described the NCIF as a “foundational catalyst” that helped expand its fleet, increase staff strength from 50 to 244, train over 100 cadets, and deliver healthcare support to more than 1,500 people.
He also acknowledged the support of key clients such as ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron, First E&P, NLNG, and Oriental Energy, as well as financial partners including Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and the Bank of Industry (BOI).
Taiye Emagha, Divisional Head of Extractive and Natural Resources at BOI, praised Tamrose’s consistent repayment record, calling the company “every lender’s ideal customer.” The Director General of NIMASA, Dayo Mobereola represented by Jibril Abba also commended the firm for maintaining a fully Nigerian-flagged fleet and delivering reliable marine services.
The introduction of the NCEF is expected to provide Nigerian MSMEs with greater financial backing to scale operations, strengthen competitiveness, and deepen local participation across the oil and gas industry.
