Tamrose Limited, a Nigerian oil and gas marine services company, has fully repaid a $10 million NCI Fund loan, marking a major milestone.
Since 2019, the company has aggressively expanded its fleet from four to 15 vessels, serving key operators across Nigeria.
Moreover, the fleet now includes 10 security patrol vessels and five platform supply vessels, supporting both international and local clients.
Human Capital And Skills Development
In addition, Tamrose invested heavily in human capital by training crews, certifying technical staff, and establishing a maintenance hub in Port Harcourt.
Executive Chairman Ambrose Ovbiebo celebrated the repayment as “a defining moment” and praised the NCDMB for supporting indigenous companies.
He emphasised, “Our story shows that disciplined execution turns funding into sustainable growth, jobs, and industry value.”
Tamrose Settled NCI Loan
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The NCI Fund provides low-interest financing to Nigerian service providers under the NOGICD Act, fostering local participation and technology transfer.
Tamrose completed the final repayment installment on September 30, 2025, without missing a single payment, showcasing strong financial discipline and operational resilience.
Impact And Future Plans
Consequently, Tamrose’s success ranks among the fund’s most effective case studies, strengthening investor confidence in Nigeria’s marine sector.
To celebrate, the company will host an event in Yenagoa on November 13, highlighting socio-economic benefits such as job creation and skills development.
Looking ahead, Tamrose will reinvest profits into fleet modernisation, digital systems, and regional expansion within the Gulf of Guinea.
Ultimately, Tamrose demonstrates how policy, patient capital, and disciplined management can drive sustainable industrial transformation in Nigeria.
