NCDMB to launch Nigerian Content Equity Fund for indigenous companies
Nigeria’s petroleum development authority plans to establish a new equity financing mechanism that will supply patient capital to local energy sector businesses requiring sustained investment. Felix Omatsola Ogbe, who leads the Nigerian Content Development and Monitoring Board, indicated the Nigerian Content Equity Fund will receive a formal introduction at an upcoming industry conference targeting strategic and emerging segments.
The announcement accompanied recognition of Tamrose Limited, which expanded from four vessels to fifteen while fully repaying a $10 million loan from the board’s intervention program. Minister of State for Petroleum Resources Heineken Lokpobiri, speaking in Yenagoa, Bayelsa State, highlighted the marine logistics company’s growth as evidence that structured public sector financing can drive indigenous capacity building across oil and gas operations.
Tamrose Executive Chairman Ambrose Ovbiebo credited the initial funding facility with enabling workforce expansion from 50 to 244 employees, cadet training for over 100 individuals, and healthcare delivery to more than 1,500 recipients. The company now serves major operators, including ExxonMobil, SEPLAT Energy, TotalEnergies, and Chevron, with support from Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and Bank of Industry.
