Nigeria’s Minister of State for Petroleum Resources, Oil, Senator Heineken Lokpobiri, has renewed the Federal Government’s commitment to unlocking wider financial and institutional support for indigenous oil and gas service companies, citing the success of Tamrose Limited and the Nigerian Content Intervention Fund (NCI Fund) as a strong demonstration of what structured, accessible support can achieve.

Speaking at a landmark stakeholder event held at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters in Yenagoa, the Minister commended Tamrose Limited for its financial discipline and operational growth following the full repayment of its $10 million NCI Fund facility. He noted that the company’s progress underscores the importance of expanding support mechanisms to enable more Nigerian-owned companies to scale capacity and deepen their participation in the country’s offshore and marine logistics sector.

He said, “Over 70 companies have accessed the NCI Fund, yet only 21 have fully repaid their loans — and Tamrose is one of them. Their achievement reflects the very purpose for which the Fund was created: to strengthen local capacity and empower Nigerian service companies to compete at home and across Africa. Through this support, Tamrose has not only grown its operations but expanded beyond Nigeria’s shores, increasing its fleet from four vessels to fifteen, creating jobs for Nigerians, and setting a clear benchmark for operational excellence. As Minister and Chairman of NCDMB, our commitment is to continue fostering this kind of growth by ensuring that indigenous companies receive the support they need to scale, thrive, and deepen their contribution to the nation’s oil and gas sector.’’

Also speaking on behalf of the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, the General Manager, Corporate Communications & Zonal Coordination, Esueme Dan Kikile, described Tamrose as an example of the outcomes envisioned when indigenous firms apply discipline, capability, and innovation in their operations noting, “Today is not just a celebration of one company; it is a reaffirmation of what is achievable through the Nigerian Content framework. Tamrose has shown strong leadership, financial fidelity, and accountability. Their growth—from a small operator to a major marine logistics service provider—is proof that the NCI Fund is working. This is why we will continue to support more credible Nigerian companies to access this fund and expand their capacity.”

The event themed “Celebration of Growth and Impact” hosted by Tamrose in collaboration NCDMB, brought together senior government officials, leaders of international and indigenous oil companies, financial institutions, traditional rulers, and other strategic partners. Distinguished guests included Dr. Olasupo Olusi, Managing Director of the Bank of Industry; Dr. Dayo Mobereola, Director-General of NIMASA; Rear Admiral Gboribiogha John Jonah (Rtd), former Deputy Governor of Bayelsa State; and representatives of Keystone Bank, ExxonMobil, First E&P, and Oriental Energy.

In his remarks, Mr. Ambrose Ovbiebo, Executive Chairman of Tamrose Limited, expressed appreciation to the Ministry, NCDMB, and Bank of Industry for their support and reiterated the company’s commitment to strengthening indigenous capacity in offshore marine logistics. He said, ‘’We are gathered here today using Tamrose as a point of contact, a convergence and amplification of the voices of all Nigerian entrepreneurs in the oil and gas sector and beyond. We are here to say loudly that Nigeria can work, and that indigenous Nigerian companies can scale and dominate Africa and indeed the world — with the right government and institutional support. In 2019, Tamrose accessed and secured a US $10 million facility through the NCI Fund. That singular support from NCDMB turned out to become not just pivotal, but a foundational catalyst that has propelled and continues to accelerate our growth and evolution as a company. Since then, our operations have grown from four vessels to fifteen active units, comprising ten security patrol vessels and five platform supply vessels — all purpose-built and carefully selected, to safely deliver our hallmark excellent services of reliability and efficiency. ‘’

Over the years, Tamrose Limited has consistently demonstrated its commitment to indigenous capacity development, human capital growth, and community empowerment through a range of initiatives. Since accessing the NCI Fund in 2019, the company has expanded its fleet from four to fifteen vessels — achieving about 300% fleet growth and extending operations from Nigeria to Angola while proudly flying the Nigerian flag everywhere they go. Tamrose has created nearly 250 direct jobs, supported over 600 indirect family livelihoods across the maritime ecosystem, and trained more than 100 cadets under the Tamrose Cadetship Training Scheme to international seafaring standards. The company has also enhanced healthcare accessibility for its workforce, enrolling over 1,500 employees in HMOs, and significantly accelerated NCDMB’s goal of achieving 70% local content by 2027. Beyond business growth, these initiatives underscore Tamrose’s ongoing commitment to building a strong, skilled, and sustainable Nigerian maritime sectors

Rivers State Governor, Sir Siminalayi Fubara, has strongly condemned what he described as a deliberate campaign of misinformation aimed at portraying Rivers State as unsafe. He reaffirmed that the state remains peaceful and fully open for business, tourism, and major events.

Speaking on Sunday night at the grand finale of the Python Golf Club’s 6th Edition Chief Ikenna Okafor 2025 Pro-Amateur Golf Championship in Port Harcourt, the Governor said the large turnout of visitors from across the African continent was clear evidence that the negative narratives circulating in the media are engineered, exaggerated, and politically motivated.

“I can tell you the truth: more than half of the things you read in the media are not true,” he said. “Worse things have happened in other states, but because they manage their media, people don’t read about them. But in our case, just to run us down and make us look like the devil with invisible horns, they say anything to portray us in a bad light.”

The governor argued that some enemies of Rivers have “weaponised” the state’s challenges in a bid to distort public perception for their own advantage.

While acknowledging that earlier political tensions caused about six months of disruption, Governor Fubara emphasised that peace has since returned, allowing security agencies to function more effectively.

He praised the coordinated efforts of the joint security team, describing their performance as “wonderful” since his administration resumed full activity.

Highlighting the normalcy experienced by guests during the tournament, the Governor noted that visitors moved freely, socialised, and enjoyed the city without any incident.

“Let me thank everyone who has come into Rivers State to participate in this competition. Your presence signifies only one thing: that Rivers State is safe, contrary to what we hear, what we read, and how our state is being presented in the media.”

Governor Fubara pledged continued government support for the competition, including the now to be revived Governor’s Cup tournament, and promised additional assistance to enhance the golf club’s facilities. He reaffirmed the state’s commitment to nurturing events that attract national and international participation.

Calling on participants to share their positive experiences when they return to their various states and countries, the Governor said Rivers State is deliberately working to reclaim and rebuild its public image.

“Our mission is simple,” he said. “To change our story, protect our state, and remind everyone that Rivers State is ours and it is safe.”

In his remarks, the General Officer Commanding the 6 Division of the Nigerian Army, Major General Emmanuel Eric Emekah, said the prevailing atmosphere of peace motivated them to hold the tournament in Rivers State, and its successful conclusion has validated that decision.

He expressed appreciation to the Governor for attending the event and for offering inspiring words that assure continued state support for future editions.

Earlier, chief celebrant of the Python Golf Club’s 6th Edition CIO 2025 Pro-Amateur Golf Championship, Chief Ikenna Okafor, had expressed delight at having a sitting Governor visit the club premises during the competition, something, he said had not happened in 15 years.

He promised to revive the Governor’s Cup tournament, and ensure more championships are held to bring visitors and tourists to the state every year, soliciting government support for the game.

He added that the tournament attracted participants from eight African countries and players from 36 golf clubs across Nigeria, underscoring its significance and the confidence they have in Rivers State.

Highlights of the event included presentation of prizes to winners, cutting of birthday cake of Chief Okenna Okafor and toast to better tournaments ahead.

The Sultan of Sokoto, Alhaji Sa’ad Abubakar, on Sunday appealed to the Sokoto State Government to include traditional rulers in the state in the implementation of the N70,000 minimum wage.

Abubakar made the appeal during a Town Hall meeting organised by the State Ministry of Budget and Economic Planning, preparatory to the submission of the state’s 2026 budget proposal.
Represented by the District Head of Wurno, (Sarkin Sudan of Wurno), Alhaji Kabiru Cigari-Alhassan, Abubakar, reiterated the traditional rulers support to the implementation of all government’s policies and programmes across the state.

The representative of Physically-Challenged Persons, Malama Sa’adatu Abubakar, urged the state government to consider the renovation of Abdulrashid Adisa Raji Special School and establish more special schools across the state in order to cater for persons living with disabilities.
Abubakar, however, commended Gov. Ahmad Aliyu’s administration for its efforts in improving the living standards of the physically-challenged persons and other citizens in the state.

Nafisa Adamu-Gorori, the representative of women groups, asked for the inclusion of more water supply projects to ease the suffering of women and other citizens in sourcing potable water.

Adamu-Gorori decried that water scarcity had hindered small-scale businesses, adding,” because most women engaged in businesses are using water for their preparations.
“The delay in fetching water also prevents girls from attending schools and affects sanitation activities.”
Malama Maimuna Yahaya and Musa Bilya urged the government to renovate abandoned the Murtala Muhammad Hospital to make it fully functional and provide more schools’ furniture in the state.
Fodio Zakariya and Abdurahman Umar, the representatives of Islamic groups and Civil Society Organisations (CSOs), respectively, called for the provision of more people-oriented programmes as well as the expansion of Islamic schools, for the increased inculcation of moral trainings.

Mr Augustine Onah, who spoke on behalf of the residents’ communities, lauded Aliyu’s stewardship that had transformed Sokoto state and called for the construction of more link roads to boost businesses.

The former Deputy Governor, Alhaji Chiso Dattijo, said Sokoto state had about 5.3 million youths out of the 7.2 million total population in the state.

He, therefore , called for increased youths’ empowerment and skills acquisition training programmes.

In his speech, the Commissioner for Budget and Economic Planning, Dr Abubakar Zayyana, said the meeting was to widen consultations on the proposed 2026 budget making.

He said, ” This is besides the approved work guidelines which aligned with the global best practices towards improved transparency and accountability.

The UNICEF representative, Mr Micheal Juma, appreciated the government’s commitment on children’s care, nutrition, healthcare, sanitation, education, and social protection.
He, however, called for sustained efforts through increased budgetary locations.

Responding, Aliyu said Islamic religion would continue to have a high allocation in accordance with the Nine-point Agenda set out by the present administration for Mosques’ and Islamic schools’ construction.
He added that four water supply schemes would soon be refurbished while two had been completed.
Aliyu said that this was apart from the installation of a solar-powered system for the State Water Board facilities and hospitals to address erratic electricity supply.

According to him, 60 per cent of schools had gotten new furniture while 40 per cent would get their shares soon, vowing more budgetary allocations for child nutrition, child health and child education.
Aliyu explained that the state government had partnered with a team of experts from the United Arab Emirate to undertake a joint programme on healthcare and education, which would soon commence.

Many Nigerians have continued to raise concern over the Federal Government’s borrowing spree in spite claims that revenue generation has increased.

The National Assembly recently approved President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the 2025 budget deficit.

The legislators said that the 2025 budget provided for total expenditure of N59.99 trillion, an increase of N5.25 trillion from the initial N54.74tn proposed by the executive.

They said the expansion created a total budget deficit of N14.10 trillion, out of which N12.95 trillion had already been approved for borrowing.

Data from the Debt Management Office (DMO) showed that as of June, Nigeria’s total public debt stood at N152.4 trillion, made up of N71.85 trillion external and N80.55 trillion domestic debt.

The Chairman of the Senate Committee on Appropriations, Senator Olamilekan Adeola, said most of the loan requests had already been factored into the Medium-Term Expenditure Framework and the 2025 budget.

“The borrowing is already embedded in the 2025 Appropriation Act.

“With this approval, we now have all revenue sources, including loans in place to fully fund the budget,” Adeola said.

The Chairman of the Senate Committee on Finance, Senator Sani Musa, said that the borrowings aligned with global economic practices.

“There is no economy that grows without borrowing. What we are doing is in line with global best practices,” he said.

However, Senator Abdul Ningi said that Nigerians deserved to know the specifics of the loans and their intended impact.

Some experts said that Nigeria’s debt service burden could worsen due to the new borrowing plans.

The Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said that Nigeria’s rising debt service burden was already outpacing capital expenditure.

Yusuf said that it could begin to crowd out essential government functions if not properly managed.

He said that there was a need for the government to focus more on revenue growth and fiscal consolidation than piling on new debts.

“Debt service is already far more than the appropriation for capital spending, and the trend is worrying.

“We need to tread very cautiously with respect to debt commitments,” he said.

Yusuf said that Nigeria was spending far beyond its means, with more than 80 per cent of government revenue now devoted to debt servicing.

“We are borrowing primarily to fund consumption and recurrent expenditure rather than productive capital projects.

“This path will only deepen the fiscal crisis if urgent reforms are not undertaken,” he said.

The Deputy Country Director at BudgIT, , Vahyala Kwaga, said the Federal Government’s plan to take on new loans risked breaching Nigeria’s debt threshold.

Kwaga said that the government needed to demonstrate far more transparency and accountability on how it had expended previous debts.

The Chief Executive Officer (CEO) of Financial Derivatives Company, Bismarck Rewane, said that increased domestic borrowing could crowd out private investment.

According to Rewane, the government’s rising appetite for local debt will push up interest rates and reduce access to credit for businesses.

Rewane also said that the borrowing spree may fuel inflationary pressures.

Meanwhile, the DMO said that Nigeria’s public debt remained sustainable.

Speaking at the recently held Nigerian Economic Summit in Abuja, the Director-General of the DMO, Patience Oniha, said that the country’s debt-to-Gross Domestic Product ratio was currently about 40 per cent.

Oniha said that it was well below the 70 per cent international benchmark for emerging economies.

According to her, in spite growing public concern about Nigeria’s debt profile, the country’s borrowing level is not excessive by global standards.