The Federal Government, through the Nigerian Content Development and Monitoring Board, has announced plans to launch the Nigerian Content Equity Fund.

According to the board, the fund will provide long-term risk capital to Nigerian oil and gas companies operating in high-value, high-impact segments of the industry.

This was disclosed on Thursday at the NCDMB Towers in Yenagoa, Bayelsa State, during an event jointly organised by Tamrose Limited and the board to mark Tamrose’s repayment of a $10m loan obtained under the Nigerian Content Intervention Fund.

The Executive Secretary of NCDMB, Felix Ogbe, represented at the event by the Board’s General Manager for Human Capacity Development, Esueme Kikile, announced that a new equity fund is set to launch in December.

“We will continue to expand our activities to strengthen our role in renewables, expand the new economy, and build a strong industrial base that is powered by Nigerian talent, Nigerian capital, and Nigerian innovation. On the back of the success of the NCIF fund and the outstanding performance of over 70 beneficiary companies, I am pleased to announce today and to inform the industry that a new product, the Nigerian Content Equity Fund, will be unveiled soon.

”The NCEF is designed to provide long-term risk capital to support Nigerian companies operating in high-value and high-impact sectors. This innovative product will be officially launched at our Practical Nigerian Content Forum, to be held here in this hall in December,” Ogbe said.

He further stated that Tamrose has demonstrated what can be achieved when discipline meets opportunity, describing the company’s journey as not just a corporate success, but a national one.

“Today we celebrate Tamarose, but more importantly, we celebrate what their journey represents for Nigeria. I commend Tamarose Limited and all our NCIF fund beneficiaries who have set a standard that others can aspire to. Their achievements reaffirm our belief in the capacity of Nigerian enterprises to deliver excellence. I equally reaffirm the commitment of NCDMB to empower more indigenous communities to rise, grow sustainably, and compete confidently on the global stage,” he stated.

Ogbe noted that the Nigerian Content Intervention Fund helped Tamrose evolve from a small operator into a top marine logistics company, and that it has fully settled its $10 million loan, joining over 20 other indigenous firms that have successfully met their repayment commitments.