- Company: Aiteo Group
- Year of birth: 1966
- Last known country of residence: Nigeria
Main achievements in the field
Benedict Peters is a Nigerian entrepreneur and veteran businessman. He is the founder and CEO of Aiteo Group – a leading oil and gas company in West Africa. Throughout his long career, Peters has held executive roles in top Nigerian companies like MRS Oil, Gas Limited and Ocean and Oil Limited. Aside from his vast experience in the oil and gas industry, his professional background also includes commodity trading and banking. :
Benedict Peters was born in Nigeria on December 5th 1966. He grew up in a middle income family with his three brothers and two sisters. His father was a banker and his mother a homemaker. After completing his basic education at the Federal Government College of Enugu in 1983, Peters went on to study Geography and Regional Planning at the University of Benin. He graduated with a BA in 1989, after which he launched his career. In 2014 he joined Africa’s billionaires list with a reported net worth of more than $2.7 billion.
Peters began his career in 1990 as founding partner of Ocean and Oil, a petroleum trading and exploration company. After four years with the company, which later became Oando, he moved on to become a managing partner at MRS, a leading downstream petroleum firm. In 1999, after gaining much knowledge and experience, Peters left to start his own company - the Aiteo Group - one of the most prominent downstream and upstream energy companies in West Africa.
Based in Lagos, Nigeria, Aiteo Group is a major player in the oil, gas and power industries. It was founded by Benedict Peters in 1999, and has been experiencing exponential growth ever since. In 2016 the company was trading petroleum products to the value of over $11 billion. After acquiring an 85% stake in the OML 29 block from Shell for $2.56 billion, Aiteo Group also secured the potential to hold as much as 300 million cubic feet of gas and 2.2 billion barrels of oil.
A Vision of Development and Growth
The Aiteo Group continues to grow and expand into new ventures in order to diversify the power services and resources it offers the local and global community. Peters uses an integrated business expansion model to incorporate all aspects of the Agribusiness sector into the company's work, including mining, extraction, processing, production, manufacturing and marketing. New projects include Petroleum Exploration and Production and Power Generation and Distribution.
Benedict Peters is a family man. He is married to Ella Peters and has four children. Peters is passionate about business management. Besides being interested in travelling to other areas and developing new initiatives, he is also interested in exploring his religion and listening to uplifting gospel music.