Benedict Peters

Benedict Peters, born on December 5, 1966, in Abakaliki, Ebonyi State, Nigeria, is a prominent Nigerian entrepreneur renowned for his significant contributions to the oil and gas industry. As the founder and CEO of Aiteo Group, Peters has established himself as a key player in Africa’s energy sector. His journey from humble beginnings to becoming one of Nigeria’s wealthiest individuals is marked by strategic vision, resilience, and a commitment to excellence.

Early Life and Education

Peters hails from Onicha-Olona in Delta State. He spent his formative years in various parts of Nigeria, including Enugu, Benin, and Lagos, which provided him with a diverse cultural exposure. He completed his secondary education at Federal Government College, Enugu, before proceeding to the University of Benin, where he graduated in 1989 with a Bachelor of Science degree in Geography and Regional Planning, majoring in Geomorphology.

Professional Career

Peters began his business career in oil trading by working in various capacities for Ocean and Oil Services Limited and, subsequently, MRS Oil and Gas Limited. In 1999, at the age of 33, he founded Sigmund Communecci – a petroleum product supply and trading company, and built it into the single largest operator of tank farms in Nigeria.

In 2008, Sigmund Communecci was rebranded into Aiteo. Just six years later, in 2014, in its quest to become an integrated energy company, Aiteo acquired a controlling stake in Oil Mining Lease (OML) 29, containing 11 oil and gas fields, and the Nembe Creek Trunk Line (NCTL) in the Eastern Niger Delta, from Royal Dutch Shell Plc after a competitive bidding process.

Over the past nine years, Peters has transformed Aiteo into the largest indigenous oil-producing company in Africa, producing close to 100,000 barrels of oil per day and contributing over five percent of Nigeria’s daily oil production.

In November 2023, Aiteo recorded a historic milestone in the African oil and gas sector when it launched a new grade of crude called Nembe through a joint venture with the Nigerian National Petroleum Corporation (NNPC). Nembe has a low sulfur content and low carbon footprint due to flare gas elimination, which meets the required specifications of major buyers in Europe. The Nembe crude stream will be managed and marketed by a joint venture between NNPC and Aiteo Eastern E&P Co. Ltd. It is the first such crude marketing project solely run by Nigerian entities.

Benedict Peters is also the founder and CEO of Bravura Holdings, a vertically integrated mining company developing platinum, lithium, steel, copper, and gold assets across Africa, including Ghana, Nigeria, the Democratic Republic of Congo, Zimbabwe, Namibia, Mozambique, Côte d’Ivoire, Sierra Leone, Guinea-Bissau, Libya, Tanzania, and South Africa.

Personal Life and Philanthropy

Peters is married to Ella Peters, and together they have five children. He is a born-again Christian and a prominent financier of the gospel of Jesus Christ across the world. Alongside his wife, he manages several philanthropic organizations and initiatives aimed at strengthening rural communities, improving access to education in rural areas, and helping local communities use their water resources responsibly.

In 2014, Peters established the Joseph Agro Foundation, aiming to improve the livelihoods of farmers in rural communities by providing tools and resources for economic success. The foundation supports employment initiatives, educational projects, and promotes responsible water consumption among farmers. Additionally, Peters serves as the Chairman of the Otuoke University Council, overseeing the institution’s strategic implementation and policies.

Key Companies and Affiliations

• Aiteo Group (Founder & CEO)
• Bravura Holdings (Founder & CEO)
• Joseph Agro Industries & Foods (CEO)
• IS45 (Founder)
• Joseph Agro Foundation (Founder)
• Benedict & Ella Peters Foundation (Co-Founder)

Professional History

• Aiteo (1999-Present) – Largest indigenous oil-producing company in Nigeria.
• Bravura Holdings (Present) – Major player in African mining, dealing in platinum, copper, steel, lithium, and gold.
• MRS Oil and Gas (1994-1999) – Managing Director.
• Ocean and Oil Services Limited (1990-1994) – Founding Member.
• Federal University Otuoke – Chairman, responsible for macro policies and strategic leadership.

Awards and Recognitions

• 2023: African Philanthropist Award.
• 2019: Man of the Year by Business Day Newspaper.
• 2018: Oil and Gas CEO of the Year by The Guardian Newspaper.
• 2015: Dr. Martin Luther King Jr. Awards Laureate.
• 2014: Marquee Award for Global Business Excellence.
• 2014: CEO of the Year by Leadership Newspaper.

Controversies and Legal Challenges

Peters has faced legal challenges, including being named in indictments related to alleged criminal conspiracies involving former Nigerian officials. He has consistently denied any wrongdoing, attributing the allegations to unsubstantiated personal and corporate vendettas by rivals.

Associations with Igbo Personalities

Throughout his career, Peters has collaborated with various individuals of Igbo descent in the oil and gas industry. Notably, he worked with Emeka Offor, another prominent Igbo businessman, in oil trading ventures during the early stages of his career. Additionally, his philanthropic initiatives have seen partnerships with Igbo leaders to promote education and economic development in Eastern Nigeria.

Conclusion

Benedict Peters’ journey from his early days in Ebonyi State to becoming a leading figure in Africa’s energy sector exemplifies determination and strategic foresight. Despite facing challenges, his contributions to Nigeria’s economic development and his philanthropic endeavors have left an indelible mark on the nation’s landscape.

Nairametrics. (2021, July 11). Benedict Peters: What you should know about the Nigerian oil and gas billionaire. Retrieved from

Peters Family Group. (n.d.). Benedict Peters, Founder & CEO, Aiteo. Retrieved from

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