FIN Awardee: Benedict Peters, Executive Vice Chairman, Aiteo Group

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Benedict Peters, Executive Vice Chairman, Aiteo Group

Benedict Peters is the founder the Aiteo Group, which has interests’ primarily in energy and is the largest indigenous oil producing firm in Nigeria by output.

Peters hails from Onicha Oloma in Delta state and was born in Abakaliki, Ebonyi State to a banker and a homemaker. He attended Ekulu Primary School, Enugu; and Federal Government College Enugu, after which he proceeded to University of Benin, where he obtained a Bachelor of Science (B.Sc) Hons degree in Geography and Town Planning.

Peters began his career in the oil and gas industry in the early 1990s, working with the founders of Ocean and Oil, the entity now known as Oando Nigeria Plc,. He moved to MRS Oil Nigeria PLC as Group Executive Director, ending as its Managing Director, before leaving in 1999 to establish Sigmund Communecci.

In February 2008, Peters founded the Aiteo group (Aiteo Eastern Exploration and Production Company Limited), the successor entity to Sigmund Communecci. The company owns one of the largest petroleum tank farms in Nigeria with facilities in excess of over 250 million litres on over 100,000 square meters of landmass. It also owns and operates the Abonnema Storage Terminal.

In 2014, Aiteo acquired a controlling stake in Oil Mining Lease (OML) 29 and the Nembe Creek Trunk Line (NCTL) in the Eastern Niger Delta from Royal Dutch Shell Plc.

In April 2017, Aiteo Group announced the signing of a five-year partnership agreement with the Nigeria Football Federation worth an estimated N2.9b

 

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