Benedict Peters

Benedict Peters

Founder and CEO - Aiteo Group

Oil and Gas

About Me

Benedict Peters is a Nigerian entrepreneur and businessman with extensive roots in the international oil, gas and sustainable energy development industry.

He was born in Nigeria in 1966, attended Federal Government College in the city of Enugu and received his Bachelors' degree in Geography and Urban Planning from the University of Benin in 1989. He is married to Ella Peters and the father of four children.

Business Success

Following graduation from college, Peters began building his career. Over the last two decades he has gained extensive experience and held senior positions in banking, commodity trading and oil & gas companies. Thanks to the diversity of his experience he has established a profound understanding of the energy industry and its different sectors and has the knowledge needed in order to develop the necessary capital resources.

Benedict Peters began what would become his life’s work in the early nineties, as one of the founding members of the Ocean and Oil Company. Ocean and Oil, which was later renamed Oando, was a publicly traded, vertically integrated petroleum company in the downstream sector. Only four year later, in 1994, Peters became managing director of MRS Oil and Gas Limited, a Nigerian petroleum company.

It was an auspicious beginning, but Peters had even greater plans. He left MRS in 1999 and a year later formed the Aiteo Group (previously known as Sigmund Cummenicci), which would become engaged in the upstream sector of the industry as well as the downstream sector. His young company gradually grew and developed into one of West Africa’s principal, vertically integrated global energy corporations. Aiteo Group has become a multi-billion-dollar global operation that employs more than 10 thousand people and trades over $11 billion in petroleum products.

Utilizing his well-honed strategic skills, Peters continues to diversify and invest in initiatives that strengthen the performance of the Group. He has purchased power generating companies in Nigeria, and has expanded the company’s operations to include: petroleum exploration and production, power generation and distribution, and full-scale manufacturing and marketing of petroleum products across all sectors of the Agribusiness industry. He aims to further develop Aiteo, increase its value and enhance its participation in the energy industry by following a diversified and integrated business model that includes all aspects of the energy production process, from extraction to delivery.

Boards and Foundations

In July, 2014, Benedict Peters founded the Joseph Agro Foundation, where he serves as Chairman. The mission of the Foundation is to improve the well-being of farmers in rural communities through education, training and development of employment opportunities. Additionally, recognizing the fragile state of water resources, the Foundation engages in public education about the sustainable use of water.

Peters has served as Chairman of the Board of Directors of Otuoke University since January, 2012. In this capacity, he leads the strategic visioning process and manages implementation of the University’s goals and objectives.

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