Benedict Peters - Founder and CEO

Benedict Peters was born and raised in Nigeria. He graduated from the University of Benin in 1989 with a degree in geography and urban planning, and immediately set out to launch his career. Mr. Peters' professional path includes experience in the commodity trading, banking and oil and energy industries. He has a passion for the environment and sustainable energy, and has co-founded two influential diversified oil and gas companies in Nigeria.

Early Career

Peters has nearly 30 years of experience in the oil and gas industry, where he has held a number of executive and senior management positions. In 1990 he co-founded Ocean and Oil, which was the largest privately-owned energy company in Nigeria and later became known as Oando. In 1994 he went on to serve as Managing Director at MRS Oil and Gas, a Nigerian petroleum company that currently owns Chevron/Texaco gas stations in West Africa.

Leaving MRS in 1999 to start his own business, in 2000 Benedict Peters founded Sigmund Cummenicci – a company that would focus on downstream oil and gas activities, beginning with tank farms. Sigmund Cummenicci's initial success was followed by a shakeup in the economic markets, leading Peters to restructure the business and in 2008 form the Aiteo Group. Mr. Peters maintained his position as CEO after the restructure. He oversees all company operations, growth and development as the company continues to diversify its holdings and increase its influence across the energy marketplace.

Professional Vision

Benedict Peters' aims to improve his country's infrastructure and economy by offering multifaceted power solutions that include mining, extraction, production, processing, manufacturing and marketing. His vision for the Aiteo Group is built on an integrated business approach that combines many aspects of the energy industry in order to provide an extensive solution and add value to the resources sector. Under Mr. Peters' leadership, Aiteo Group has created more than 11,000 job opportunities and continues to grow and expand into new fields.

Main Achievements

Benedict Peters is considered to be a pioneer in the oil and gas industry, and is frequently listed among Africa’s most successful corporate leaders. He was named 'CEO of the Year' in 2014 by Leadership Newspaper in Nigeria, in recognition of his contribution to enabling Nigeria to expand its control over its strategic oil assets.

Social Responsibility

Beyond the business world, Peters is involved in several community initiatives. In July, 2014, he founded the Joseph Agro Foundation, where he serves as Chairman. The Foundation is focused on improving the lives of farmers in rural regions, by giving them the tools they need to be economically successful. To this end, the Joseph Agro Foundation supports employment initiatives and projects that improve the school system in Nigeria, and also runs a number of awareness programs to promote responsible water consumption among farmers. Benedict Peters and the Aiteo Group have donated generously to the Adamawa State Emergency Management Agency to assist the state in dealing with the acute problem of Internally Displaced Persons in Nigeria. He is also Chairman of the Otuoke University Council, which supervises and monitors the University’s implementation of its strategic plan and executive policies.