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Billionaire African energy mogul Benedict Peters has left an indelible mark on the business landscape on the continent, solidifying his position as one of Africa’s most affluent people. His extraordinary achievements can be traced to his extensive interests in oil and mining.
Peters’ journey as a business magnate in Africa is a testament to his determination and exceptional leadership and management skills, honed during his tenure at Ocean and Oil Services Limited and MRS Oil and Gas Limited from 1990 to 1999. This period played a pivotal role in shaping his career and laying the foundation for his future endeavors.
In 1999, he embarked on his entrepreneurial voyage by establishing Sigmund Communecci, a venture that rapidly evolved into Nigeria’s largest tank farm operator.
Recognizing the need for growth and evolution, Peters orchestrated a rebranding effort in 2008, giving rise to the entity we now recognize as Aiteo Group.
This strategic move positioned Peters to secure a controlling stake in the coveted Oil Mining Lease (OML) 29 in 2014, further solidifying his stature in the oil and gas industry.
Peters’ ascendancy in African business has not gone unnoticed, earning him awards and accolades that bear witness to his remarkable accomplishments.
In November 2014, Peters’ net worth skyrocketed to an astonishing $2.7 billion, firmly establishing him as one of Africa’s wealthiest individuals.
Peters wields considerable influence at the helm of Aiteo Group and Bravura Holdings, with investments spanning multiple African countries. Not only is he a successful business magnate, but he also distinguishes himself as one of the continent’s leading philanthropists. His charitable endeavors are focused on rural community development, enhancing access to education, and championing responsible water resource management.
Billionaires.Africa has identified and tracked seven notable assets owned by Peters:
Aiteo Group stands as Nigeria’s foremost independent oil producer, holding a significant 45-percent share in OML Lease 29, in partnership with the state-owned Nigerian National Petroleum Corporation. The industry giant presently extracts approximately 90,000 barrels of oil daily. Peters, the visionary businessman, laid the foundation for his empire in 1999 with the establishment of Sigmund Communecci, a pioneering petroleum trading company that evolved into Nigeria’s premier operator of petroleum storage facilities. Aiteo Group is a natural successor to this endeavor. Additionally, Aiteo has ventured into the power generation sector through Aiteo Power, with a particular focus on the resource-rich Niger Delta basin, aiming to extend accessible electrical energy to millions across Africa.
- Aiteo Exploration and Production Company
Aiteo Exploration and Production Company takes center stage as Nigeria’s foremost indigenous oil exploration entity, dedicated to the development and management of upstream oil and gas assets in Nigeria and the Gulf of Guinea. Boasting a daily production exceeding 90,000 barrels, Aiteo is actively exploring opportunities in key basins such as the Niger Delta and Benue Trough. Peters’ strategic vision encompasses investments in development and production assets, ensuring early cash flow and the potential for substantial hydrocarbon reserves. Collaborations with global exploration and production companies solidify Aiteo’s position as a key player in the industry.
In a visionary move to diversify Aiteo Group’s portfolio, Peters founded Aiteo Power, solidifying the company’s presence as a prominent player in the power generation industry. The primary areas of exploration are within the resource-rich Niger Delta basin, rich in natural gas deposits. Aiteo Power’s mission extends beyond borders, with plans to connect more than 7.6 million Nigerians to an expansive power grid and ambitions to expand its reach to other African nations, thus delivering the benefits of accessible electrical energy to countless more.
- Bravura Holdings
Expanding beyond his oil assets and investments, Peters has ventured into the mining sector through his brainchild, Bravura Holdings Ltd. At the heart of this endeavor is the development of a billion-dollar platinum mine in Zimbabwe. Bravura Holdings is a vertically integrated mining company actively engaged in the development of gold, copper, lithium, and steel assets across Africa, including Ghana, the Democratic Republic of Congo, Zambia, Nigeria, Zimbabwe, Namibia, and South Africa. The company’s acquisition of a substantial concession near Harare signifies its commitment to the growth of the African mining industry.
- Aiteo Aviation Services
Peters’ visionary approach extended to the aviation industry with the incorporation of Aiteo Aviation Services in 2015. This private aviation company, headquartered in the federal capital territory, operates a fleet of aircraft and airlines. It plays a pivotal role in supporting field operations, facilitating efficient crew changes, and ensuring seamless movement within and around the company’s operational areas.
The Benedict & Ella Peters Foundation operates as a non-profit organization dedicated to championing the rights and well-being of underprivileged individuals and communities across Africa. With a special focus on less-privileged children and marginalized communities, the foundation tirelessly works towards enhancing their quality of life and empowering them to make informed choices. Collaborating with like-minded individuals, this foundation is committed to fostering positive change within African communities.
Joseph Agro Industries & Foods, a prominent agro-allied company, counts Peters among its strategic investors. The company specializes in large-scale farm development, food commodity production, processing, storage, logistics, marketing, and distribution. It holds the distinction of being one of West Africa’s leading producers of grains, fruits, and vegetables. Notably, Joseph Agro Industries recently revitalized the once-abandoned Omor Mill, Nigeria’s and West Africa’s largest rice mill. This transformation was achieved through a Public-Private Partnership (PPP) scheme with Anambra, boasting an impressive input capacity of 75,000 metric tonnes of paddy and an output capacity of 50,000 metric tonnes.
