Aiteo Founder Benedict Peters Named 2018 FIN African Icon Of The Year

Benedict Peters, international business leader and founder of Aiteo Group, has been awarded the African Icon of the Year.

The award was presented at the Foreign Investment Network (FIN) and Federal Ministry of Petroleum Resources Honorary Patrons Dinner and Awards Night, which held at the Nigeria International Petroleum Summit, Abuja on Monday.

The award was presented as an “acknowledgement of Peters’ significant contribution to the oil and gas development in Africa, his visionary leadership, distinguished service and transformational disruption of a sector dominated by international oil companies”.

The award also acknowledged that “Aiteo Group’s 20-year evolution through Africa’s oil and gas sector has been exemplary as well as revolutionary — going from a downstream start-up to becoming a leading integrated energy conglomerate with strategic investments in hydrocarbon (or commodities) exploration and production.

Speaking at the award ceremony, Michael Dragoyevich, Chief Executive Officer of FIN, said: “Mr Peters has earned a unique honour to stand out among his peers as winner of the coveted FIN African Icon of the Year Award.”

Dedicating the award to all Aiteo employees worldwide, Peters said: “The award by FIN as its African Icon of the Year is awe-inspiring. It’s an honour to receive this type of recognition. Our modest efforts to provide Africa’s market places with top-quality energy solutions while being a reference point for indigenous capacity in oil and gas have clearly paid off, and we are proud of the fact that we continue to receive such prestigious distinction.”

Peters ventured into the oil and gas sector as an entrepreneur in 1999 and initially traded mainly in the downstream sector. In 2015, his company, Aiteo won the bid for the largest onshore oil block in sub-Saharan Africa. 

Beyond oil, Peter’s group has investments in mining, agriculture, infrastructure development, electricity generation and distribution,  with a fast-developing retail distribution network. 


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