Super Entrepreneur, Benedict Peters, Is Business Person Of The Year

Benedict Peters, initially known for founding Aiteo, has significantly contributed to the corporate landscape and social welfare, earning him respect and admiration across Africa and beyond. For these reasons and more, he is the choice of LEADERSHIP Newspapers as Business Person of the Year.

He also established Bravura, Africa’s leading emerging indigenous mining giant. Under his leadership, both conglomerates have earned unique distinctions through a special blend of commitment to sustainable practices and innovation in their respective sectors.

His accomplishments in imprinting both entities’ footprint and visibility have become legendary, leading to a diversified portfolio that includes oil and mining companies. His journey is a tale of entrepreneurial success and a testament to the power and impact of defining innovation coupled with the confidence to implement and execute.

Peters’ business acumen is characterised by his ability to identify opportunities where others see challenges. His approach to leadership is grounded in a clear vision that transcends mere profitability; he seeks to create long-term value that benefits not only stakeholders but also the communities in which his companies operate. This dual focus is evident in his strategic decisions, which prioritise environmental sustainability, social responsibility, and operational efficiency.         This approach has enabled him to effectively navigate the complexities of the oil and mining sectors, recognising the potential for growth amidst volatility. Peters understands that in an era of increasing demand from ever-changing technological developments and high scrutiny on environmental impact, businesses must adapt to new expectations. His commitment to operational excellence is evident in his insistence on continuous improvement and innovation, reinforcing a culture that values adaptability and resilience.

To better appreciate his accomplishments, some personal historical context is essential.  In summary, though operating with a low-profile attitude, Peters is a foremost indigenous oil and gas sector player, operating in his own right since 1999. In time, Aiteo moved from a downstream start-up to a leading energy conglomerate with investments in hydrocarbon exploration and production. This entity has now morphed into Africa’s leading independent indigenous oil producer.  From the pervading adversity of crude theft and illegal refining that adversely impacted oil production in Nigeria, Peters astutely masterminded the introduction of the “Nembe Crude blend” into the market.  A first in the industry by an indigenous entity, it is a pioneering milestone in the global energy landscape. Aiteo became the first indigenous African company to name its unique blend of light crude oil. This signifies a historic juncture where home-grown expertise and visionary leadership produced a true game-changer within Africa’s robust energy sector. It is essential to state that this crude grade boasts premium qualities and uniqueness as a light crude.  Its emergence was the product of the conception and introduction of an alternative evacuation route that was achieved with the collaboration with NNPC, which resulted in crude oil being transported from an entirely different route utilising a third-party alternative evacuation system comprising infield processing and storage, crude transportation and terminal storage.  Aiteo’s plans to invest heavily in acquiring additional offshore assets, with a projected total output of 250,000 bpd in the short to medium term, are considerable and will entail a commitment of billions of dollars, which will significantly impact the country’s overall revenue aside from its effect on job creation and other economic benefits.

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Peters and 25 other distinguished individuals and organisations who have made exceptional contributions to governance, business, social impact, and public service in Nigeria were nominated by the LEADERSHIP Newspapers’ board of editors after extensive deliberations at a meeting held in November 2024 at the company’s headquarters in Abuja.

Peters and other nominees will be celebrated for their outstanding leadership, vision, and commitment to national development at the LEADERSHIP Conference and Awards ceremony next year.

Alhaji Aliko Mohammad Dangote, Nigeria’s foremost industrialist and philanthropist, won the Person Of The Year Award for immensely contributing to the nation’s economy. His philanthropic efforts make him a deserving recipient of this highest honour.

Minister of the Federal Capital Territory (FCT), Barrister Nyesom Ezenwo Wike, won the 2024 Quinquennial Award For Governance and Infrastructure, a rare recognition by the LEADERSHIP Group Limited.

Also, for 2024, six state governors were jointly nominated for the governor of the Year award. They are Abba Kabir Yusuf of Kano State, Bala Mohammed of Bauchi, Pastor Umo Bassey Eno of Akwa Ibom, Mallam Umar A. Namadi of Jigawa State, Peter Mbah of Enugu State, and Ademola Nurudeen Jackson Adeleke of Osun State.

The governors were recognised for driving sustainable growth, infrastructural development, and policy innovations in their respective states.

Dame (Dr) Adaora Umeoji, GMD/CEO of Zenith Bank Plc, clinched the Banker of the Year award for her role in transforming the banking industry.

Alhaji Bashir Adewale Adeniyi (MFR), Comptroller-General of Customs, emerged as the Public Service Person of the Year for his exceptional leadership in improving the efficiency of Nigeria’s Customs Service (NCS).

Other remarkable business leaders, including the CEO of NORD Automobiles Ltd, Oluwatobi Ajayi, won the CEO of the Year award for the Private Sector) while Bamanga Usman Jada, MD/CEO of the Oil & Gas Free Zone Authority, clinched the CEO of the Year award for the Public Sector.

AVSATEL Communications Limited won the Company of the Year award in other award categories, while ARCO Engineering Limited is the Oil & Gas Local Content Champion of the Year.

The Social Impact Person of the Year award will be presented to Olori Ivie Atuwatse III for her tireless efforts in championing education and healthcare initiatives. OPAY won the Fintech Company of the Year award for promoting financial inclusion in Nigeria. At the same time, Alternative Bank clinched the Most Innovative Bank of the Year award for its pioneering work in digital banking.

Minister of Environment Balarabe Abbas Lawal will be honoured as Environmental Impact Person of the Year for his leadership in advancing environmental policies and addressing climate change.

The Outstanding Young Person of the Year 2024 award will go to the ENACTUS team from Joseph Sarwuan Tarka University, Makurdi. They are recognised for championing innovation and sustainability. Terra Cube will receive the Product of the Year award for its innovative solutions in sustainable living.