When Benedict Peters floated the idea of an indigenous oil company that would compete with established names from world superpowers, he was laughed out of town as someone who perhaps possessed more ambition than sense. Like a prophet without honour in his own home, he was jeered and scorned. Doors were shut, calls went untaken and his vision scoffed at as the product of too few hours of comfortable sleep.
Twenty years on, to say Benny Peters is laughing last would be both an understatement and an overstatement. Indeed, Aiteo Group has expanded in leaps and bounds beyond even its founder’s initial expectations. On the other hand, with more resources come bigger dreams. Already a giant by local standards, there is so much more to achieve for Peters, so many new terrains to conquer.
As the company celebrates twenty years of stellar service, clients rave endlessly about the world-class service delivery that has become a hallmark of Aiteo under Benny. Considered the largest indigenous oil-producing firm by output, Aiteo’s emergence has put concrete form to the abstract virtues of integrity, hard work, and an unassailable desire to turn accomplishing the impossible into a routine.
Nor, having reached pride of place in the comity of downstream oil sector giants, has Benny forgotten his roots or the tears and toils of the common man. The company has a robust corporate social responsibility strategy, best exemplified in sports. To recount the number of competitions it has sponsored or supported, especially in football, would be an exercise in extended genealogy. Suffice it to say Aiteo has become synonymous with conscientious profitability.
Aiteo is a full-spectrum, integrated energy company with services that span bulk petroleum products storage, marketing, and distribution of refined petroleum products, oilfield services, electricity generation, and distribution, LPG bulk storage and a fast-developing retail distribution network. It made a lasting splash when it built one of the largest storage depots this side of the Sahara.
Assets include petroleum storage facilities with a capacity of more than 320 million litres. This includes the Port Harcourt terminal with a capacity of over 110 million liters and the Apapa terminal with a capacity of approximately 210 million liters.