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AITEO’s Ben Peters Pays $202m Debt To NNPC For Under-Delivering Fuel… As Ben Peters Adopts Low Profile!

Published

7 years ago

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Life is all about the changes it brings to an individual. It can change from being a bed of roses to being a path of thorns and vice versa.

 

Once upon a time, Benny Peters’ name easily pops up on the list of the movers and shakers of the Nigerian oil sector. He commanded affluence and his name caused doors of opportunities to swing wide open. But his reign as one of the princes of the oil and gas business came to a screeching halt when former President Goodluck Jonathan bowed out of office and President Muhammadu Buhari took over.

 

Since President Buhari became the President of Nigeria, many of the numerous oil barons the Nigerian oil and gas sector once boasted seem to have faded off the socio-economic scene. One of the big boys in the oil and gas sector and boss of Aieto Energy, Benny Peters, has become quite scarce. He seems to have abandoned fame to embrace anonymity.

Back to the main reason for this publication.

 

The Nigerian National Petroleum Corporation (NNPC) says AITEO group, headed by one of Nigeria’s silent billionaires, Benedict Peters  has paid up its debt.

NNPC  Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, announced this  in Abuja on Monday.

AITEO Energy Resource Limited  was one of the three companies the NNPC said were involved in the under-delivery of petroleum products to the corporation,

According to Ughamadu, the update is in line with the corporation’s pledge to provide members of the public with periodic information on its recovery efforts for crude swap under deliveries.

The NNPC had raised an alarm that AITEO, Taleveras Group of Companies and Ontario Oil and Gas owed 184 million dollars in crude swap under-deliveries.

”Following extensive reconciliation between both parties across their business transactions and subsequent agreement by the parties therefrom, the corporation wishes to state that AITEO Group has paid in full all its outstanding indebtedness to our downstream entities amounting to $202.34 million dollars

”The amount includes AITEO’s share of the 184 million dollars total indebtedness by three companies on crude swap obligations plus AITEO’s other downstream liabilities.

”It would be recalled that following its engagement with the NNPC on the issue, AITEO Group has demonstrated cooperation and commitment towards a successful recovery process,” Ughamadu said.

Taleveras had pledged to make a tranche payment of 17.2 million dollars but the NNPC was still engaging Ontario Oil & Gas Limited for mutual settlement.

”The corporation shall continue to provide further update on the recovery process,” Ughamadu said.

 

 

 

 

Additional report from The elites

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Lagos Takes a Giant Leap Towards a Cleaner, Greener Future with Proper Waste Disposal Bins

Published

23 hours ago

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December 11, 2024

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Join the Movement to Build a Culture of Proper Waste Segregation and Disposal in Lagos. 

 

As part of its efforts to promote a cleaner, greener, and healthier environment, The Architects Place Ltd In conjunction with the Ministry of Environment and Water Resources has launched an initiative to provide proper waste disposal bins across the state.

 

The initiative, which is aimed at building a culture of proper waste segregation and disposal, is designed to encourage residents, businesses, and institutions to properly dispose their waste and recyclables.

The proper waste disposal bins, which are designed to accommodate different types of waste, including recyclables, organics, and non-recyclable waste, will be strategically located in public spaces, markets, and other high-traffic areas.

 

This will help to reduce the amount of waste that ends up in landfills and waterways, improving environmental health and reducing the risk of disease. By providing separate bins for recyclables, the initiative will encourage residents and businesses to recycle more, reducing waste and conserving natural resources.

 

We urge all residents, businesses, and institutions in Lagos to join us in this effort to build a culture of proper waste segregation and disposal. Together, we can make a difference and create a cleaner, greener, and healthier environment for all.

 

For more information on the proper waste disposal bin initiative, please contact:

 

Ministry of Environment & Water Resources, Alausa Lagos State.

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News and Report

National Grid Collapses 12th Time In 2024

Published

23 hours ago

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December 11, 2024

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Nigerians were left in darkness on Wednesday following yet another collapse of the national power grid.

 

Since January 2024, the grid has collapsed 11 times.

 

 

In just one week in October, the grid failed three times, causing widespread blackouts and prompting reactions from Nigerians

 

 

A tweet from Nigeria’s National Grid official handle confirmed the collapse at approximately 2:09 pm on Wednesday.

 

“The major grid setback has occurred and the restoration is to commence,” the tweet stated.

 

 

 

 

More to come…

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News and Report

Just In: Abuja High Court Denies Yahaya Bello’s Bail Request…..

Published

2 days ago

on

December 10, 2024

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A High Court of the Federal Capital Territory (FCT) in Maitama has rejected the bail request by former Kogi State Governor, Yahaya Bello.

 

Bello is standing trial, along with two others, on an alleged N110bn money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).

 

Justice Maryanne Anenih, in a ruling on Tuesday, faulted the competence of Bello’s bail application, stating that it was filed prematurely.

 

Justice Anenih held that, since the application was made when Bello was neither in custody nor before the court, it was deemed incompetent.

 

She said: “Consequently, the instant application, having been filed prematurely, is hereby refused.”

 

 

 

More to come…

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