Peters was born in Sabon Gari, Kaduna, Northern Nigeria and is the second of eight children. His parents are Lawrence Adagba and Comfort Peters. He is of Afemai descent and hails from Ososo in the Akoko Edo local government area of Edo State.

Peters began his formal education at St. Gregory Primary School in Kaduna. He attended the University of Jos Nigeria, where he studied Geology and Mining. Peters began his career as an actor in Nigeria in the 1998 movie Mama Sunday, and went on to play the role of Paul in 2002 in the daytime series Everyday People created by Tajudeen Adepetu. In 2004 he relocated to the US, where he enrolled for a certificate degree in Visual Storytelling hosted by New York University. Peters was then associated with Film Career Connection in Atlanta, which offered him on-the-job training on various film sets across the US. He also enlisted with REDucation a real world training on Red camera and equipment, taught by working professionals, for current and future working professionals.

Peters began working as a cinematographer and film editor in 2006 and worked on a number of African-American Productions.

In 2014, it was reported that the comedy film, 30 Days in Atlanta, directed by Peters, was the highest-grossing film of all time at the Nigerian box office. The movie was also featured in the 2017 Guinness Book of Records as one of the films with the highest domestic gross in the territories of Bollywood, Nollywood and Hollywood, listed alongside PK (from Bollywood) and Star Wars: The Force Awakens (from Hollywood).

Peters is married to Deborah Peters and they have a son Zachary Lawrence Onafa-Orafa Peters. They own and run Whitestone Pictures LLC, a film production studio and equipment provider based in Lawrenceville, Georgia.

Wọ́n bí Peter sí ìlú Gari, ní Ìpínlẹ̀ Kàdúná, apá Àríwá ní orílẹ̀-èdè Nàìjíríà. Ó jẹ́ ọmọ-àbíṣìkejì láàrin àwọn ọmọ mẹ́jọ tí àwọn òbí rẹ̀ bí. Àwọn òbí rẹ̀, Lawrence Adagba àti Comfort Peters wá láti ìlú Ososo, ní Akoko Edo, ní Ìpínlẹ̀ Ẹdó.

Peter bẹ̀rẹ̀ ilé-ìwé alákọ̀ọ́bẹ̀rẹ̀ ní St. Gregory Primary School, ní Ìpínlẹ̀ Kàdúná, ibẹ̀ sì ni ó ti parí ẹ̀kọ́ girama rẹ̀. Ó sì lọ sí ilé-ìwé gíga, Yunifásítì ìlú Jos tí ó wà ní ipinle Jos, níbi tí ó ti kọ́ ẹ̀kọ́ nípa Geology and Mining. Peters bẹ̀rẹ̀ iṣẹ́ rẹ̀ gẹ́gẹ́ bíi òṣèré fíìmù àgbéléwò ní ọdún 1998 níbi tí ó ti kópa nínú fíìmù Mama Sunday, lẹ́yìn náà, ó kópa nínú fíìmù kan tí wọ́n máa ń ṣe àfihàn rẹ̀ lórí ẹ̀rọ̀ amóhùn-máwòrán lójoojúmọ́, tí àkọ́lé rẹ̀ ń jẹ́ Everyday People, tí Tajudeen Adepetu gbé jáde. Ní ọdún 2004, ó kó kúrò lórílẹ̀-èdè Naijiria láti lọ sí òkè-òkun, ní U.S, níbi tí ó ti gboyè nínú Visual Storytelling, ní New York University. Lẹ́yìn náà, Peters dara pọ̀ mọ́ àwọn òṣèré ní ìlú Atlanta, ibẹ̀ sì ni ó ti rí iṣẹ́ láti máa kọ́ nípa bí a ṣe ń darí fíìmù àgbéléwò. Wọ́n tún mú u ní REDucation, ibí sì ni àwon akọ́ṣẹ́mọṣẹ́ ti fún un lẹ́kọ̀ọ́ tó kójú òṣùwọ̀n nípa bí a ṣe ń ya eré lóríṣiríṣi àti bí a ṣe ń lo àwọn ohun èlò kámẹ́rà láti fi yàwòrán dáadáa, tí ó sì kọ́ṣẹ́mọṣẹ́.

Peters bẹ̀rẹ̀ iṣé rẹ̀ gẹ́gẹ́ bíi olóòtú àti ayàwòrán àti fọ́rán fún fíìmù àgbélewò ní pẹrẹu lọ́dún 2006, ó sì ṣiṣẹ́ lórí ọ̀pọ̀lọpọ̀ eré tí wọ́n ṣe nílẹ̀ Afirika àti Amerika.

Ní ọdún 2014, ìròyìn jẹ́ ka mọ̀ pé fíìmù àgbéléwò kan tí Peters jẹ́ olùdarí fún, tí àkọ́lé rẹ̀ ń jẹ́ 30 Days in Atlanta ló jèrè owó tó pọ̀ jù lọ. Ó sì di àkọsílẹ̀ lọ́dọ àwọn Guiness Book of Records pé fíìmù ọ̀hún ló jèrè owó tó pọ̀ jù lọ láàrin àwọn fíìmù orílẹ̀-èdè Naijiria, India àti Amerika.