President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. His appointment takes effect immediately as part of the government’s efforts to strengthen the agricultural sector.
Mr. Sotinrin has a vast background in both private and public sectors, making him a strong choice for the role. Before this appointment, he was the Group Chief Executive Officer of SAO Group. Under his leadership, SAO Agro led several large-scale agricultural projects, including a 20,000-hectare oil palm plantation and major poultry, aquaculture, maize, and cassava farms in Ondo State.
In addition to his work in agribusiness, Mr. Sotinrin has significant experience in raising funds for infrastructure and development projects. As the head of SAO Capital, he helped secure more than $750 million in financing, including $200 million for the Akure Water Supply Project.
His public sector experience includes serving as a Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015.
He has also worked as a consultant for global organizations such as the World Bank, the African Development Bank (AfDB), the Department for International Development (DFID), and the United States Agency for International Development (USAID).
Beyond Nigeria, Mr. Sotinrin has held roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency, giving him international experience in finance and development.
His academic qualifications include an Executive MBA from Oxford University’s Said Business School, a Master’s degree in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
President Tinubu notes that this appointment aligns with his administration’s plan to boost Nigeria’s agricultural industry.
“Mr Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty and rural prosperity,” President Tinubu noted.
