President Bola Ahmed Tinubu of Nigeria has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. The announcement was made in a statement released on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Mr. Sotinrin brings a wealth of experience from both the private and public sectors to his new role. Before his appointment, he served as the Group Chief Executive Officer of SAO Group, where he led major agribusiness ventures such as a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava projects in Ondo State.
He also spearheaded SAO Capital’s efforts in raising over $750 million in development finance, including the notable $200 million Akure Water Supply Project.
In the public sector, Sotinrin previously served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory between 2011 and 2015. He has also consulted extensively for international development organizations such as the World Bank, African Development Bank (AfDB), DFID, and USAID.
His international career includes experience at top institutions like the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, Mr. Sotinrin holds an Executive MBA from Oxford University’s Said Business School, a Master’s in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
President Tinubu described his appointment as part of the administration’s broader strategy to revitalise Nigeria’s agricultural sector. “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,” the president said.
Sotinrin’s appointment is expected to signal a new chapter in the Bank of Agriculture’s role in supporting rural development and transforming Nigeria’s food production landscape.
