By PRESIDENT Bola Tinubu has appointed Mr Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, a move aimed at strengthening Nigeria’s agricultural sector.
Mr Sotinrin, an experienced leader in both the private and public sectors, assumes his new role with immediate effect.
His appointment aligns with the administration’s commitment to revitalising the agricultural sector and ensuring food security.
Prior to this appointment, Mr Sotinrin served as Group Chief Executive Officer of SAO Group.
Under his leadership, SAO Agro spearheaded major agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
He also led SAO Capital, successfully raising over $750 million in infrastructure and development financing, including the notable $200 million Akure Water Supply Project.
In addition to his private-sector achievements, Mr Sotinrin has a strong background in public service.
He served as 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 provided consultancy services to international development agencies, including the World Bank, African Development Bank (AfDB), the UK’s Department for International Development (DFID), and the United States Agency for International Development (USAID).
His international experience extends to roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, he holds an Executive MBA from Saïd Business School, University of Oxford, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from the University of Warwick.
President Tinubu expressed confidence in Mr Sotinrin’s ability to drive the transformation of the Bank of Agriculture.
“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,” he stated.
According to Bayo Onanuga, senior media aide to the president, with this appointment, the Tinubu administration signals its commitment to leveraging expertise and innovation to enhance agricultural productivity and economic growth across Nigeria.
What's your reaction?
