President Bola Tinubu has approved the appointment of Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. The appointment, which takes immediate effect, was announced on Friday through a statement issued by presidential spokesperson, Bayo Onanuga.
According to the statement, the move is 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 stated.
Mr. Sotinrin brings a rich blend of experience from both the private and public sectors. Prior to this appointment, he served as the Group CEO of SAO Group. At SAO Agro, he led pioneering agricultural projects, including the development of a 20,000-hectare oil palm plantation, along with large-scale operations in poultry, aquaculture, maize, and cassava in Ondo State.
He also headed SAO Capital, where he facilitated the raising of over $750 million in infrastructure and development financing. Notably, he led the $200 million Akure Water Supply Project.
In the public sector, 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.
Mr. Sotinrin has also consulted widely for international development organisations such as the World Bank, African Development Bank, DFID, and USAID. His global experience includes previous roles at Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
He holds an Executive MBA from Oxford University’s Saïd Business School, a Master’s degree in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
