Tinubu appoints Ayo Sotinrin as new Managing Director of Bank of Agriculture

President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, with the appointment taking effect immediately.

A statement issued on Friday by the President’s spokesman, Bayo Onanuga, highlighted Mr. Sotinrin’s extensive experience across both the private and public sectors.

Before this appointment, Sotinrin served as the Group Chief Executive Officer at SAO Group, where he led notable initiatives in the agribusiness sector.

These included the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.

He also spearheaded SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.

In the public sector, Sotinrin was the Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory from 2011 to 2015.

He has also consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played crucial advisory roles in federal and state-level projects.

His international experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Sotinrin holds an Executive MBA from Said Business School, Oxford University, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from Warwick University.

The statement emphasized that his appointment aligns with President Tinubu’s strategy to revitalize Nigeria’s agricultural sector.

President Tinubu praised Mr. Sotinrin’s proven leadership, stating: “Mr. Sotinrin’s proven ability to mobilize 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.”