President Bola Tinubu has appointed a former Chief Executive Officer at SAO Group, Ayo Sotinrin, as the new Managing Director of the Bank of Agriculture.
Naija News reports that the Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement on Friday, April 4, 2025.
Tinubu stated that Sotinrin brings a diverse and extensive private and public sector background to his new role.
President Tinubu emphasised that 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 statement added, “Before this appointment, he held the position of Group Chief Executive Officer at SAO Group. His leadership at SAO Agro, an agribusiness company, was marked by groundbreaking agricultural initiatives, including developing a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
“He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.
“In the public sector, he served as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015. He has consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects.
“His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency. Mr. 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.
“Mr Sotinrin’s appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.”
