President Bola Ahmed Tinubu has named Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture.
The announcement was made on Friday through a statement by presidential spokesperson, Bayo Onanuga.
According to the statement, Mr. Sotinrin brings wide experience from both the private and public sectors. He was most recently the Group CEO of SAO Group, where he led several key agricultural projects. These included a 20,000-hectare oil palm plantation, as well as major operations in poultry, fish farming, maize, and cassava in Ondo State.
He also headed SAO Capital, helping to raise over $750 million in funding for development projects. One of the most notable projects under his leadership was the $200 million Akure Water Supply Project.
In the public sector, Mr. Sotinrin 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 worked closely with global partners such as the World Bank, African Development Bank (AfDB), DFID, and USAID. His international experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Mr. Sotinrin holds an Executive MBA from Oxford University’s Said Business School, a Master’s degree in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
His appointment is part of President Tinubu’s efforts to boost Nigeria’s agricultural industry, the statement emphasized.
“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 was quoted as saying.
The appointment takes effect immediately.
