President Bola Tinubu has announced the appointment of Ayo Sotinrin as the new managing director of the Bank of Agriculture. According to the presidency, the appointment of Sotinrin was with immediate effect.
The presidency further explained that the new appointee was coming with an extensive and diverse background because of his experience that cut across private and public sectors in the new role.
When did Tinubu appoint Sotinrin?
In a statement on Friday, April 4, signed by Bayo Onanuga, President Tinubu’s special adviser on information and strategy, Sotinrin had held the position of the group executive officer at SAO Group.
He explained that his leadership in the group led to the execution of groundbreaking agricultural initiatives, which included the development of a 20,000-hectare oil palm plantation and a large-scale poultry. The company also built aquaculture, maize, and cassava operations in Ondo state.
Sotinrin was said to have led SAO Capital in raising over $750 million in development finance and infrastructure. The success included the landmark $200 million Akure Water Supply Project.
Tinubu gives appointment to former FCT special adviser
The presidency further explained that Sotinrin also served as the special adviser on environment and urban development as the minister of state for the Federal Capital Territory (FCT) from 2011 to 2015.
He was said to have consulted extensively for global development agencies and partners, including the World Bank, USAID, DFID and AfDB. He also played advisory roles on federal and state-level projects. His international experience included the Royal Bank of Scotland International, the UK Environmental Agency and Deutsche Bank.
Speaking on his academic background, the presidency disclosed that 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.
Onanuga further added that Sotinrin’s appointment was in line with Tinubu’s administration’s plan to revive Nigeria’s agricultural sector. The appointment was announced a day after Tinubu traveled out of the country to France. The presidency had said that Tinubu traveled to France on a two-week working leave.
See the full statement here:
