President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately.
In a statement released by Bayo Onanuga, Special Adviser to the President, Mr. Sotinrin, who has extensive experience in both the private and public sectors, is expected to lead the bank, focusing on driving growth, innovation, and capital mobilisation in Nigeria’s agricultural sector.
Prior to this appointment, he served as the Group Chief Executive Officer of SAO Group, where his leadership saw groundbreaking achievements in the agribusiness sector. Under his guidance, SAO Agro, a leading agribusiness company, developed a 20,000-hectare oil palm plantation and undertook large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
In addition to his work in agribusiness, Mr. Sotinrin played a key role in raising over $750 million in infrastructure and development finance, including overseeing the landmark $200 million Akure Water Supply Project.
His work extended into the public sector, where he served as Special Adviser on Environment & Urban Development to the Minister of State for the Federal Capital Territory (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.
In announcing the appointment, President Tinubu highlighted Sotinrin’s ability to innovate and mobilize capital as key to enhancing Nigeria’s food security, sovereignty, and rural prosperity.
“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”, President Tinubu emphasised.
