President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately. The announcement was made through a statement issued by presidential spokesman, Bayo Onanuga, on Friday. Sotinrin, who brings a wealth of experience from both the private and public sectors, is tasked with driving the bank’s initiatives aimed at revitalizing Nigeria’s agricultural sector.
Before his appointment, Sotinrin served as the Group Chief Executive Officer of SAO Group, where he led significant agricultural projects, including a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State. His leadership at SAO Capital also saw the successful raising of over $750 million in development finance, including the notable $200 million Akure Water Supply Project.
Sotinrin’s career spans both the public and private sectors. He served as the Special Adviser on Environment & Urban Development to the Minister of State for the Federal Capital Territory between 2011 and 2015. Additionally, he has provided consultancy to major global development partners like the World Bank, AfDB, DFID, and USAID, and played key advisory roles in various federal and state-level projects. His extensive international experience includes roles at institutions such as the Royal Bank of Scotland International and Deutsche Bank.
The appointment of Sotinrin is aligned with President Tinubu’s vision to enhance Nigeria’s agricultural sector and ensure food security. Tinubu emphasized that Sotinrin’s expertise in capital mobilization, agribusiness innovation, and cross-sector collaboration will be pivotal in transforming the Bank of Agriculture into a vital force for rural prosperity and food sovereignty.