President Bola Tinubu has officially appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture.
The announcement was made in a statement by Tinubu’s media aide, Bayo Onanuga, who confirmed that the appointment takes immediate effect.
Onanuga highlighted Sotinrin’s broad experience across both private and public sectors, bringing a wealth of expertise to his new leadership role.
Prior to his appointment, Sotinrin served as Group Chief Executive Officer at SAO Group. During his tenure at SAO Agro, he led transformative agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale operations in poultry, aquaculture, maize, and cassava farming in Ondo State.
He also headed SAO Capital, where he successfully raised over $750 million in infrastructure and development funding. This included the landmark $200 million Akure Water Supply Project.
In the public sector, Sotinrin held the role of Special Adviser (Environment & Urban Development) to the Minister of State for the FCT between 2011 and 2015.
His extensive consulting work with global development agencies such as the World Bank, AfDB, DFID, and USAID has seen him offer strategic advisory support for various federal and state projects. Internationally, he has worked with the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Sotinrin’s academic credentials include an Executive MBA from Saïd Business School, University of Oxford, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from Warwick University.
According to Onanuga, Sotinrin’s appointment aligns with the Tinubu administration’s vision to revitalize Nigeria’s agricultural sector.
“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 statement said.