In a significant move aimed at revitalizing Nigeria’s agricultural sector, President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. The appointment, announced on Friday through a statement by presidential spokesman Bayo Onanuga, takes immediate effect.
A Trailblazer in Agribusiness and Development Finance
Mr. Sotinrin brings to the role a formidable blend of private and public sector experience, positioning him as a transformative figure in Nigeria’s journey toward food security and agricultural sustainability.
Prior to this appointment, Sotinrin served as Group Chief Executive Officer at SAO Group. Under his leadership, the agribusiness arm, SAO Agro, spearheaded groundbreaking agricultural ventures including the development of a 20,000-hectare oil palm plantation. The company also implemented large-scale poultry, aquaculture, maize, and cassava projects in Ondo State — setting benchmarks in agricultural innovation.
As the head of SAO Capital, he was instrumental in mobilizing over $750 million in infrastructure and development finance. Notably, he secured funding for the $200 million Akure Water Supply Project, a key initiative aimed at enhancing access to clean water in Nigeria.
A Broad Portfolio in the Public and Global Development Sectors
Sotinrin’s influence extends into the public sector, having served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory from 2011 to 2015. His expertise has also been tapped by major global development organizations such as the World Bank, African Development Bank (AfDB), UK Department for International Development (DFID), and the United States Agency for International Development (USAID), through advisory roles on numerous federal and state-level projects.
Internationally, he has held strategic roles at prestigious institutions including the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Strong Academic and Professional Credentials
Mr. Sotinrin holds an Executive MBA from Oxford University's Said Business School, a Master’s in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation, further underscoring the depth of his multidisciplinary expertise.
A Strategic Appointment for National Growth
President Tinubu has described the appointment as part of his administration’s broader vision to reposition agriculture as the cornerstone of Nigeria’s economic resilience.
“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 noted.
With his appointment, stakeholders across the agricultural and financial sectors anticipate a new era of reform and growth for the Bank of Agriculture — one that could accelerate Nigeria's path to becoming a food-secure nation.