On Friday, April 4, President Bola Ahmed Tinubu appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), effective immediately.
Sotinrin, who brings with him a wealth of experience in both the private and public sectors, is expected to play a key role in revitalising Nigeria’s agricultural landscape. Prior to this appointment, Sotinrin served as the Group Chief Executive Officer of SAO Group, where he led innovative initiatives in agribusiness. Notably, his leadership saw the development of a 20,000-hectare oil palm plantation and large-scale operations in poultry, aquaculture, maize, and cassava in Ondo State.
Additionally, Sotinrin was instrumental in raising over $750 million for infrastructure and development finance through SAO Capital, including the landmark $200 million Akure Water Supply Project. His background also includes significant public sector experience, having served as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015.
An internationally experienced professional, Sotinrin has consulted for prominent global development partners, including the World Bank, African Development Bank (AfDB), DFID, and USAID. He has also held key roles at institutions such as the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Sotinrin’s academic qualifications include 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.
President Tinubu expressed confidence in Sotinrin’s ability to lead the BOA, stating, “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.”
This appointment is in line with the Tinubu administration’s strategic push to enhance Nigeria’s agricultural sector and foster greater food security across the country.
