Tayo Busayo, Abuja
DAILY COURIER — In a move aimed at energising Nigeria’s agricultural sector and enhancing food security, President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. The appointment takes immediate effect, according to a statement issued on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
Mr. Sotinrin, a seasoned professional with a rich blend of experience in the private and public sectors, is expected to bring transformational leadership to the apex agricultural financial institution. His appointment aligns with the Tinubu administration’s broader strategy to revamp Nigeria’s agricultural landscape, boost food production, and promote rural economic development.
Before this appointment, Sotinrin served as the Group Chief Executive Officer of SAO Group, where he oversaw various agribusiness initiatives under SAO Agro. Notably, he led the development of a massive 20,000-hectare oil palm plantation in Ondo State, alongside extensive operations in poultry, aquaculture, maize, and cassava production.
Sotinrin’s financial acumen is also notable. Under SAO Capital, he successfully mobilised over $750 million in infrastructure and development finance. This includes the high-profile $200 million Akure Water Supply Project, which earned praise for its impact and sustainability model.
On the public service front, he served as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory between 2011 and 2015. In addition, he has been a trusted consultant for major global development partners such as the World Bank, African Development Bank (AfDB), the UK’s Department for International Development (DFID), and the United States Agency for International Development (USAID). His strategic advice has influenced numerous projects at both federal and state levels.
Mr. Sotinrin also brings significant international experience, having worked with renowned institutions including the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
An alumnus of Oxford University’s Said Business School, he holds an Executive MBA, an Advanced Diploma in Environmental Conservation, and a Master’s degree in Engineering Business Management from the University of Warwick.
President Tinubu expressed strong confidence in Sotinrin’s capacity to reposition the Bank of Agriculture as a central driver of food sufficiency and rural development.
“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 said.
With this appointment, expectations are high that the Bank of Agriculture will undergo strategic reforms under Sotinrin’s leadership, aimed at improving access to credit for farmers, fostering value chain development, and supporting the administration’s economic diversification agenda.
