President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), reinforcing his administration’s commitment to revitalizing Nigeria’s agricultural sector.
The appointment was confirmed on Friday, April 4, 2025, in a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
A seasoned finance and agribusiness expert, Sotinrin previously served as the Group Chief Executive Officer of SAO Group. Under his leadership, SAO Agro spearheaded transformative agricultural initiatives, including a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
Beyond agribusiness, Sotinrin has an extensive background in infrastructure finance, having led SAO Capital to secure over $750 million in development funding, including the landmark $200 million Akure Water Supply Project. His public sector experience includes serving as Special Adviser on Environment & Urban Development to the Minister of State for the FCT from 2011 to 2015.
His global expertise spans advisory roles with international organizations such as the World Bank, African Development Bank (AfDB), DFID, and USAID. He has also held key positions at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Sotinrin holds an Executive MBA from Saïd Business School, Oxford University, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from Warwick University.
The Presidency emphasized that Sotinrin’s appointment aligns with its strategy to reposition the BOA as a driver of food security, agricultural innovation, and rural economic prosperity.
“His proven ability to mobilize capital, innovate in agribusiness, and foster cross-sector collaboration will be instrumental in transforming the Bank of Agriculture into a catalyst for sustainable growth,” the statement read.
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