President Bola Ahmed Tinubu has approved the appointment of Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), with immediate effect.
Mr. Sotinrin brings a wealth of experience from both the private and public sectors to the role. Prior to his appointment, he served as Group Chief Executive Officer of the SAO Group, where he spearheaded innovative agricultural ventures through SAO Agro. His work included the development of a 20,000-hectare oil palm plantation and major operations in poultry, aquaculture, maize, and cassava production in Ondo State.
Under his leadership at SAO Capital, Mr. Sotinrin helped raise over $750 million in infrastructure and development funding, including the flagship $200 million Akure Water Supply Project.
His public sector experience includes serving as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015. He has also worked as a consultant for international development institutions such as the World Bank, African Development Bank (AfDB), DFID, and USAID, advising on key federal and state-level projects.
Internationally, Mr. Sotinrin held roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, he holds an Executive MBA from Oxford University’s Saïd Business School, a Master’s degree in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
President Tinubu stated that the appointment is in line with his administration’s renewed focus on revitalizing Nigeria’s agricultural sector.
“Mr. Sotinrin’s track record in capital mobilisation, agribusiness innovation, and cross-sector collaboration will be pivotal in transforming the Bank of Agriculture into a driving force for food security, self-sufficiency, and rural development,” the President noted.