Tinubu Names Ayo Sotinrin New Managing Director of Bank of Agriculture

Ayo Sotinrin has been named the new Managing Director of the Bank of Agriculture by President Bola Tinubu.

According to a statement released by Tinubu’s media assistant Bayo Onanuga, the appointment is effective immediately.

According to the statement, prior to this appointment, Sotinrin served as Group Chief Executive Officer at SAO Group, where he oversaw innovative agricultural projects such as the establishment of a 20,000-hectare oil palm plantation and extensive poultry, aquaculture, maize, and cassava operations in Ondo State.

Onanuga remarked that Sotinrin brings a broad and varied background in the public and private sectors to his new position.

He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.

In the public sector, he served as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015.

He has consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects. His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Sotinrin holds 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.

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The statement said Sotinrin’s appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.

“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 statement said.