Tinubu Appoints Ayo Sotinrin as Managing Director of Bank of Agriculture

President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), effective immediately. The appointment is part of the administration’s drive to revitalize Nigeria’s agricultural sector and enhance food security.

Mr. Sotinrin, a seasoned professional with extensive experience in both the private and public sectors, previously served as Group Chief Executive Officer at SAO Group. His leadership at SAO Agro spearheaded major agricultural projects, including a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.

Beyond agribusiness, Sotinrin played a pivotal role in securing over $750 million in infrastructure and development finance at SAO Capital. Notably, he was instrumental in the $200 million Akure Water Supply Project. In the public sector, he served as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory (FCT) between 2011 and 2015.

His international credentials include roles at Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency. He has also consulted for global institutions like the World Bank, AfDB, DFID, and USAID, contributing to various federal and state-level initiatives.

Mr. Sotinrin holds an Executive MBA from Said Business School, Oxford University; a Master’s in Engineering Business Management from Warwick University; and an Advanced Diploma in Environmental Conservation.

Announcing the appointment, President Tinubu expressed confidence in Sotinrin’s capacity to drive agricultural innovation and economic empowerment.

“Mr. Sotinrin’s proven ability to mobilize 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 stated.

His appointment is expected to steer the BOA towards increased support for farmers, agribusinesses, and rural communities, aligning with the administration’s broader economic agenda.