President Bola Tinubu has announced the appointment of Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture.
A statement by Bayo Onanuga, Tinubu’s media aide said the
appointment takes immediate effect.
Onanuga noted that Sotinrin brings a diverse and extensive
background in the private and public sectors to his new role.
According to the statement, before this appointment,
Sotinrin held the position of Group Chief Executive Officer at SAO Group. His
leadership at SAO Agro, an agribusiness company, was marked by groundbreaking
agricultural initiatives, including developing a 20,000-hectare oil palm
plantation and large-scale poultry, aquaculture, maize, and cassava operations
in Ondo State.
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.
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.
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