KEY POINTS
- President Tinubu appoints Ayo Sotinrin as the new Managing Director of the Bank of Agriculture to drive agricultural reforms and improve food security.
- Sotinrin brings a wealth of experience from the private sector (SAO Group, Deutsche Bank) and public sector (FCT advisory roles, international development consulting).
- His mandate includes mobilising investment, expanding agribusiness financing, and positioning the BOA as a key player in Nigeria’s agricultural transformation.
President Bola Tinubu has announced the immediate appointment of Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), marking a strategic move to strengthen Nigeria’s agricultural sector.
The announcement was made in an official statement signed by the President’s spokesperson, Bayo Onanuga, on Friday, April 4, 2025.
Sotinrin, a seasoned executive with extensive experience in both private and public sectors, is expected to lead the BOA in delivering on the administration’s agricultural transformation agenda.
His appointment comes at a critical time as Nigeria seeks to enhance food security, boost rural development, and attract investment into agribusiness.
“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,” President Tinubu emphasized in the statement.
Before his new role, Sotinrin served as the Group Chief Executive Officer of SAO Group, where he spearheaded major agricultural initiatives, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
Channelstv reports that his leadership at SAO Capital also saw him raise over 750 Million in infrastructure and development.
Sotinrin: Career journey from business to agriculture
Sotinrin’s career spans international finance, environmental management, and public sector advisory roles. He previously worked at the Royal Bank of Scotland International and Deutsche Bank before transitioning into development consulting. Between 2011 and 2015, he served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT).
Additionally, he has consulted for global institutions such as the World Bank, African Development Bank (AfDB), UK’s Department for International Development (DFID), and USAID, providing expertise on critical infrastructure and agricultural projects.
His academic credentials include an Executive MBA from Oxford University’s Said Business School, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from Warwick University.
The BOA, under Sotinrin’s leadership, is expected to play a pivotal role in financing smallholder farmers, agribusinesses, and rural development initiatives. Analysts believe his appointment signals the Tinubu administration’s commitment to leveraging private sector expertise to revitalize Nigeria’s agricultural economy.
