Tinubu Appoints Ayo Sotinrin as New Bank of Agriculture MD

President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately, according to a State House press statement released on April 4, 2025.

Mr. Sotinrin brings a wealth of experience from both the private and public sectors to his new role. Notably, he served as the Group Chief Executive Officer of SAO Group, where he spearheaded significant agricultural initiatives through SAO Agro. These included the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.

Furthermore, at SAO Capital, Mr. Sotinrin successfully raised over $750 million in infrastructure and development finance, including the notable $200 million Akure Water Supply Project.

His public sector experience includes a stint as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015. He has also provided consultancy services to prominent global development partners such as the World Bank, AfDB, DFID, and USAID, and played advisory roles on various federal and state-level projects.

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Mr. Sotinrin’s international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency. He 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.

President Tinubu emphasized that Mr. Sotinrin’s appointment aligns with his administration’s strategy to revitalize Nigeria’s agricultural sector. “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.

Bayo Onanuga,

Special Adviser to the President (Information & Strategy), released the statement.