Hobnob News – Abuja:
President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), effective immediately. The announcement was made in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
Mr. Sotinrin is a distinguished finance and agribusiness expert, renowned for his work in both the public and private sectors. Prior to this appointment, he served as the Group CEO of SAO Group, where he led transformative agricultural projects, including the development of a massive 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava enterprises in Ondo State.
As the head of SAO Capital, Sotinrin also facilitated the mobilization of over $750 million in infrastructure and development financing—highlighted by the $200 million Akure Water Supply Project. His core expertise lies in strategic financial planning and investment mobilization, particularly within agriculture and infrastructure.
Sotinrin’s public service record includes his tenure as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (2011–2015). He has consulted for global development agencies such as the World Bank, African Development Bank, DFID, and USAID. His banking career spans international institutions including Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, Sotinrin holds an Executive MBA from the University of Oxford’s Saïd Business School, a Master’s degree in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
President Tinubu emphasized that this appointment is aligned with his administration’s broader goal of revitalizing the agricultural sector as a foundation for economic growth and food security.
“Mr. Sotinrin’s track record in capital mobilization, innovation in agribusiness, and cross-sector collaboration will be pivotal in repositioning the Bank of Agriculture as a key driver of food security, sovereignty, and rural prosperity,” said the President.
The Bank of Agriculture plays a strategic role in Nigeria’s economic transformation by financing farmers and agribusinesses. Sotinrin is expected to bring renewed vision and momentum to the institution—enhancing support for smallholder farmers, attracting new investments in modern agriculture, and driving rural development.
His leadership will focus on improving access to affordable credit, streamlining bank operations, and establishing partnerships with both domestic and international stakeholders to build a resilient and prosperous agribusiness ecosystem.
This appointment underscores President Tinubu’s unwavering commitment to transforming Nigeria’s agricultural sector through expert leadership and innovative financing.
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