President Bola Ahmed Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, with immediate effect.
Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, disclosed this in a statement on Friday.
Onanuga said that Sotinrin’s appointment aligns with the goals of Tinubu’s administration and his ability to mobilise and innovate in the 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,” he said.
Sotinrin is a seasoned expert in agribusiness and infrastructure finance, he previously served as Group Chief Executive Officer at SAO Group, where he saw through to the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava projects in Ondo State.
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He also spearheaded SAO Capital, where he helped secure over $750 million in infrastructure financing, including the $200 million Akure Water Supply Project.
In the public sector, Sotinrin was the Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory from 2011 to 2015. He has also worked as a consultant for the World Bank, African Development Bank (AfDB), UK Department for International Development (DFID), and USAID.
His international experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency. He holds an Executive MBA from Oxford University’s Saïd Business School, an Advanced Diploma in Environmental Conservation, and a Master’s in Engineering Business Management from Warwick University.
Sotinrin’s immediate focus will likely be on implementing policies to improve farmers’ access to affordable credit, enhancing the bank’s operational efficiency, and fostering partnerships with both local and international investors to strengthen Nigeria’s agribusiness ecosystem.