Tinubu Appoints Ayo Sotinrin as Bank of Agriculture MD, Targets Agribusiness Transformation

President Bola Tinubu has appointed Ayo Sotinrin, a former Chief Executive Officer of SAO Group, as the new Managing Director of the Bank of Agriculture. The announcement was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, through a statement on Friday, April 4, 2025.

President Tinubu emphasized that Sotinrin’s extensive experience in both the private and public sectors makes him well-suited for the role. He praised Sotinrin’s ability to mobilize capital, drive agribusiness innovation, and collaborate effectively across various sectors, describing these skills as crucial for repositioning the Bank of Agriculture as a key player in ensuring food security, sovereignty, and rural development.

Before his appointment, Sotinrin served as the Group Chief Executive Officer of SAO Group. His leadership at SAO Agro was marked by notable agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava ventures in Ondo State.

Sotinrin also led SAO Capital, securing over $750 million in infrastructure and development financing, notably spearheading the $200 million Akure Water Supply Project. In addition to his private sector achievements, he previously served as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015.

Sotinrin’s career also includes consulting roles with global development partners like the World Bank, AfDB, DFID, and USAID, as well as international experience with 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 degree in Engineering Business Management from Warwick University.

According to the presidency, Sotinrin’s appointment aligns with the administration’s strategy to reinvigorate Nigeria’s agricultural sector and support rural prosperity.