Abuja, Nigeria – President Bola Tinubu has appointed Ayo Sotinrin, a seasoned agribusiness executive and development consultant, as the new Managing Director of the Bank of Agriculture (BOA), a key institution in Nigeria’s efforts to bolster its agricultural sector. The appointment, effective immediately, was announced Friday by presidential aide Bayo Onanuga.
Sotinrin brings decades of experience to the role, having consulted for prominent global development agencies, including the World Bank, African Development Bank (AfDB), DFID (UK’s Department for International Development), and USAID (United States Agency for International Development). According to the official statement, his expertise in blending innovation, capital mobilization, and sustainable development will be crucial in transforming the BOA into a key driver of food security and rural development.
Prior to this appointment, Sotinrin served as Group CEO of SAO Group, overseeing large-scale agricultural operations, including a 20,000-hectare oil palm plantation, as well as poultry, aquaculture, and crop farms. He also played a key role in mobilizing over $750 million in infrastructure and development financing, including the $200 million Akure Water Supply Project.
Sotinrin’s background includes advisory roles for both federal and state government projects in Nigeria, 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 Oxford University’s Said Business School, an MSc in Engineering Business Management from the University of Warwick, and an Advanced Diploma in Environmental Conservation.
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President Tinubu emphasized that Sotinrin’s expertise aligns with the government’s strategy to revitalize Nigeria’s agricultural value chain, achieve food security, and uplift rural communities. This appointment comes as Nigeria grapples with rising food prices and seeks to reduce its reliance on imports. The BOA plays a critical role in providing financing and support to farmers and agricultural businesses, and Sotinrin’s leadership will be closely watched as Nigeria aims to unlock its agricultural potential.
