President Bola Tinubu has appointed Ayo Sotinrin as the managing director (MD) of the Bank of Agriculture (BOA).
In a statement on Friday, Bayo Onanuga, special adviser to Tinubu on information and strategy, said the appointment is effective immediately.
Onanuga said Sotinrin brings a diverse and extensive background in both the private and public sectors to his new role, having consulted for global institutions such as the World Bank, African Development Bank (AfDB), Department for International Development (DFID), and United States Agency for International Development (USAID).
“Before this appointment, he held the position of group chief executive officer at SAO Group,” the presidential aide said.
“His leadership at SAO Agro, an agribusiness company, was marked by groundbreaking agricultural initiatives, including developing a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
“He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.
“In the public sector, he served as special adviser (environment and urban development) to the minister of state FCT from 2011 to 2015.
“He has consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects.
“His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
“Mr Sotinrin 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.
“Mr Sotinrin’s appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.”
Tinubu emphasised that Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the BOA as a catalyst for food security, sovereignty, and rural prosperity.
