President Bola Tinubu has appointed Ayo Sotinrin as the managing director of the Bank of Agriculture. The appointment was communicated to the public in a statement released by Bayo Onanuga, special adviser to the president on information and strategy, on Friday.
Sotinrin is a seasoned professional whose career straddles agribusiness, finance, infrastructure development, and public service. With a track record that blends strategic leadership in the private sector and impactful roles in government, Mr. Sotinrin is positioned to play a pivotal role in transforming Nigeria’s agricultural landscape.
Professional background
Before his appointment, Sotinrin served as the Group Chief Executive Officer of the SAO Group. Under his leadership, the Group’s agribusiness arm, SAO Agro, spearheaded several transformative agricultural projects, including the development of a 20,000-hectare oil palm plantation and expansive poultry, aquaculture, maize, and cassava ventures in Ondo State.
Sotinrin also oversaw operations at SAO Capital, where he successfully raised over $750 million in infrastructure and development finance. One of the standout projects during this time was the $200 million Akure Water Supply Project, a landmark initiative aimed at improving water access and quality in southwestern Nigeria.
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Public sector and development work
His public service experience includes serving as special adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015. In this role, he contributed to urban development policies and sustainability initiatives within Abuja and its environs.
Beyond his official government roles, Sotinrin has consulted for top global development agencies, including the World Bank, African Development Bank (AfDB), UK’s Department for International Development (DFID), and the United States Agency for International Development (USAID). His advisory expertise has supported numerous federal and state-level projects in Nigeria, spanning infrastructure, environmental sustainability, and agricultural innovation.
Global exposure
Sotinrin’s professional reach extends beyond Nigeria. He has held roles at major international financial institutions such as the Royal Bank of Scotland International and Deutsche Bank. He also worked with the UK Environment Agency, further enriching his understanding of global standards in environmental and financial governance.
Education
Sotinrin is academically accomplished. He holds an Executive MBA from the prestigious Saïd Business School at the University of Oxford. He also has a Master’s degree in Engineering Business Management from the University of Warwick and an Advanced Diploma in Environmental Conservation, highlighting his multi-disciplinary expertise.
His appointment comes at a crucial time when Nigeria is pushing to strengthen its food security and unlock the potential of its rural economy.
Tinubu described Sotinrin as a leader with a “proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors,” qualities that will be essential in repositioning the Bank of Agriculture as a driver of food security, sovereignty, and rural prosperity.
With a rare blend of boardroom acumen, public sector experience, and global insight, Ayo Sotinrin is poised to steer the Bank of Agriculture toward playing a more central role in Nigeria’s economic diversification and development agenda.