The Bank of Agriculture plays a crucial role in supporting Nigeria’s agricultural ecosystem by providing essential financial resources to farmers and agribusinesses. Sotinrin’s leadership is expected to strengthen the bank’s ability to facilitate investments in agriculture, improve access to credit for smallholder farmers, and increase food production nationwide.
In a strategic move aimed at revitalizing Nigeria’s agricultural sector, President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA).
The appointment, which takes effect immediately, was confirmed in a statement released on Friday by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.
Sotinrin, a distinguished expert in finance and agribusiness, brings vast experience from both the private and public sectors. Before his appointment, he served as the Group Chief Executive Officer at SAO Group, where he led transformative agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
Sotinrin’s expertise also extends to development finance, having raised over $750 million in infrastructure and development funding during his time at SAO Capital.
His work spans both national and international borders. Sotinrin previously served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory and has consulted for prominent organizations, including the World Bank, African Development Bank, DFID, and USAID.
He has also held leadership roles at top financial institutions, such as the Royal Bank of Scotland International and Deutsche Bank.
Sotinrin holds an Executive MBA from Saïd Business School, Oxford University, and a Master’s degree in Engineering Business Management from Warwick University, along with an Advanced Diploma in Environmental Conservation.
President Tinubu emphasized that Sotinrin’s appointment aligns with his administration’s goal of boosting food security and fostering economic growth.
“Mr. Sotinrin’s proven track record in capital mobilization, agribusiness innovation, and sector collaboration will be instrumental in transforming BOA into a key driver of food security and rural economic development,” the President stated.
With his deep expertise in both private investment and public sector advisory, Sotinrin is poised to introduce innovative strategies that will enhance the BOA’s operations. His leadership will be pivotal in supporting the government’s vision to leverage agriculture as a primary engine for economic diversification and national prosperity.
Sotinrin’s immediate priorities will likely include enhancing the bank’s efficiency, improving farmers’ access to affordable credit, and forging partnerships with local and international investors to develop Nigeria’s agribusiness sector. This appointment marks a significant step toward fulfilling the administration’s goal of sustainable economic growth and food security for all Nigerians.
About The Author
