By Abdullahi Lukman
President Bola Ahmed Tinubu has said that he appointed Ayo Sotinrin as the Managing Director of Bank of Agriculture to facilitate the transformation of Nigeria’s agricultural landscape to boost food production and expedite rural development.
Presidential spokesman, Bayo Onanuga, announced Sitinrin’s appointment to that capacity, Friday, April 4. The appointment took immediate effect.
Onanuga reported President Tinubu as saying that Sotinrin’s appointment aligns with his administration’s objectives of transforming Nigeria’s agricultural landscape to boost food production and promote rural development.
The President expressed confidence that Sotinrin’s skills in capital mobilization and agribusiness innovation will help reposition the Bank of Agriculture as a key catalyst for food security and economic prosperity in the country.
The Bank of Agriculture plays a crucial role in Nigeria’s economic development by providing vital financial support to farmers and agribusinesses.
Sotinrin’s appointment is expected to strengthen the bank’s ability to drive investment in modern agriculture, improve access to financing for smallholder farmers, and increase Nigeria’s food production capacity.
Stakeholders in Nigeria’s agricultural sector are hopeful that Sotinrin’s leadership will introduce fresh strategies to make BOA more effective in supporting the sector’s growth.
His focus is expected to include improving access to affordable credit for farmers, enhancing the bank’s operational efficiency, and fostering partnerships with local and international investors.
With his wealth of experience and the full backing of the administration, Sotinrin is expected to help advance Nigeria’s agricultural agenda, contributing to the broader goal of economic diversification and sustainable development.
Sotinrin, a seasoned finance and agribusiness professional, brings a wealth of experience to the role, having worked in both the private and public sectors. His appointment is expected to play a key role in advancing the Tinubu administration’s vision to revitalize Nigeria’s agricultural sector and drive economic growth through enhanced food security.
Before his new role at BOA, Sotinrin served as the Group Chief Executive Officer at SAO Group, where he led several groundbreaking 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.
His expertise extends to development finance, having facilitated the raising of over $750 million for infrastructure projects, including the $200 million Akure Water Supply Project.
In addition to his extensive private sector experience, Sotinrin has served in various advisory roles in the public sector. From 2011 to 2015, he was Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory.
He has also worked as a consultant for international development agencies such as the World Bank, the African Development Bank, and USAID. Furthermore, his international banking experience includes roles at the Royal Bank of Scotland and Deutsche Bank.
Sotinrin’s educational credentials include an Executive MBA from Saïd Business School at Oxford University, a Master’s in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.