President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture.
According to a statement issued on Friday by the President’s Special Adviser on Information and Strategy, 
Bayo Onanuga, the appointment takes immediate effect.
The Presidency stated that Mr. Sotinrin brings to the role “a diverse and extensive background in both the private and public sectors.”
Prior to his appointment, Mr. Sotinrin served as the Group Chief Executive Officer at SAO Group. His leadership at SAO Agro, an agribusiness subsidiary was known for several transformative initiatives, including the development of a 20,000-hectare oil palm plantation, and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
He also led SAO Capital, successfully raising over $750 million in infrastructure and development financing, notably securing funding for the landmark $200 million Akure Water Supply Project.
In the public sector, Mr. Sotinrin previously served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015.
His professional experience also includes extensive consultancy roles for international development partners such as the World Bank, African Development Bank (AfDB), Department for International Development (DFID), and the United States Agency for International Development (USAID). Additionally, he held key advisory roles in federal and state-level projects, alongside positions with global institutions such as the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Mr. Sotinrin holds an Executive MBA from Saïd Business School, University of Oxford; a Master’s in Engineering Business Management from Warwick University; and an Advanced Diploma in Environmental Conservation.
The Presidency noted that the appointment aligns with President Tinubu’s strategic agenda to revitalise Nigeria’s agricultural sector.
“Mr. Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty, and rural prosperity,” President Tinubu stated