President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA).
Sotinrin’s appointment was confirmed on Friday, April 4, 2025, in a statement signed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.
Prior to his appointment, Sotinrin, who is seasoned finance and agribusiness expert, served as the Group Chief Executive Officer at SAO Group.
According to the statement, Sotinrin’s 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 & 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,” the statement read.
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.
Onanuga said his appointment aligns with the Tinubu administration’s strategy 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”, the Presidency said.
