President Bola Ahmed Tinubu has appointed Ayo Sotinrin, a seasoned executive and former Group CEO of SAO Group, as the new Managing Director of the Bank of Agriculture.
This announcement was made on Friday, April 4, 2025, by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The president expressed confidence in Sotinrin’s ability to lead a transformative era at the Bank of Agriculture, citing his extensive experience across both private and public sectors. According to the statement, Sotinrin’s appointment is a strategic move aimed at strengthening the institution’s role in advancing food security, agricultural innovation, and rural development across Nigeria.
“Mr. Sotinrin brings a wealth of experience and a track record of success in mobilizing capital, driving agribusiness innovation, and fostering public-private partnerships,” the statement read. “His leadership is expected to reposition the Bank of Agriculture as a key instrument for ensuring food sovereignty and economic prosperity in rural communities.”
Before his appointment, Sotinrin served as Group CEO of SAO Group, where he oversaw operations in agribusiness, infrastructure development, and capital management. Under his leadership at SAO Agro, the company undertook major agricultural ventures, including a 20,000-hectare oil palm project, and large-scale operations in poultry, aquaculture, maize, and cassava in Ondo State.
In addition, Sotinrin spearheaded capital mobilization efforts at SAO Capital, raising over $750 million for development and infrastructure financing. Notable among these was the $200 million Akure Water Supply Project, a landmark initiative aimed at improving urban water access.
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Sotinrin also has significant experience in the public sector, having served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015. He has also worked with several international development agencies—including the World Bank, African Development Bank (AfDB), DFID, and USAID—offering consultancy and advisory services for high-level projects at both federal and state levels.
Internationally, he has held key positions at renowned institutions such as the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, Sotinrin holds an Executive MBA from Saïd Business School at Oxford University, a Master’s degree in Engineering Business Management from the University of Warwick, and an Advanced Diploma in Environmental Conservation.
The presidency noted that Sotinrin’s appointment is consistent with President Tinubu’s broader agricultural revival strategy, aimed at transforming the sector into a cornerstone of national development and food self-sufficiency.
More details on his strategic roadmap for the Bank of Agriculture are expected in the coming weeks.