In a major step towards revamping Nigeria’s agricultural sector, President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA).
The announcement was made on Friday, April 4, 2025, via a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Ayo Sotinrin isn’t a stranger to big-impact leadership. The finance and agribusiness expert previously served as Group CEO of the SAO Group, where he spearheaded some of the most ambitious agricultural projects in recent years. These include the development of a massive 20,000-hectare oil palm plantation and expansive poultry, aquaculture, maize, and cassava farms in Ondo State.
His experience extends beyond agribusiness. Under SAO Capital, Sotinrin played a central role in raising over $750 million in infrastructure and development financing—most notably the $200 million Akure Water Supply Project.
The Presidency highlighted his impressive track record:
“He’s not just a seasoned executive—he’s a proven mobilizer of capital and ideas, with deep ties to global development partners like the World Bank, AfDB, DFID, and USAID,” the statement noted.
Sotinrin’s public sector experience includes serving as Special Adviser on Environment & Urban Development to the Minister of State for the FCT from 2011 to 2015. Internationally, he’s worked with institutions such as the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, he’s just as accomplished, holding an Executive MBA from Oxford University’s Said Business School, a Master’s in Engineering Business Management from Warwick, and an Advanced Diploma in Environmental Conservation.
President Tinubu’s administration says the appointment fits into its broader vision to transform agriculture into a powerhouse for food security, job creation, and rural development.
“Ayo Sotinrin brings the right mix of experience, innovation, and global exposure needed to reposition the Bank of Agriculture as a driving force for national growth,” said the Presidency.
The appointment has sparked excitement across the agribusiness space, with many stakeholders hopeful that Sotinrin’s leadership could finally unlock the sector’s long-promised potential.
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