President Bola Tinubu has appointed Ayo Sotinrin as the new managing director of the Bank of Agriculture, effective immediately.

Mr Sotinrin brings a diverse and extensive background in the private and public sectors to his new role, Bayo Onanuga, the president’s spokesman, said in a statement on Friday

“Before this appointment, he held the position of Group Chief Executive Officer at SAO Group.

“His leadership at SAO Agro, an agribusiness company, was marked by ground-breaking 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,” said Mr Onanuga.

He said that in the public sector, Mr Sotinrin also served as special adviser (Environment and Urban Development) to the minister of state for FCT from 2011 to 2015.

According to him, the new appointee has consulted for the World Bank, AfDB, DFID, and USAID and played key advisory roles in projects at federal and state levels.

“His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank and the UK Environment Agency,” Mr Onanuga said.

Mr 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.

“His appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.

“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,” said the presidential aide. 

(NAN)