New Managing Director Named For Agric Bank
• Tinubu lays foundation for agricultural growth
By PHC Telegraph
A new Managing Director for the Bank of Agriculture has been named. He is Ayo Sotinrin. His appointment comes as more and more ordinary Nigerians worry about growing food insecurity.
President Bola Ahmed Tinubu who hasn’t given up on a reform agenda that many argue have put poor Nigerians through the eyes of the needle said in a statement that Sotinrin’s appointment takes effect at once.
The new helmsman takes over the Bank of Agriculture at a time of great national instability.
Most farmers across the country are unable to gain access to their farmlands due to bloody clashes that have left quite many people dead.
Experts say the absence of effective motivation, especially of farmers seeking to acquire improved seedlings, modern implements and credit facilities have been identified as some of the barriers militating against farming in Nigeria.
The new managing director is expected to revolutionise the bank’s policies in a bid to drive growth within the sector.
Before his appointment as the Chief Executive of the Bank of Agriculture, Sotinrin held the position of Group Chief Executive Officer at SAO Group.
His 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.
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.
Sotinrin’s 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”, President Tinubu added.