Ayo Sotirin was appointed by president Bola Ahmed Tinubu to lead the country’s agricultural finance institution, Bank of Agriculture. The development finance specialist and one of the biggest promoters of agro-allied financing has cut his teeth in fostering significant contribution to development finance for agriculture and other sectors in the country. His wealth of experience marching through the ranks in various finance institutions such as the World Bank, African Development Bank (AfDB), Department for International Development (DFID), and United States Agency for International Development (USAID).
With a Bachelor of Science degree in Agricultural Economics, Sotirin holds post-graduate qualifications from top tier educational institutions including n 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.
Before his appointment as the CEO of Nigeria’s Bank of Agriculture, he held the position of Group Chief Executive Officer at SAO Group, an agribusiness company, under his leadership the company recorded 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.
Sotirin served remarkably from 2011 to 2015 as Special Adviser (Environment & Urban Development) to the Minister of State FCT.
The Bank of Agriculture is one of the financial institutions the Tinubu administration seeks to reposition for resuscitation of the non-oil sector through a more efficient and effective credit access for farmers in the country. The choice of a young, vibrant and well experienced technocrat to man the institution seeks to further deepen the commitment to a Renewed Hope for millions of Nigerians ravaged by hunger and hardship over the past years.
A statement issued by the Presidential Spokesperson, Mr Bayo Onanuga, announcing the appointment of Mr Sotirin, stated that the appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.