By Dayo Johnson, Akure

A prominent industrialist and chieftain of the All Progressives Congress (APC) in Ondo State, Chief Alexander Oluremi Ajipe, has commended President Bola Tinubu for appointing Ayo Sotinrin as the Managing Director of the Bank of Agriculture (BOA), saying the decision will usher in a significant turnaround in the bank’s operations.

Speaking in Akure, Ajipe praised Sotinrin’s remarkable energy, vast experience, and deep passion for agricultural development, describing him as a perfect fit for the role.

“Ayo Sotinrin’s impressive track record in development finance, infrastructure development, and environmental conservation makes him an ideal candidate for this position,” Ajipe noted. “His experience with government agencies, development institutions, and civil society organizations across Africa will be invaluable in advancing the BOA’s mission.”

Ajipe, a staunch advocate for agricultural growth, expressed confidence that Sotinrin’s leadership will not only strengthen the Bank of Agriculture but also play a vital role in boosting Nigeria’s agricultural sector and rural economy.

Sotinrin’s appointment was announced in a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

Before his appointment, Sotinrin served as Group Chief Executive Officer of SAO Group, where he led several transformative initiatives through SAO Agro, including a 20,000-hectare oil palm plantation, and large-scale poultry, aquaculture, maize, and cassava projects in Ondo State.

He also headed SAO Capital, successfully raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.

Between 2011 and 2015, Sotinrin served as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory (FCT). He has also consulted extensively for international development agencies such as the World Bank, African Development Bank (AfDB), DFID, and USAID.

His global experience spans roles with the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Sotinrin holds an Executive MBA from Saïd Business School, University of Oxford; a Master’s in Engineering Business Management from the University of Warwick; and an Advanced Diploma in Environmental Conservation.

According to Ajipe, Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and foster cross-sector collaboration will be instrumental in repositioning the BOA as a driving force for food security, rural prosperity, and economic transformation in Nigeria.