The Bank of Agriculture (BOA) is gearing up for a major shake-up under its new Managing Director, Ayo Sotinrin, who has unveiled a bold reform agenda aimed at boosting agribusiness and empowering small and medium-sized enterprises (SMEs) across Nigeria.
Speaking at the handover ceremony at the BOA headquarters in Kaduna, Sotinrin—recently appointed by President Bola Tinubu—promised to reposition the bank as a dynamic, tech-driven institution focused on financing agriculture, scaling up SMEs, and revitalising rural economies.
A finance and agribusiness expert with vast experience across both public and private sectors, Sotinrin laid out his vision for the BOA: full digitisation of branches nationwide, adoption of smart banking practices, and intelligent capital deployment to support viable businesses and agritech innovations.
"We're not just changing how we bank—we're changing how we support the agricultural value chain," he said. "From cocoa to ginger, we'll unlock value and scale enterprises that drive job creation, food security, and exports."
Crucially, the new MD emphasised the bank's role in supporting agri-SMEs through improved access to finance, stronger monitoring and evaluation systems, and innovative loan management tools.
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He also highlighted plans to introduce homegrown fertiliser production, modern farm mechanisation, and youth-focused financing programs, particularly in rural areas where access to capital has long been a challenge.
Sotinrin urged large-scale farmers and agribusiness players to partner with BOA, noting that recapitalisation efforts are underway to strengthen the bank's capacity to fund impactful ventures.
He expressed optimism about working with President Tinubu and the Ministry of Agriculture to drive sustainable economic growth through the SME and agriculture sectors.
With a clear focus on innovation, accountability, and value chain development, Sotinrin's leadership signals a new era for the BOA—one that puts small businesses and agriculture at the heart of Nigeria's economic revival.
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