By Onoja Baba, Nigeria
The newly appointed Managing Director of the Bank of Agriculture (BoA), Ayo Sotinrin, has described agriculture as the lifeblood of Nigeria’s economy.
He stressed its pivotal role in driving inclusive growth, food security, and trade expansion across Africa.
Sotinrin made this assertion while delivering a keynote address at the ABC Business Forum held last week on Victoria Island, Lagos.
The event brought together key players from both the public and private sectors to explore strategies for unlocking the potential of the African Continental Free Trade Area (AfCFTA).
“Agriculture is not just a mere sector; it is the lifeblood of our economy,” Sotinrin said.
He added that “Our farmers, from maize growers in Nasarawa to poultry producers in Ibadan, must see AfCFTA not as a distant dream, but as a tangible opportunity to scale, compete, and thrive.”
Appointed by President Bola Ahmed Tinubu on April 4, 2025, Sotinrin succeeded Alwan Hassan as MD of the Bank of Agriculture. In his address, he outlined a clear agenda for revitalizing agricultural finance, addressing structural bottlenecks, and enhancing trade facilitation mechanisms across the continent.
He emphasized the need to dismantle barriers that hinder intra-African trade. “A key priority is cutting red tape, fostering honest dialogue between government agencies and entrepreneurs, and building trust that transcends political cycles,” he said.
The forum also featured engaging insights from notable panelists including Olasumbo Adeleke, Lawal Abdullahi, Mr. Abayomi Salami, and Cynthia Gnassignbe-Essonam. The session was moderated by Chijioke Odo of Deloitte.
Sotinrin concluded by calling for sustained collaboration across sectors. “Let’s keep this conversation going. Collaboration is not optional—it is the only way forward.”
