President Bola Tinubu has appointed Nasir Naeem Abdulsalam as the new Managing Director of Ajaokuta Steel Company and Ayo Sotinrin as the Managing Director of the Bank of Agriculture.

Both appointments are part of ongoing efforts to reposition Nigeria’s industrial and agricultural sectors for sustainable development.

The announcement of Abdulsalam’s appointment was contained in a statement from the Office of the Secretary to the Government of the Federation. His tenure began on April 3, and aligns with the provisions of the Certain Political and Judicial Office Holders (salaries and allowances, etc) Act 2008, as amended.

Before this appointment, Abdulsalam served as the Technical Adviser to the Honourable Minister of Steel Development. He also previously held the position of Special Assistant (Academics) to the Director-General of the National Institute for Legislative and Democratic Studies, offering him relevant policy and technical experience.

President Tinubu urged the new Ajaokuta Steel boss to utilise his expertise in advancing the company’s industrial capacity. He emphasised the strategic importance of Ajaokuta in driving both upstream and downstream economic activities, positioning Nigeria as Africa’s industrial hub in line with the Renewed Hope Agenda.

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Sotinrin is expected to refocus agricultural lending towards boosting production and value addition.

His background spans private and public sector leadership. He was previously the Group Chief Executive Officer of SAO Group, where he led significant agribusiness initiatives including a 20,000-hectare oil palm plantation and large-scale poultry and aquaculture projects in Ondo State.

He also played a key role in raising over $750 million in infrastructure finance through SAO Capital, notably securing $200 million for the Akure Water Supply Project. His experience includes consultancy roles with international development organisations such as the World Bank, AfDB, DFID, and USAID.

With academic credentials from Oxford’s Said Business School and Warwick University, Sotinrin brings a blend of global perspective and local insight. President Tinubu expressed confidence in his ability to drive food security, agricultural innovation, and rural prosperity through the Bank of Agriculture.

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