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President Tinubu Appoints Ayo Sotinrin as Managing Director of the Bank of Agriculture

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President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately.

Mr. Sotinrin brings a diverse and extensive background in the private and public sectors to his new role.

Before his appointment, he held the position of Group Chief Executive Officer at SAO Group. His leadership at SAO Agro, an agribusiness company, was marked by 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.

In the public sector, he served as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015.

He has consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects. His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Mr. Sotinrin holds an 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.

Mr Sotinrin’s appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.

“Mr Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty and rural prosperity”, President Tinubu emphasised.

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Fire at Lagos’ Murtala Muhammed International Airport Terminal 1 Brought Under Control

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…..All Control Tower Personnel Safely Rescued.

A fire outbreak at Terminal 1 (also referred to as the old international terminal) of the Murtala Muhammed International Airport (MMIA) in Lagos has been successfully contained, according to officials from the Lagos State Fire and Rescue Service.

The blaze, which originated from the IT server room on the third floor of a five-storey building near the E-wing of the departure lounge, prompted a swift multi-agency response involving the Lagos State Fire and Rescue Service, the Federal Airports Authority of Nigeria (FAAN), and other emergency teams.

Controller General Margaret Adeseye of the Lagos State Fire and Rescue Service confirmed in an official update that the fire is now under control. Critically, all 12 personnel in the control tower were rescued alive and uninjured, with no one left trapped in the incident.

“Further updates will be made available in due course,” Adeseye stated.

Related reports from FAAN indicate that a crane was deployed to aid in the rescue efforts at the control tower, where up to 14 individuals were initially reported as trapped in some accounts. All have since been safely evacuated. While some sources mention minor injuries (such as six individuals in stable condition), the primary update from the fire service emphasizes no serious harm to the control tower staff and no fatalities.

The incident led to temporary disruptions, including the closure of the Lagos airspace and suspension of flights at the airfield, as a precautionary measure. Authorities are working to restore operations, potentially through a temporary control tower setup.

The cause of the fire remains under investigation, with preliminary indications pointing to the server room as the origin. The affected terminal, which has been undergoing renovations, saw emergency evacuations and containment efforts to prevent spread to other sections.

No lives were lost in the incident, and emergency operations continue to monitor the site for full safety. Airport authorities and emergency services have commended the coordinated response that minimized risks to personnel and infrastructure.

Travelers are advised to check with airlines for updates on flight statuses amid the ongoing recovery efforts.

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Lagos increases BRT fares by 13%

In a statement by LAMATA’s Head of Corporate Communication, Kolawole Ojelabi, the revised fare structure will take effect from Monday, March 2, 2026.

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The Lagos State Government has approved a 13 percent increase in fares across all services under the Bus Reform Initiative, which includes the Bus Rapid Transit system and standard bus routes throughout the state.

Governor Babajide Sanwo-Olu granted the approval after receiving a passionate appeal from regulated public transport operators.

He highlighted the mounting challenges facing the long-term viability of their operations in Nigeria’s current economic climate.

In a statement by LAMATA’s Head of Corporate Communication, Kolawole Ojelabi, the revised fare structure will take effect from Monday, March 2, 2026.

“The adjustment is designed to help offset the severe impact of ongoing economic pressures on public transport providers.

It also aligns with the state’s previously established annual fare review mechanism. The urgency of the measure is driven by persistent inflationary trends.

The statement added that bus operating companies have been contending with sharply rising expenses in several key areas, including vehicle maintenance and repairs, imported spare parts, and staff salaries, particularly following the rollout of the new national minimum wage.“

In addition, operators are committing significant resources to fleet renewal, procuring newer, cleaner, and more fuel-efficient buses to boost passenger comfort, maintain high service standards, and advance environmental sustainability goals in Lagos.

It also aligns with the state’s previously established annual fare review mechanism. The urgency of the measure is driven by persistent inflationary trends.

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Fire Engulfs MMIA Terminal One, but no casualties

Eyewitnesses said that the blaze started on one of the affected floors before spreading to adjoining sections of the terminal.

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Photo credit: Lagos State Fire Service

A fire has broken out on parts of the fourth and fifth floors of Terminal One at Murtala Muhammed International Airport in Lagos, triggering an emergency response and temporary disruption of flight operations.

Eyewitnesses said that the blaze started on one of the affected floors before spreading to adjoining sections of the terminal.

The impacted areas have since been evacuated as a precautionary measure.

Air Traffic Controllers stationed in the control tower were alerted to the incident and are reported to be safe, though closely monitoring the situation as emergency teams work to bring the fire under control.

As a result of the development, inbound flights to Lagos from other airports have been instructed to delay departure until the situation stabilises.

Aircraft already approaching Lagos may be required to remain airborne until clearance is given to land.

Fire and rescue officials of the Federal Airports Authority of Nigeria (FAAN) are currently battling the blaze and intensifying efforts to contain it.

FAAN has confirmed that no casualties have been recorded at this time. Authorities say further updates will be provided as more details emerge.

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