Commodity Development Initiative: Soya Bean

Development Finance | Agriculture | Manufacturing | MSMEs | Health | Energy/Infrastructure | Financial Inclusion | National Collateral Registry | Export

Commodity Development Initiative | Cassava | Cocoa| Cotton | Fishery | Livestock and Dairy | Maize | Oil Palm | Poultry | Rice| Soya Bean | Tomatoes | Wheat

Overview

The Bank under the Anchor Borrowers' Programme (ABP) listed Soya bean among the 10 focal commodities to be developed to increase domestic production. Nigeria's current Soya beans demand stands at about 1.5 million MT annually. However, local production, due to the unavailability of high yield seed varieties stands at an average of 700,000 MT annually, leaving a production gap of over 55%.

Objective of the Initiative

• To increase productivity through funding collaborations and expanding land under cultivation which will lead to unlocking more cultivatable land and higher productivity per hectare;
• To ensure the availability of high yield seed varieties through import and partnership with research institutes to develop locally released seed varieties using Good Agronomic Practices (GAP) in-country.

Focal States (Production Areas)

Soybeans are mostly produced in the middle belt including Benue, Nassarawa, Kaduna, Niger, Kwara, Plateau, Kogi and the Federal Capital Territory. Other states include Zamfara, Katsina, Kano, Kebbi, Adamawa, Sokoto, Oyo, Ondo, Osun, Bauchi, Ogun, Taraba and Ekiti amongst others.