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Soybean: On Becoming a Highly Coveted Crop

In Nigeria, the consumption of soybean has increased over the years driven by the poultry, fishery and edible oil industries. Between 2012 and 2020, the Federal Ministry of Agriculture of Nigeria forecasted a growth of 51% for the fishery industry and 20% of the poultry industry under its Agricultural Transformation Agenda. Soybean meal is a vital and preferred source of protein in compound feed and accounts for 20%-30% in poultry feed and 20% of fish feed composition. Furthermore, soybean oil is currently recognized as alternative to palm oil by various industries. There is a growing trend in soybean consumption as it is the second most consumed and produced vegetable oil in the world, accounting for 28% of oils produced after palm oil at 37% .