The Federal Government of Nigeria, in partnership with the Commodities Development Initiative (CDI) and other stakeholders, has validated a National Soybean Expansion Strategy aimed at increasing production by 460,000 metric tonnes.At a validation works… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria validates national soybean expansion strategy to boost production By Busola Bamidele on June 19, 2025 The Federal Government of Nigeria, in partnership with the Commodities Development Initiative (CDI) and other stakeholders, has validated a National Soybean Expansion Strategy aimed at increasing production by 460,000 metric tonnes. At a validation workshop in Abuja, Sen. Abubakar Kyari, Minister of Agriculture and Food Security (represented by Mr. Ibrahim Alkali), emphasized the government's commitment to supporting a private sector-led, food-secure, and export-oriented soybean value chain. Soybean was described as a strategic commodity essential for nutrition, livestock feed, and foreign exchange. Read also: Nigeria validates national soybean expansion strategy to boost production Oyedele urges tax cuts, simpler policies to support small businesses Nigeria set to seal 30 new MoUs with Brazil to boost trade, agribusiness FG launches creative hub to drive innovation, trade Obasanjo, Gov Yahaya unveil seed factory to boost farming in Gombe Key Goals of the Strategy Include: Scaling up production through improved productivity and expanded cultivation Enhancing processing capabilities Strengthening domestic and export markets Mobilizing investment and improving farmer-industry linkages Mr. Roland Oroh, Managing Director of CDI, highlighted the collaborative, multi-stakeholder nature of the strategy, involving farmers, processors, exporters, and government actors. He confirmed the next step is implementation, supported by a signed Public-Private Partnership (PPP) framework under the Nigeria Soybean Partnership. The workshop, organized by the Federal Ministry of Agriculture and Food Security, included contributions from the National Soybean Association of Nigeria, Oil Seed Processors Association of Nigeria, and Dawanu Market Development Association, among others.

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Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has called for a lower corporate tax rate and a simplified tariff system to create a more enabling environment for small businesses and investors in Nigeria.Speaking at a public lecture i… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Oyedele urges tax cuts, simpler policies to support small businesses By sbinsights on June 19, 2025 Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has called for a lower corporate tax rate and a simplified tariff system to create a more enabling environment for small businesses and investors in Nigeria. Speaking at a public lecture in Abuja to mark his 50th birthday, Oyedele said Nigeria's current tax system is outdated, overly complex, and discourages business growth—especially for low-income earners and SMEs. He highlighted ongoing reforms that include full income tax exemption for over one-third of workers, higher exemption thresholds for small businesses, and zero-rating of essential goods. Read also Oyedele urges tax cuts, simpler policies to support small businesses Nigeria set to seal 30 new MoUs with Brazil to boost trade, agribusiness FG launches creative hub to drive innovation, trade Obasanjo, Gov Yahaya unveil seed factory to boost farming in Gombe Yobe empowers 1,000 displaced, host farmers with tools, inputs According to Oyedele, policy changes should prioritise reducing taxes on raw materials and inputs, boosting exports, and creating a fair system that supports remote work and digital entrepreneurship. "The government should focus on doing only what the private sector cannot do, and do it efficiently," he said, urging smarter spending, data-driven policies, and a shift away from overregulation. He stressed the need for inclusion, transparency, and a stable naira policy—suggesting that businesses should be allowed to pay taxes in naira even when earning in foreign currencies. Oyedele concluded by encouraging citizens to be informed, ask questions, and constructively engage in nation-building. "Ignorance compounds vulnerability and steals opportunity," he warned.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110