Soybean is an important crop widely grown in the northern region of Nigeria for human and animal consumption. Commercial production of soybean in Nigeria has existed for eight decades. Current malnutrition and nutrient health problems in Nigeria warranted the introduction of high nutritive and affordable food sources such as soybean in the Nigerian diet. The high demand for soybean and its products has led to the rise in the cultivation of soybean in Nigeria. Although an increase in production has been recorded, the region of production has failed to achieve the potential yield per hectare. In improving soybean production in Nigeria, it is paramount to understand the factors that contribute to the process of production. This review paper provides information on factors affecting soybean production across the regions of production in Nigeria. The identified factors responsible for the yield gap include the impact of climate change on the agroecology shift, nutrient depletion and soil fertility, sowing date, the emergence of pests and diseases, and limited improved soybean cultivars. Adoption of improved soybean variety suitable in agroecology and sowing, at the appropriate sowing date by Nigerian farmers, can guarantee optimum soybean production. Further soybean breeding improvement studies are needed to provide more improved varieties with superior performance in Nigeria’s agroecology to achieve yield potential.