BY FAVOUR NNABUGWU

ABUJA-Nigeria has realized N133.4billion ($882.9million) from the export of cocoa and cocoa products in 2010 alone. Releasing this figure to Vanguard was Mr David Adulugba, Executive Director, Nigeria Export Promotion Council, NEPC, yesterday.

The N133.4 billion generated from cocoa as against N99.3billion ($662.3million) realized in 2009. Adulugba said the amount represented 38.5% of the non-oil export for year 2010.

He, however, expressed worry over the potential international barrier against the development of cocoa industry in the country with the new legislations on Maximum Residue Levels, MRLs, which has affected some consignments of cocoa beans entry into EU countries, Japan and US due to higher concentration of pesticide residues above the MLRs.