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Nigeria tightens rules for oil product importers

Reuters, Friday 24 Aug 2012
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Nigeria's fuel regulator said on Friday oil traders must pre-qualify before they can import oil products, in an effort to combat subsidy fraud, a problem that nearly led to a strike by a major union this week.

The Petroleum Products Pricing Regulatory Agency has given oil traders, which include some of the biggest in the world, until September 7 to submit applications to import fuel.

Nigeria imported over 7 million tonnes of oil products in 2009, according to the International Energy Agency.

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