The increase of 3,362mw of electricity generation recorded by the Power Holding Company of Nigeria (PHCN) last weekend may be short-lived as Shell Petroleum Development Company (SPDC) has again threatened to shut down its Sapele Gas Plant.

The Central Bank of Nigeria (CBN) is to boost domestic credit by facilitating funds to banks through Development Financial Institutions (DFIs).The Deputy Governor, Banking Operations, CBN, Tunde Lemo, said in Lagos yesterday that it was one of the new moves by the banking watchdog to ensure that banks resume lending to the private sector.

HONG KONG—Confusion around the bidding for a 75% stake in Nigerian Telecommunications Ltd. grew as the CEO of the Nigerian company involved in the winning consortium said China Unicom (Hong Kong) Ltd. was one of its partners.