|Economy|
Nigeria’s Foreign Reserves Fall to US$34.51bn: Nigeria’s foreign exchange reserves fell to $34.51 billion by January 13, down 20.2 percent from $43.24 billion a year earlier, owing to drawdowns by the central bank to defend the local currency, the Naira. Data from the Central Bank on Thursday showed the reserves of Africa’s biggest economy have steadily declined, falling 3.2 percent month-on-month from December, when they stood at $35.66 billion. The Naira has remained under pressure, trading outside the central bank’s target band of N160-N176 to the Dollar, as oil prices plunge. This is despite a devaluation meant to find the currency’s true value and shore up Nigeria’s foreign reserves. Source: Businessday

FG Sets up Panel on Infrastructure: The Federal Government on Thursday inaugurated an inter-ministerial committee for the formal inauguration of the National Integrated Infrastructure Master Plan by President Goodluck Jonathan. The NIIMP, which is a comprehensive development plan designed to bridge the current infrastructure gap in the country and covering a 30-year period from 2014-2043, is projected to gulp about N485tn and create 33.6 million jobs. Source: Punch

|Infrastructure|
AfDB Earmarks N50.4bn for Development Projects in Abuja: The African Development Bank, AfDB, disclosed yesterday that it would undertake N50.4 billion worth of integrated infrastructure development projects in the Federal Capital Territory, FCT, this year. The bank’s Country Director, Dr Ousmane Dore disclosed that, the projects included the provision of roads, water, urban development and waste management. He said the bank would continue to contribute its quota toward reducing the mobility difficulties and infrastructure constraints faced by satellite communities in the FCT. Source: Vanguard

|Oil & Gas|
Seplat gets US$700m Credit Facility: An indigenous oil and gas company, Seplat Petroleum Development Company Plc, has announced the successful refinancing of its existing debt facilities with a new $700m seven-year secured term facility and $300m three-year secured revolving credit facility. The seven-year facility also includes an option for the company to increase the size of the facility by additional $700m for qualifying acquisition opportunities as Seplat considers buying London-based Afren Plc. Source: Punch