Nigeria’s pivot to solar power
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 2 October 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
Sales of Chinese electric-car maker BYD fell for the first time in 19 months in September, the US government shutdown is not likely to affect interest rates, and a fresh bout of jitters is shaking Argentina’s financial markets. Plus, a nascent solar revolution is taking hold in Africa’s largest oil-producing nation, Nigeria.
Mentioned in this podcast:
BYD monthly sales fall for first time since early 2024
US government shutdown unlikely to prompt deeper Fed cuts
Argentine assets hit by fresh selling amid worries over US bailout
Solar shines in the rush for power in Africa’s largest petrostate
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Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Kelly Gary, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.2 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon |
| 0:22.4 | solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. |
| 0:32.3 | Good morning from the Financial Times. Today is Thursday, October 2nd, and this is your FT News |
| 0:37.2 | briefing. |
| 0:38.5 | An electric vehicle giant is starting to see some weakness, and the U.S. government shutdown |
| 0:43.7 | could have some interesting implications for the Federal Reserve. Plus, Nigeria produces a ton |
| 0:49.6 | of oil, so a pivot to solar power would be a pretty big deal. I'm Mark Filipino, and here's the |
| 0:55.7 | news you need to start your day. |
| 1:05.8 | BYD sales fell last month for the first time in more than a year and a half. The Chinese electric |
| 1:12.1 | vehicle maker sold 5.5% fewer cars compared to a year ago that's according to a Hong Kong |
| 1:18.3 | stock exchange filing yesterday. BYD had been on a meteoric rise and became a major rival to Tesla. |
| 1:25.6 | And this slowdown is thanks to lukewarm demand in China. |
| 1:29.0 | Plus, the government forced BYD to hold off on aggressive price cuts. |
| 1:33.0 | It had been using those to stay competitive. |
| 1:35.9 | Analysts say the drop in sales will put more pressure on BYD to continue expanding outside China. |
| 1:47.6 | The U.S. government has shut down for the first time in nearly seven years. |
... |
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