FT News Briefing Nigeria’s pivot to solar power
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Oct 2, 2025 Sales of BYD electric cars have dipped for the first time in 19 months due to weaker demand. Meanwhile, the U.S. government shutdown is not expected to heavily influence interest rates. In Nigeria, a solar power revolution is underway, aiming to solve chronic energy access issues for millions. Mini-grids and solar technology are emerging as alternatives to unreliable generators, fostering local economic growth. However, significant investment is needed to expand these efforts and scale up the power infrastructure.
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BYD's Growth Streak Stumbles
- BYD's monthly sales fell 5.5% year‑on‑year in September, ending a 19‑month streak of growth.
- Analysts say this slowdown and price-control measures will push BYD to expand more aggressively overseas.
Shutdown Delays Key Fed Data
- The US government shutdown has delayed release of critical economic statistics the Fed uses, including the September employment report.
- Missing data creates uncertainty for upcoming Fed decisions and complicates monetary policy timing.
Fed Under Political Pressure
- Political moves around Fed leadership have intensified scrutiny of the central bank.
- The Supreme Court's deferral on Lisa Cook's firing prevents an immediate change and reduces a potential political takeover risk.