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China carmaker BYD beats Elon Musk’s Tesla in annual revenue

By Francesca Hangeior
Chinese carmaker BYD saw a surge in revenue last year, a stock filing showed Monday, surpassing the $100 billion mark and beating rival Tesla as the Shenzhen-based firm accelerates its overseas expansion.
BYD has emerged in recent years as the clear leader in China’s highly competitive electric vehicle market, which is the largest in the world.
The country’s automotive champion recorded 777.1 billion yuan ($107.2 billion) in revenue for 2024, eclipsing the $97.7 billion in revenue last year announced previously by Tesla.
BYD’s figure represented a 29 percent increase from 2023 and was higher than a Bloomberg forecast of 766 billion yuan.
The firm’s net profit last year amounted to 40.3 billion yuan, up 34 percent from 2023 and reaching a record high.
The firm’s stock price also reached an all-time peak this month, after it unveiled new battery technology that it said allows a vehicle to travel up to 470 kilometres (292 miles) after charging for just five minutes.
BYD says its newest battery and charging system boasts speeds of 1,000 kW, ahead of Tesla’s Superchargers, which currently offer speeds of 500 kW.
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Atiku lied, Wike never express any desire to be running mate in 2023 – Lere Olayinka

Senior Special Assistant on Public Communications and Social Media to the Federal Capital Territory FCT minister, Lere Olayinka has described as false, claims by former Vice President, Atiku Abubakar, that the committee set up by the People’s Democratic Party PDP to select its Vice Presidential candidate in the 2023 election rated the former Governor of Delta State, Dr Ifeanyi Okowa, as its first choice.
Olayinka said his principal, Nyesom Wike also never sought to be Atiku’s running mate in the first place.
He said it was unfortunate that Atiku, could not respect the Holy Month of Ramadan and avoid telling lies, asking how a committee would present a person who had two votes as first choice against the person who had 13 votes.
Atiku had said; “In 2023, I told the party (PDP) to set up a committee to recommend three names. The committee ranked Okowa as the top choice, with Wike in second place and former Akwa Ibom Governor, Udom Emmanuel in third. So I picked number one.”
Reacting, the FCT Minister’s Spokesperson said in a statement on Saturday, that it became necessary to put the records straight, hence the need to debunk Atiku’s lies, insisting that “Wike never put himself forward to be Atiku’s running mate then, Atiku did by himself, and he (Wike) accepted his offer with conditions.”
Olayinka said it was a fact that in the committee report, Wike had 13 votes while Okowa had two.
He said; “the committee set up by the PDP picked Wike as Atiku’s running mate, but for reasons best known to him, he settled for Okowa, who had two votes from the committee members. That’s the truth Atiku should tell and stand with, not trying to colour his decision with falsehood.”
Olayinka, who noted that, for devout Muslims, the period of Ramadan is one of holiness, said “Al-Bukhaari (1903, 6057) quoted Abu Hurayrah (may Allah be pleased with him) as saying that Holy Prophet Mohammed (PBUH) said: ‘Whoever does not give up false speech and acting upon it, and ignorance, Allah (Subhanahu Wa Ta’ala) has no need of him giving up his food and drink.’
“Unfortunately, Atiku chose to tell lies so brazenly during the holy month of Ramadan, obviously forgetting that Allah (SWT) does not hearken to the prayers of liars, probably the reason he (Atiku) has continually failed in his desperation to be president of Nigeria.”
Advising Atiku to always be honest to stand by his decisions, Olayinka said the FCT Minister was no longer interested in what happened and what did not happen concerning the 2023 presidential election.
“Like I said earlier, Wike has no regret for Atiku not picking him as his running mate and he also has no regret taking the position he took concerning the presidential election,” he said.
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Wike to PDP: ‘You Raised Billions from Forms, Yet Failed to Pay Ground Rent’

The Minister of the Federal Capital Territory, Mr. Nyesom Wike, has strongly dismissed claims by the Peoples Democratic Party (PDP) that the revocation of its land title was a deliberate attempt to suppress opposition. Speaking during a visit by the Body of Benchers in Abuja on Friday, Wike, who is also a life bencher, expressed disappointment over the allegations.
He clarified that the revocation of land titles, such as the PDP’s land in Central Area, Abuja, was not politically motivated, but rather a result of non-payment of mandatory ground rent. The PDP, despite generating significant revenue from the sale of party forms, failed to pay the N7.6 million rent for over a decade.
Wike also highlighted that the PDP’s National Secretariat at Wadata Plaza was not registered in the party’s name, but under a Senator’s ownership, who had also neglected to pay ground rent for 28 years. The minister questioned why the PDP was accusing him of targeting the party when the issue was rooted in unpaid dues.
The minister emphasized that similar actions had been taken against various institutions and individuals, including the Independent National Electoral Commission and the Central Bank of Nigeria, for the same reason. Wike made it clear that no one, regardless of status, would be spared from land title revocation due to overdue rent.
Wike’s recent approval of the revocation of nearly 5,000 land titles for failure to pay ground rent underscored his commitment to enforcing the policy fairly.
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Northern senators condemn killing of travelers in Edo

The Northern Senators Forum on Saturday condemned the murder of traveling hunters in Uromi, the Esan North East Local Government Area of Edo State.
In a statement issued in Abuja by the Chairman of Northern Senators Forum, Abdulaziz Yar’Adua, the lawmakers described the incident as ‘deeply disturbing and saddening.’
He said, “These individuals, who were traveling to the Northern part of Nigeria, were tragically stereotyped as Fulani kidnappers and brutally murdered in a despicable manner.
“We strongly condemn this heinous act, which is a clear violation of the fundamental human rights of the victims. We urge the Edo State Government to take immediate action to identify and prosecute the perpetrators of this gruesome murder.”
While calling for a thorough probe to be conducted, the northern senators emphasised that the Constitution guarantees every citizen the right to freely move across any part of the country.
They also urged Edo stakeholders and security agencies to work towards ensuring that such killing is not repeated in the future.
“We commend President Bola Tinubu for directing the police and other security agencies to conduct a thorough investigation into this incident, to arrest the culprits. This swift action demonstrates the government’s commitment to upholding justice and protecting the rights of all citizens.
“As stated in Section 41 of the Nigerian Constitution, every citizen has the right to freedom of movement and residence throughout the country. No citizen can be expelled from or refused entry into Nigeria. We must uphold these fundamental principles and ensure that all citizens are treated with dignity and respect.
“We call on the Edo government, security agencies, and stakeholders to work together to prevent such incidents from occurring in the future. We must promote a culture of tolerance, understanding, and peaceful coexistence among Nigerians,” the statement added.
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