By : Lloyd Mahachi
Nigeria has officially become a partner country of the BRICS group, confirmed by Brazil’s Foreign Ministry. This move aligns with the shared interests of strengthening cooperation among Global South countries and advocating for international organization reforms.
The announcement was made by the Brazilian government, welcoming the Nigerian government’s decision. This development is a significant milestone in Nigeria’s journey towards deeper integration with the BRICS bloc.
As the world’s sixth-largest population and Africa’s largest, Nigeria shares convergent interests with other BRICS members. The country plays an active role in enhancing South-South cooperation and advocating for the reform of global governance key priorities during Brazil’s current presidency.
Nigeria’s admission into the BRICS partner country category is expected to enhance its global influence and reputation. The country will participate in BRICS meetings and activities, contributing to the group’s decision-making processes.
The partner-country category was established at the 16th BRICS Summit held in Kazan in October 2024. Nigeria becomes the ninth partner country of BRICS, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
Nigeria’s entry into BRICS presents an opportunity to expand its influence in global decision-making and foster stronger economic and diplomatic partnerships with member and partner countries. The country is expected to benefit from increased cooperation in areas such as trade, investment, and economic development.
Originally comprising Brazil, Russia, India, China, and South Africa, BRICS began to expand as more countries expressed interest in joining the group of leading emerging economies. Throughout its journey toward full membership, Nigeria has been recognized as a significant participant in international dialogues and initiatives.
This new partnership with BRICS is expected to further solidify Nigeria’s role on the global stage. In December 2024, Nigeria sought the support of South Africa to secure full membership in both the G20 and BRICS. Bayo Onanuga, the presidential spokesperson, announced that Nigeria is also pursuing membership in the BRICS New Development Bank (NDB).
The expanded BRICS bloc has been a significant driver of global economic growth in recent years, accounting for approximately 37% of the world’s gross domestic product (GDP). Analysts have suggested that Western hypocrisy and hegemony have strengthened the bond among BRICS+ countries.
To counter the hyper weaponization of sanctions and the burden of the dollar’s exorbitant privilege on middle-income countries, the bloc’s leaders have been considering the development of an alternative payment system independent of the US dollar. Last year, President-elect Donald Trump threatened to impose 100% tariffs on BRICS nations if they took actions to undermine the dollar.
Nigeria’s partnership with BRICS is expected to have far-reaching benefits for the country and its people. The partnership is expected to open up new opportunities for cooperation and collaboration in areas such as trade, investment, and economic development.
The BRICS partnership will also provide Nigeria with a platform to engage with other emerging economies and address common challenges. The country will be able to share its experiences and expertise with other member countries, while also learning from their best practices.
In the long term, Nigeria’s partnership with BRICS is expected to contribute to the country’s economic growth and development. The partnership will provide Nigeria with access to new markets, technologies, and investment opportunities, which will help to drive economic growth and reduce poverty.
Nigeria’s partnership with BRICS is a significant development that is expected to have far-reaching benefits for the country and its people. The partnership will provide Nigeria with a platform to engage with other emerging economies, address common challenges, and contribute to the country’s economic growth and development.
Editor : Josephine Mahachi