Nigeria has officially been admitted as a partner country of the BRICS bloc, announced Brazil, the group’s chair.
Formed in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010, BRICS represents a counterbalance to the Group of Seven industrialized nations.
In 2024, the bloc expanded by welcoming Iran, Egypt, Ethiopia, and the United Arab Emirates, with Saudi Arabia invited to join.
Several nations, including Turkey, Azerbaijan, and Malaysia, have applied for membership, reflecting BRICS’ growing global appeal.
Nigeria’s inclusion brings the number of partner countries to nine, alongside Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
“With Africa’s largest population and a thriving economy, Nigeria aligns with BRICS’ vision of global economic collaboration,” Brazil’s government declared on Friday.
The statement highlighted Nigeria’s leadership in advancing South-South cooperation and its advocacy for reforming global governance structures.
These priorities resonate with Brazil’s ongoing presidency of the bloc.
BRICS leaders have also championed the development of a payment system independent of the U.S. dollar, emphasizing economic sovereignty.
This development comes amid former U.S. President Donald Trump’s past threats of imposing steep tariffs on BRICS nations to protect the dollar’s dominance.
Nigeria’s entry into BRICS marks a pivotal moment for Africa’s largest economy, strengthening its voice in global economic affairs.