Nigeria has officially become the ninth “partner country” of BRICS, the influential group of emerging economies comprising Brazil, Russia, India, China, and South Africa.
The Brazilian government, serving as the BRICS Chair for 2025, announced Nigeria’s admission as a partner country.
BRICS was formed in 2009 by Brazil, Russia, India and China as a counterweight to the Group of Seven leading industrialized nations. South Africa joined in 2010, and last year, the bloc added Iran, Egypt, Ethiopia, and the United Arab Emirates. Saudi Arabia has been invited to join, while Turkey, Azerbaijan, and Malaysia have formally applied, alongside other interested nations.
Nigeria joins Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan as a partner country.
“With the world’s sixth-largest population and Africa’s largest economy, Nigeria shares convergent interests with other BRICS members,” Brazil’s government said.
“It plays an active role in strengthening South-South cooperation and reforming global governance — priorities during Brazil’s current presidency.”
Together, BRICS members represent over 40% of the world’s population and more than a quarter of global GDP. Nigeria’s inclusion is expected to deepen the bloc’s influence in Africa.
What is BRICS Partnership?
Partner countries are on the path to full membership. They participate in summits and foreign ministers’ meetings and may endorse declarations, albeit without full voting rights. The admission process considers geographic balance and diplomatic ties.
Admission as a BRICS partner country follows a phased process. It begins with informal consultations led by the rotating presidency, considering factors like geographic balance and strong diplomatic ties with all member nations.
The group’s leaders then reach a consensus to extend invitations. Once the consultations are complete and countries accept, the new partners are officially announced.
Implications for Nigeria
Nigeria’s partnership signals growing global relevance. Economically, BRICS membership could attract foreign direct investment from giants like China and India into Nigeria’s infrastructure, technology, and industrial sectors, fostering growth and job creation.
Reduced trade barriers among BRICS members offer Nigeria opportunities to diversify exports beyond crude oil. Access to markets for agricultural and manufactured goods could stabilize its economy and lessen vulnerability to global price swings.
The BRICS New Development Bank (NDB) funds sustainable projects. Nigeria could access concessional loans to tackle infrastructure deficits in transportation, energy, and technology.
BRICS aims to reduce reliance on the U.S. dollar. Nigeria could benefit from alternative trade and currency mechanisms, mitigating exchange rate risks.
Diplomatically, as Africa’s largest economy, Nigeria’s role in BRICS enhances its influence in global governance and South-South cooperation, strengthening its ability to advocate for reforms in international systems.
However, Nigeria faces significant hurdles. Economic instability, including high inflation and currency volatility, must be addressed to maximize BRICS opportunities. Balancing trade relations with industrialized BRICS members and managing debt levels will be critical.
BRICS’ stance on reducing dollar dependency could place members at odds with Western nations. President-elect Donald Trump recently threatened tariffs on BRICS economies pursuing dollar alternatives. Navigating such tensions will require strategic diplomacy.
Implications for BRICS
Nigeria’s inclusion enriches BRICS’ diversity, strengthening discussions on development strategies and global governance reforms. Its large population and strategic West African location expand BRICS’ market reach and trade influence.
With vast oil and gas reserves, Nigeria enhances BRICS’ resource security. Collaboration on energy can promote stable supplies and economic stability.
By embracing Nigeria and other emerging economies, BRICS bolsters its bid for a multipolar world order.
Discover more from Pluboard
Subscribe to get the latest posts sent to your email.