Nigeria (Commonwealth) _Nigeria has formally accepted the offer to join the BRICS organization as a developing economy partner. The Nigerian Ministry of Foreign Affairs disclosed this in a statement on Saturday.
At the 2024 BRICS summit in Russia, Nigeria received approval to become a BRICS partner. In an attempt to strengthen ties with the new economic union, Nigeria will join a group of 12 other nations with this approval.
Nigeria’s official authorization to participate as a partner member, according to the Ministry of Foreign Affairs, shows its commitment to advancing international cooperation and seizing economic opportunities.
The government asserts that Nigeria is committed to forging strategic partnerships that bolster its development objectives. Additionally, as per the ministry of Nigeria, the country is committed to developing strategic alliances with the countries that are really committed to meeting economic targets and development goals, taking the country forward and benefiting the citizenry and the country at large, it said.
As a group of significant growing economies, BRICS offers Nigeria a special opportunity to expand trade, investment, and socioeconomic cooperation with its members, the ministry stated.
Nigeria is well-positioned to use this platform to further common objectives in infrastructure development, technology, energy security, trade and investment, and climate change.
In keeping with our culture of strategic autonomy, this collaboration also supports our country’s goals for inclusive growth, regional integration, and active involvement in establishing a just and equitable global economic order, the statement said.
Nigeria’s status as a “partner country” is distinct from Indonesia’s full membership, which was awarded on January 7. The BRICS bloc is not the same as full membership; rather, it denotes a cooperative connection with the group.
Nigeria can participate in BRICS programs as a partner without having the formal responsibilities or decision-making authority that full membership entails. Conversely, full members have a greater say in governance, actively influence the bloc’s policies, and enjoy greater access to resources.
However, Nigeria has stated that it would like to interact “constructively with BRICS members.” Nigeria wants to promote innovation and people-to-people interactions in accordance with our strategic priorities and national interests, according to the Ministry of Foreign Affairs.
The most populous country in Africa joins Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan as the ninth member of the BRICS alliance. Brazil, Russia, India, and China formed BRICS in 2009, and South Africa joined a year later in 2010.
The organization is striving to meet common global targets, which are essential for achieving independence in development. They are in the discussion on de-dollarization to find an alternative trade in currency in addition to the US dollar or completely get away from the use of US dollars.
