Nigeria’s Absence from the BRICS: What’s at Stake?
As of January 2024, the BRICS bloc is set to welcome two African nations into its fold. Egypt, a prominent economy, and Ethiopia, a rising economic player and the second most populous country in Africa, will be joining South Africa, another heavyweight on the continent, within the bloc.
This development raises a pertinent question among Nigeria’s admirers: Why isn’t the African giant a part of this alliance, especially when more than 40 countries have expressed interest in joining, with 22 formally requesting membership?
The question remains: What are the potential benefits for Nigeria to join the BRICS bloc?
Since its inception as BRIC in 2009 and later expansion to BRICS in 2010 with the inclusion of South Africa, the bloc (comprising Brazil, Russia, India, China, and South Africa) has positioned itself as a robust counterforce against the dominant and manipulative influences of Western powers.
BRICS is an acronym that stands for an association of five major emerging economies: Brazil, Russia, India, China, and South Africa. These countries form a cooperative bloc to promote economic development, cooperation, and mutual influence on the global stage. The term “BRICS” was initially coined to refer to the four countries of Brazil, Russia, India, and China, but South Africa later joined the group, expanding it to BRICS. Source for more news