KAZAN, Russia (ChatnewsTV) — Nigeria has officially joined BRICS as a partner country, alongside 12 other nations, further solidifying its economic ties with the influential intergovernmental bloc. The announcement was made during the BRICS summit in Kazan, Russia, held from October 22 to 24, 2024.
Nigeria’s inclusion as a partner nation follows a remarkable 189% surge in foreign capital inflows from BRICS countries during the first half of 2024, reaching $1.27 billion, compared to $438.72 million during the same period in 2023.
The new BRICS partners, in addition to Nigeria, include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. Despite their addition, these nations are not yet full members of the bloc. A post on X (formerly Twitter) from BRICS on Wednesday read: “BRICS officially adds 13 new nations to the alliance as partner countries (not full members).”
This move comes after BRICS granted full membership to Iran, Egypt, Ethiopia, and the United Arab Emirates in January 2024. These four countries are attending their first BRICS summit as full members at the ongoing gathering in Russia.
The BRICS organization, initially formed by Brazil, Russia, India, and China (BRIC) in 2009, added South Africa in 2010, rebranding the group as BRICS. Its core mission is to promote trade, investment, development, security, and cooperation among leading emerging market economies.
The 2024 summit, themed “Strengthening Multilateralism for Fair Global Development and Security,” marks the bloc’s sixteenth annual meeting and aims to deepen economic collaboration with key emerging nations.
Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, has long hinted at the country’s desire to align more closely with BRICS. Last year, Tuggar said Nigeria planned to seek full membership in BRICS and also expressed the nation’s aspirations to join the G20, citing Nigeria’s large economy and population as qualifying factors.
While Nigeria’s Vice President Kashim Shettima attended the 2023 BRICS summit in South Africa, the country did not push for membership at that time. However, Tuggar reiterated in September 2024 that Nigeria’s interest in BRICS remains strong, noting that the decision to formally apply would be made “at the right time.”
