By Victor Akan
Nigeria has officially joined the BRICS group as a partner nation, alongside 12 other countries, at the ongoing BRICS summit in Kazan, Russia, held from October 22 to 24, 2024.
This move marks a significant step in strengthening Nigeria’s economic relations with the influential intergovernmental bloc.
Nigeria’s inclusion comes amid a notable rise in foreign investments from BRICS countries, which surged by 189% in the first half of 2024, reaching $1.27 billion, compared to $438.72 million during the same period in 2023.
BRICS Expands with 13 Partner Nations
Along with Nigeria, 12 other nations have also joined BRICS as partner countries. These include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. However, these new entrants are not full members of the bloc.
A post on X (formerly Twitter) from the BRICS official account confirmed, “BRICS officially adds 13 new nations to the alliance as partner countries (not full members).”
This announcement follows the full membership earlier granted to Iran, Egypt, Ethiopia, and the United Arab Emirates in January 2024. These nations attended their first BRICS summit as full members in Kazan.
BRICS’ Evolution and Global Mission
Initially formed in 2009 by Brazil, Russia, India, and China (BRIC), the bloc was rebranded as BRICS in 2010 following South Africa’s inclusion. The group’s core mission is to promote trade, investment, development, security, and cooperation among the world’s leading emerging economies.
The 2024 summit, themed “Strengthening Multilateralism for Fair Global Development and Security,” marks the sixteenth gathering of the bloc, aiming to deepen economic integration with key emerging nations.
Nigeria’s Path to BRICS
Nigeria’s engagement with BRICS has been developing over recent years. In November 2023, the Minister of Foreign Affairs, Yusuf Tuggar, indicated that Nigeria was planning to become a full member of BRICS within two years, citing the country’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 full membership at the time. New members, including Ethiopia and Egypt, were admitted from Africa.
However, in September 2024, Tuggar reiterated Nigeria’s interest in joining BRICS, noting that the Bola Tinubu administration is carefully considering the right time to make a formal application.
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