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In a significant development, Nigeria has been formally admitted as a partner country of the BRICS bloc, according to Brazil, the group’s current chair. This move is expected to enhance Nigeria’s influence in global economic discussions and reinforce South-South cooperation.
BRICS: A Growing Powerhouse
Initially established in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010, BRICS has grown to counterbalance the Group of Seven (G7) industrialised nations. Over the years, the bloc has expanded to include additional members such as Iran, Egypt, Ethiopia, and the United Arab Emirates. Nigeria now becomes the ninth BRICS partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
With the inclusion of Nigeria, BRICS now comprises ten full members and nine partner countries, collectively representing 54.6% of the world’s population and 42.2% of global GDP measured at purchasing power parity (PPP), according to October 2024 IMF data.
Nigeria’s Role and Influence
As Africa’s largest country by population and its second-largest economy, Nigeria’s entry into BRICS aligns with its strategic goals of fostering economic growth, enhancing regional integration, and promoting South-South cooperation. Nigeria’s significant oil reserves further bolster its strategic importance, as the country remains Africa’s top oil producer and the 15th-largest globally.
Brazil’s government highlighted Nigeria’s active role in reforming global governance and advancing South-South partnerships, priorities central to BRICS’ mission under Brazil’s presidency.
BRICS’ Expanding Membership
The BRICS bloc continues to attract interest from countries seeking alternatives to traditional Western-dominated economic systems. During the 2024 summit in Kazan, Russia, BRICS adopted a comprehensive plan to challenge the dominance of the US dollar and promote trade in local currencies.
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In early January 2025, Indonesia became a full member of BRICS, further solidifying the bloc’s global influence. Ten of the world’s 20 most populous nations, including seven of the top ten, are now part of the BRICS+ framework.
Nigeria’s Population and Economic Growth
Nigeria, with the world’s sixth-largest population, is projected to experience the second-highest population growth globally in the next decade, adding 65 million people by 2037. Lagos, Nigeria’s largest city, is anticipated to become one of the world’s leading megacities by the end of the century.
Economically, Nigeria’s GDP at PPP exceeds that of the Netherlands, while BRICS member Egypt has a GDP larger than Australia’s. With the addition of Nigeria, BRICS strengthens its position as a major player in global commodities markets, particularly in oil production. BRICS members collectively account for over 30% of global oil production, with significant overlap with OPEC+.
Africa’s Growing Role in BRICS
Nigeria’s admission into BRICS is part of a broader trend of increasing African representation within the bloc. Ethiopia and Egypt became full members in 2024, joining South Africa, which has been a BRICS member since 2010. Together, these nations represent the three most populous countries in Africa, further amplifying the continent’s voice on the global stage.
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Africa’s importance is expected to grow significantly in the 21st century. By 2100, Africa is projected to account for 38% of the world’s population, up from 18% today. This demographic shift underscores the strategic value of African nations in shaping global economic and political landscapes.
Looking Ahead
As BRICS continues to expand, the bloc’s influence in global economic governance is poised to increase. Nigeria’s inclusion as a partner country marks a significant step in advancing Pan-African unity and promoting economic growth across the continent. With its vast population, robust economy, and strategic resources, Nigeria is well-positioned to play a pivotal role in shaping the future of BRICS and the global South.
The Brazilian government, as the current BRICS chair, has congratulated Nigeria on its admission and emphasised the importance of collective efforts to reform global governance and strengthen South-South cooperation. China, a founding BRICS member, has also extended its congratulations, reaffirming its commitment to fostering partnerships within the bloc.
Nigeria’s entry into BRICS signals a new chapter for Africa’s integration into the global economy, paving the way for a more equitable and multipolar world order.
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