Evaluating the Potential Impact

In recent discussions surrounding the BRICS alliance, Nigeria’s potential membership has emerged as a topic of interest. Despite the recent admission of six new members – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE – Nigeria did not join, prompting speculation about its intentions regarding BRICS.

Nigeria’s Minister of Foreign Affairs, Yussuf Tuggar, has hinted at the country’s intention to apply for BRICS membership in 2024. However, he emphasized the need for a thorough evaluation and consultation process involving key stakeholders such as the economic advisory council, the Federal Executive Council, and the National Assembly before making a decision.

Joining BRICS could have significant implications for Nigeria’s economy and foreign policy. The alliance, representing billions of people across four continents and a quarter of the world’s wealth, could offer Nigeria opportunities to strengthen its economic ties with Russia and other member countries.

While Nigeria’s potential membership in BRICS is still being considered, it is clear that the country is actively exploring this possibility. The coming months will be crucial in determining whether Nigeria will become the next nation to join BRICS and what this would mean for its position in the global arena.