Nigeria Admitted As a Partner-Country In BRICS
Nigeria has been admitted as a “partner country” of the BRICS bloc of developing economies.
BRICS was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010, as a counterweight to the Group of Seven leading industrialized nations.
Last year, the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has been invited to join.
Nigeria becomes the ninth BRICS partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
Even with US President-elect Donald Trump last year threatening a 100% tariffs against BRICS if they act to undermine the U.S. dollar, the bloc’s leaders have voiced their commitment to introduce an alternative payment system that would not be dependent on the dollar.
Although Some experts have raised concerns about what it means to be a partner country. They have also questioned if that is the best for Nigeria’s standing globally.
