Nigeria has become the latest country to join the BRICS bloc of developing economies as a ‘partner country,’ the Ministry of Foreign Affairs announced in a statement released in Abuja by Acting Spokesperson, Kimiebi Imomotimi Ebienfa.
“The Federal Government of Nigeria has accepted the invitation to join BRICS as a partner country,” Ebienfa stated.
“BRICS, as a collective of major emerging economies, presents a unique platform for Nigeria to enhance trade, investment, and socio-economic cooperation with member countries.”
The West African nation is now the ninth partner country of BRICS, joining the likes of Uganda, which joined on January 1 2025, alongside Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, and Uzbekistan and the move received praise from current chair Brazil.
“With the world’s sixth-largest population – and Africa’s largest – as well as being one of the continent’s major economies, Nigeria shares convergent interests with other members of BRICS,” Brazil’s government said in a statement.
“It plays an active role in strengthening South-South cooperation and in reforming global governance – issues that are top priorities during Brazil’s current presidency.”
🇺🇬 BRICS | Uganda Becomes the First Country in East Africa to Join #BRICS
Combined, the nine BRICS members and the additional nine BRICS partners account for over 41% of the global GDP, measured in terms of purchasing power parity (PPP).https://t.co/7DveNOD73i @BRICSinfo pic.twitter.com/up5vY1vsSR
— BitKE (@BitcoinKE) January 6, 2025
With the inclusion of the partner states, BRICS now encompasses 10 of the 20 most populous countries in the world with Nigeria joining the list.
Together, these nations account for a combined population of approximately 4 billion people, representing nearly half of the global population.
Combined, the nine BRICS members and the additional nine BRICS partners account for over 41% of the global GDP, measured in terms of purchasing power parity (PPP).
The increasingly powerful bloc is advocating for the establishment of an independent payment system based on their national currencies to get away from a United States-led financial hegemony.
Besides Russia, more than 60 percent of all low-income countries are under some form of financial penalty from the U.S, which in 2024, as reported by BitKE, imposes three times as many sanctions as any other country or international body.
🇺🇸GLOBAL | Over 60% of Low-Income Countries, Nearly Half of the Global Population, Dealing With Sanctions, Financial Penalties from the U.S.
Today, the United States imposes 3x as many sanctions as any other country or international body, targeting a third of all nations with… pic.twitter.com/CgNGZvvUNK
— BitKE (@BitcoinKE) July 31, 2024
But incoming American President, Donald Trump, has warned that such actions would lead to serious consequences, including imposing 100% tariffs on goods from BRICS nations and limiting their access to the U.S market.
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