Within the next two years, Nigeria intends to join the BRICS alliance.
The country will join any open group as long as its goals are well-defined, well-meaning, and good, according to Yusuf Tuggar, the Minister of Foreign Affairs, who made this revelation.
“We should be multiple aligned because Nigeria has reached a mature enough age to determine for herself who her partners should be and where they should be,” he declared.
He went on, “If there is a specific requirement, say the greatest countries in terms of population and economic should belong, then why isn’t it true that we need to be a part of groupings like BRICS, like the G-20, and all these other ones?
“We need to be in these groups, like the G-20, BRICS, and all these others,” he went on. “If there is a standard that states that the largest countries in terms of population and GDP should be in these groups, then why isn’t Nigeria in them?”
The developing market powers known as BRICS are South Africa, Brazil, Russia, India, and China. In an attempt to increase the bloc’s power, they extended invitations to join forces to Saudi Arabia, Iran, Egypt, Argentina, Ethiopia, and the United Arab Emirates in August.
The omission of Nigeria, the largest economy in Africa, from the BRICS group has drawn a lot of attention from observers who think Nigeria may benefit economically and politically from membership in the group.
Vice President Kashim Shettima pointed out in August that after the BRICS announced its new members, Nigeria did not submit an application to join.
“We have not yet applied for membership in BRICS,” he declared. And a big part of it stems from the fact that my boss, President Bola Ahmed Tinubu, is a real democrat who values reaching compromise.
“There are so many factors that need to be considered. Prior to making an educated decision about entering the BRICS, we must assess a great deal of trends and issues that call for interactions with the Federal Executive Council, the National Assembly, and the Economic Advisory Council.
Subsequently in September, the presidency declared it had not applied to join BRICS, even though it acknowledged receiving an invitation from the G-20.
It did, however, add that it will act in a way that best advances the national economy. “There are very wide and extensive consultations taking place within the government,” stated Ajuri Ngelale, Special Advisor to the President on Media and Publicity, in part of her remarks. We are weighing the advantages and disadvantages of joining the G-20.
“We have not applied to BRICS, contrary to rumors circulating,” it continued. So yet, we have not applied to the G-20 or the BRICs. Empirical investigation is the basis of our consideration. It’s not motivated by feelings or sentiments. Whether it will benefit the Federal Republic of Nigeria’s national economy is the question at hand. We are currently making that assessment.