News Update
Nigeria has officially joined BRICS as a partner country, alongside 12 other nations, further strengthening its economic ties with the bloc.
This announcement was made at the ongoing BRICS summit in Kazan, Russia, held from October 22 to 24, 2024.
Nigeria’s inclusion comes after significant surge in foreign capital inflows from BRICS nations, which rose by 189% in the first half of 2024, reaching $1.27 billion, compared to $438.72 million during the same period in 2023.
The 12 additional countries joining as partner nations include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.
These countries, including Nigeria, were added as partner countries and not full members. Also the name of Noheria could be seen written in Hausa language on the proposed foreign reserve currency note of BRICS.
A post on X (former Twitter) from the bloc on Wednesday read, “BRICS officially adds 13 new nations to the alliance as partner countries (not full members).”
This follows the full membership earlier granted to Iran, Egypt, Ethiopia, and the United Arab Emirates in January 2024.
These four countries attended their first BRICS summit as full members at the 2024 gathering in Russia.