Nigeria has officially been accepted as a “partner country” of the BRICS group of developing economies. This announcement was made by Brazil, the current chair of the BRICS bloc.

Nigeria has officially been admitted as a “partner country” of the BRICS group of developing economies, according to a statement from Brazil, the current chair of the bloc.

BRICS, which was originally formed in 2009 by Brazil, Russia, India, and China, welcomed South Africa as a member in 2010. The group was established as a counterbalance to the influence of the Group of Seven (G7) leading industrialized nations.

In the previous year, the BRICS bloc expanded by adding Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE). Saudi Arabia has also received an invitation to join, while Turkey, Azerbaijan, and Malaysia have formally applied for membership. A number of other countries have also expressed interest in becoming part of the group.

With Nigeria's admission, it now becomes the ninth BRICS partner country. The group already includes Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.

Brazil's government highlighted that Nigeria, with the world’s sixth-largest population and the largest population in Africa, is also one of the continent’s major economic players. This shared economic and demographic importance aligns Nigeria with the interests of other BRICS members. The statement further emphasized that Nigeria plays an active role in bolstering South-South cooperation and in efforts to reform global governance, both of which are key priorities during Brazil’s presidency of BRICS.

In recent developments, U.S. President-elect Donald Trump threatened last year to impose 100% tariffs on BRICS nations if they acted to undermine the U.S. dollar. In response, the BRICS leaders have reiterated their commitment to introducing an alternative payment system, one that would not rely on the U.S. dollar.