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So what chances are there left for Nigeria to get into BRICS?

So what chances are there left for Nigeria to get into BRICS?

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Even after receiving a rejection the first time it applied, Nigeria’s eyes are apparently still set on the BRICS club. It still wants to get in, and it wants to get in now! Yussuf Tuggar, the country’s Foreign Affairs Minister and the man in charge of the mission, tells us he is very serious about this ambition. As they continues to wreak havoc on the US dollar and US economy, the BRICS nations have also been looking to expand.

Now, this isn’t a first rodeo for the bloc. Last year, they threw open the doors, inviting six countries to join their exclusive party, with five actually taking the plunge. Clearly, BRICS is all about shaking up the status quo, especially with their whole de-dollarization gig. Fast forward to now, and Nigeria’s hoping to be part of the next wave of expansion.

But why Nigeria, you ask? Well, the African giant is looking to beef up its economic ties, especially with Russia, a key player in the BRICS. Tuggar’s been quite vocal about the mutual benefits this partnership could bring.

With over 25 countries itching for a spot, Nigeria’s bid is anything but a walk in the park, but the gag is we hear whispers that the country might just be on the shortlist for 2024, thanks to its efforts in strengthening diplomatic and economic ties with Russia. Tuggar actually took a trip to Russia not long ago as part of the strategy, as Nigeria is also eyeing a permanent spot on the United Nations Security Council. Talk about aiming high, am I right?

During his visit, Tuggar expressed gratitude for Russia’s support under President Bola Ahmed Tinubu’s leadership. The goal here is to ensure Nigeria, and by extension, Africa, gets a fair shake at global decision-making tables.

The bond between Nigeria and Russia has been solid since 1960, built on mutual support and respect. Tuggar highlighted the grain export issue, pointing out how the Russia-Ukraine conflict impacts Africa’s food security.

Let’s not forget the economic angle. Tuggar talked up the Ajaokuta Steel Company and the Aluminium Smelting Company, showcasing Nigeria’s industrial ambitions. The cooperation extends to nuclear energy, with plans for nuclear power plants in Nigeria, thanks to an agreement with Russia’s ROSATOM.

Military and defense cooperation also got a shoutout, highlighting the depth of the Nigeria-Russia partnership. From intelligence sharing to combat terrorism and insurgency, to historical support during the Nigerian Civil War, this relationship is multifaceted, touching on security, education, and economic development.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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