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BRICS formally admits Nigeria as partner country

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The Brazilian government has officially announced the admittance of Nigeria as a partner country in the multinational bloc known as BRICS.

The admission was disclosed in a statement issued by the Brazil Foreign Ministry on Friday.

According to Brazil, BRICS and Nigeria share common interests, as both collectively work to enhance cooperation among Global South countries and advocate for the reform of international organisations.

“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.

“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,” the statement said.

The economic block (BRICS), was formed by Brazil, Russia, India and China in 2009 as a counterweight to the Group of Seven (G7) leading industrialised nations.

South Africa was later added in 2010.

Last year the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates.

Nigeria becomes the ninth BRICS partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.

Moreover, US President-elect Donald Trump last year threatened 100% tariffs against BRICS if they act to undermine the United States dollar.

The bloc’s leaders have voiced their commitment to introduce an alternative payment system that would not be dependent on the dollar.