Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, has reaffirmed the country’s interest in joining BRICS, an influential economic bloc that includes Brazil, Russia, India, China, and South Africa. Tuggar made this announcement during an appearance on Channels Television’s political program, Politics Today, on Sunday.
In August 2023, Vice President Kashim Shettima represented President Bola Tinubu at the 15th BRICS Summit held at the Sandton Convention Centre in Johannesburg, South Africa. This attendance has heightened speculation about Nigeria’s intentions regarding the bloc, which aims to serve as a counterbalance to Western economic powers.
Tuggar clarified that while Nigeria has not formally applied to join BRICS, the country plans to do so “at the right time.” He emphasized that joining the bloc is on the agenda of the Tinubu administration. The BRICS group has recently expanded, welcoming Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE) as members effective January 1, 2024.
With over 40 countries expressing interest and 23 formally applying for membership, this expansion is viewed as a strategy to reshape global governance and amplify the voices of the global south in the new world order.
“We’ll join when the time is right. We never said we are not joining BRICS. It is about timing. We have already indicated our interest in joining but we have not formally written,” Tuggar stated. “We will do so at the right time when it is the most advantageous for us to do so. There are a lot of reforms going on internally for us to be able to make that move.”
Tuggar noted that President Tinubu recently visited China, and Vice-President Shettima had also engaged with Chinese officials. In these discussions, Nigeria made its interest in joining BRICS clear.
The minister further clarified that Nigeria is not currently negotiating debt forgiveness with China. During the recent 79th session of the United Nations General Assembly (UNGA) in New York, Vice-President Shettima advocated for reforms in the international financial system, calling for “comprehensive debt relief measures” to ensure sustainable development financing.
When asked if Nigeria had initiated discussions with China regarding debt relief following Tinubu’s recent meeting with Chinese President Xi Jinping, Tuggar confirmed that no such talks were taking place. “No, that is not what we are discussing with China. And when it comes to the issue of debt, look at the debt-to-GDP ratio of Nigeria; we are not even among the critically indebted nations,” he explained.
Tuggar added, “As a matter of fact, China is prepared to lend more and invest more in Nigeria in terms of infrastructure development and other areas.”