Brazil, the current head of the Brics bloc of developing economies, has announced that Nigeria has been accepted as a “partner country.”
South Africa joined the Brics alliance in 2010 which was first established in 2009 by Brazil, Russia, India and China. The bloc was created to act as a check on the dominant industrialized countries of the Group of Seven.
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The goal of BRICS is to increase member nation’s collaboration. It emphasizes economic development and expansion. The involvement of Nigeria could improve South-South collaboration. The alliance offers a forum for discussion and cooperation. It assists participating nations in tackling shared issues.
Nigeria’s arrival might open up new business and investment prospects.
