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.
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.
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