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ARTICLE · 02 APRIL 2025

Nigeria's BRICS Membership - Implications

AELEX
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Recently, we have seen a frenzy of conversations about BRICS, its expansion and what it means for new participating countries like Nigeria.

NigeriaInternational Law
Rebecca Ebokpo
Rebecca Ebokpo
Raymond Ofagbor
Raymond Ofagbor
Shalewa Akinde
Shalewa Akinde
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Recently, we have seen a frenzy of conversations about BRICS, its expansion and what it means for new participating countries like Nigeria. It would seem as though it is a new phenomenon or the latest 'in-thing', but not so. Actually, BRICS has been an 'in-thing' since 2001, when a Goldman Sachs economist, Jim O'Neill, wrote a research paper in which he reported that the growth of the founding members of 'BRIC' (it was without the 'S' at that time) was poised to challenge the G7 wealthy economies as a result of their 'healthier environment'.

What then is all the fuss about BRICS? Why does it matter? What is important about BRICS?

Initially an investment term, BRICS has now evolved into a coalition of a loose bloc of non-Western economies. It is an informal group of states that started by comprising the Federal Republic of Brazil, the Russian Federation, the Republic of India and the People's Republic of China (the BRIC countries) in 2006. In 2010, the Republic

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