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    MarketForces Africa » MarketForces News » Experts Want Nigeria to Join BRICs for Economic Transformation

    Experts Want Nigeria to Join BRICs for Economic Transformation

    Julius AlagbeBy Julius AlagbeMarch 13, 2024 News No Comments3 Mins Read
    Experts Want Nigeria to Join BRICs for Economic Transformation
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    Experts Want Nigeria to Join BRICs for Economic Transformation

    A group of academicians have emphasised the need for Nigeria to join BRICS, an economic bloc comprising Brazil, Russia, India, China and South Africa for economic transformation.

    The experts made the call at a summit in Abuja on Tuesday, with the theme: “BRICS+ And Global South Collaboration; Problems and Prospects”.

    According to Prof. Williams Ijoma, President, of the United Nations Economic and Social Council Foundation, BRICS countries operate as an organisation seeking to further economic cooperation among member nations and increase their economic and political standing in the world.

    “Nigeria joining BRICS is a gateway to boost its influence around the world, no doubt about it. This is based on the abundant human and natural resources to leverage on.

    “UNESCO in collaboration with the Universal Migration Enlightenment Centre is committed to increasing public awareness of the noble goals and prospects of BRICS and its power and impact on all aspects.

    “Let me state unequivocally that Nigeria is ripe to become a member of the organisation.

    “Already, the authorities are towing the path which I consider germane in our collective bid to strengthen the naira; revive the economy and enhance good governance,” he said.

    He commended the Federal Government led by President Bola Tinubu, for his efforts to reposition the economy and make moves to join BRICS.

    He called for synergy among Nigerians to achieve the set goal of becoming a member of BRICS, thereby, putting the country back to global reckoning and freeing itself from economic strangulation policies of the West.

    Prof. Maurice Okoli, Fellow, Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences, said Nigeria joining BRICS was of great advantage.

    “Nigeria joining BRICS will not affect her membership in other organisations.

    “As a country, you can belong to so many organisations, what you are looking for is how to grow your economy to ensure your people benefit economically,” he said.

    Also, Prof. Ajibade Biodun, Founder, of Horizon International University, Nigeria, said that joining BRICS would lessen the Western grip on the country.

    According to Biodun, it is time for us to look inward for a vision able to sustain economic delivery.

    “BRICS is  the right way to go, South Africa went with BRICS years ago and has advanced economically.” #Experts Want Nigeria to Join BRICs for Economic Transformation

    Exchange Rates Unified as Naira Sees Small Gain

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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