- Writer, Isiyaku Muhammed
- Name the person who wrote the story, BBC News
On Friday, information from the Ministry of Affairs of Nigeria revealed that Nigeria has joined the ranks of international countries that have joined the Brics economic group as an honored member.
This year’s Brics meeting of emerging economies, which took place from October 22 to 24 in Russia, started the debate on whether or not to join the group.
This year’s meeting, which was attended by the president of the World Council, Antonio Guterres, brought a new change, where the new members of the organization, which have great economies such as China, Turkey and Saudi Arabia, attended.
Reports indicate that Russia has stepped forward to host the event to show its strength to the West.
Currently, only three African countries are in the group: South Africa, Egypt and Ethiopia.
For small countries whose economies are developing, it is seen that joining the Brics group will give them an opportunity to develop their economy, to enter into trade relations and to get easy credit from the major countries of the world.
The entry of the three African countries into the group led to the beginning of thinking and predicting the benefits that Africa as a whole will get from the group.
But being in Africa, Nigeria is seen as a very important country, especially in the economic sector, then the news will join the group and please others.
However, the fact that every country that joins the group, and every group of countries has its own interests, this is why there is a debate on what benefit Nigeria will get from joining the group.
Original image, Getty Images
What profit will Nigeria get in Brics?
Regarding whether there is an impact that Nigeria will have, the BBC contacted Professor Tukur Abdulkadir of Kaduna State University, where he said that this is a great opportunity for Nigeria.
“There is a lot of benefit in joining the Brics group because it is an organization whose influence is becoming more visible, and its importance is becoming more and more accepted, especially among developing countries because there are provisions that the group has to deal with the stress problems of the big ones. countries, especially Western Europe and North America and international financial institutions such as the World Bank and the IMF and the influence of the US dollar in the world economy.” Professor Tukur said.
The professor added that, “I read in a newspaper that the finance minister of Nigeria said that Nigeria will adopt plans to reduce the use of the dollar in its commercial and economic system,” he said, adding that the world is doing the same. do.
“For example, Iran is facing economic sanctions from the United States and some of its Western allies, but it sells manta to Iran’s countries such as China and India, and their countries use them.”
He said that Nigeria can use this as an opportunity, “but then the leaders of the country think like that. But it is in line with the political situation of the world.”
Regarding how almost everything in Nigeria’s affairs is based on the dollar, which has made some people fear that withdrawing from the dollar could put the country in trouble, the professor said that this is the biggest profit that Nigeria will get.
“If its leaders wake up from the confusion they are in to embrace capitalism 100 percent and how they mistreat the West and the world economic institutions. she is 100 percent, others are supporting their people.”
On the other hand, it is seen that the Brics group is against the western countries, which is why it is feared that the countries that are part of the group may face challenges from the western countries.
In this regard, the professor said, “Nigeria, if there is good governance, is more powerful than being a pawn of other countries. A country with over 200 million people and a lot of wealth, and everything that is needed for the country to develop in the 21st century, it has it. Therefore, it only lacks good leadership.”
“It is the current leaders who think that the country will not develop unless it becomes a pawn. This is the weakness of Nigeria, not joining the union. And the world needs competition between the big countries and the financial institutions because that is what will limit it. the influence of those who dominate the economy and use their money as a weapon in this century.”
