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Home Business News

BRICS Membership brings benefits in trade, investments, and agriculture to Nigeria – Presidency 

Olalekan Adigun by Olalekan Adigun
January 20, 2025
in Business News
Tinubu sacks five ministers, appoints seven new ones amid cabinet reshuffle  

President Bola Tinubu

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Nigeria’s alignment with BRICS (Brazil, Russia, India, China, and South Africa) as a partner member offers significant advantages across critical sectors such as trade, investments, and agriculture.

This is according to Daniel Bwala, Special Adviser to the President on Public Communication and Media.

Speaking on Channels TV’s Sunrise Daily on Monday, Bwala highlighted the economic and developmental opportunities this relationship fosters.

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“A partner member means that a country can participate in areas of interest with BRICS,” Bwala explained.  

“These areas include promoting trade and investment, food security, infrastructural development, and climate change adaptation. These collaborations and partnerships are essential in navigating global economic realities.” 

Bwala emphasized that Nigeria’s participation as a partner allows it to engage with BRICS nations on various initiatives, going beyond traditional bilateral agreements.

“The areas of interest are promoting trade and investment, food security because it’s part of what the climate change … food security, infrastructural development, trade and investment, are all part of this collaboration, engagement and partnerships that the global community tend to promote depending on the bloc that you belong to,” he said. 

Nigeria reaping benefits 

The Special Adviser pointed out specific areas where Nigeria has already begun reaping benefits. In agriculture, for instance, Nigeria has gained from collaborations with Russia, a nation recognized for its robust agricultural systems and food security programs.

Similarly, China’s contributions to infrastructure and technology have significantly impacted Nigeria’s development, particularly in building critical infrastructure and advancing digital innovation.

“In the area of trade and investment, if you see some of the member countries look at China and Russia. Russia in agriculture, we’ve benefitted a lot from them. China, of course, in infrastructure, in tech,” he said. 

Bwala also noted the importance of food security in Nigeria’s BRICS collaboration.

As global climate challenges intensify, BRICS offers a platform for innovative solutions to agricultural productivity and sustainable farming practices. Nigeria’s growing engagement with Russia, a leader in global grain exports, strengthens its capacity to address food shortages and meet domestic demands.

Backstory 

Nigeria officially joined BRICS as a partner country last week as confirmed by Brazil’s Foreign Ministry.

“In its capacity as the pro tempore presidency of BRICS, the Brazilian government announces today, January 17, 2025, the formal admission of Nigeria as a partner country of the grouping. The Brazilian government welcomes the Nigerian government’s decision.” 

With this inclusion, Nigeria becomes the ninth partner country of BRICS, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. This partner-country category was established at the 16th BRICS Summit held in Kazan in October 2024.

Tags: BRICS
Olalekan Adigun

Olalekan Adigun

Olalekan Adigun is a seasoned political analyst and writer with extensive experience in crafting compelling narratives and executing strategic initiatives. Known for his insightful commentary on governance, policy, and socio-economic issues, he has contributed to various national and international platforms.

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