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BRICS
Nigeria has officially joined BRICS as a partner country, alongside 12 other nations, further strengthening its economic ties with the intergovernmental bloc.
The Russian President, Vladimir Putin has urged members of the BRICS bloc (Brazil, Russia, India, China, and South Africa) to adopt cryptocurrencies and other alternative digital monies in their financial transactions to lessen the reliance on the US dollar.
On the international front, the BRICS bloc made up of Brazil, Russia, India, China and South Africa alongside six other countries including Iran, Saudi Arabia, the UAE, Egypt, Argentina and Ethiopia are pushing the agenda to de-dollarizing their respective economies.
Prof. Jonah Onuoha, an academic expert, has emphasized the importance of closer collaboration among the 55 member nations within the African Union (AU) in their pursuit of a unified currency.
The BRICS Group has extended membership invitation to six countries - Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates - to become new members of the bloc.
Vice President Kashim Shettima has said that empowering MSMEs to boost Nigeria's economic growth is a key focus for President Bola Tinubu.
BRICS, the emerging economies bloc comprising Brazil, Russia, India, China and South Africa, discussed the expansion of the bloc in the ongoing summit held at the Sandton Convention Centre in Johannesburg, South Africa.
BRICS alliance has begun in South Africa. Presently consisting of Brazil, Russia, India, China, and South Africa, the alliance aims to evolve into a "BRICS plus" entity, welcoming numerous new members into its fold.
The South African Consulate in Lagos has called on Nigerian businesses to take advantage of South Africa’s hosting of the regional economic group, BRICS, an acronym for Brazil, Russia, India, China, and South Africa, this August.
BRICS have proven that they are a force to be reckoned with on the global economic stage as they play a great role in the scheme of things.