Nigeria Joins BRICS as Partner Country and Potential Contributor to Proposed Reserve Currency

Nigeria has officially joined the BRICS bloc as a partner country, alongside 12 other nations, marking a pivotal step in strengthening its economic ties with the group.

The countries that have joined as partners include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

This development comes amid discussions within BRICS about establishing a new reserve currency, potentially backed by gold, to reduce global dependence on the US dollar.

Although Nigeria is not a full member of BRICS, its partnership status allows it to engage more closely with the bloc's initiatives, including the exploration of alternative currencies for trade. The move aligns with Nigeria's broader economic strategy to diversify its international partnerships and enhance its financial sovereignty.