Nigeria Joins BRICS as Partner Country

Nigeria has become a partner country of the BRICS emerging market powers group, acting foreign affairs ministry spokesperson announced on Saturday.

BRICS, which groups Brazil, Russia, India, China and South Africa, has been seeking to expand in recent years as its influence has grown and it has accepted other countries, including Egypt, Ethiopia, Indonesia and the United Arab Emirates. The group also includes a number of partner countries, including Malaysia and Thailand, according to Bloomberg.

The expanded alliance could challenge the dollar’s ​​dominance in oil and gas trade and become a powerful counterweight to the Group of Seven industrialized nations, according to the German news agency (dpa).

Earlier this month, Reuters reported that Indonesia would formally join the BRICS group of major emerging economies as a full member.