Foreign Affairs Minister, Yusuf Tuggar
Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, has reaffirmed the country’s intention to join BRICS, the influential economic bloc made up of Brazil, Russia, India, China, and South Africa.
During an appearance on Channels Television’s political program Politics Today on Sunday, Tuggar stated that while Nigeria has not yet formally applied to join BRICS, the administration of President Bola Tinubu has expressed its interest in becoming a member at the appropriate time.
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Tuggar’s remarks came after Vice President Kashim Shettima attended the 15th BRICS Summit in August 2023, representing President Tinubu at the event held at the Sandton Convention Centre in Johannesburg, South Africa.
His attendance sparked speculation about Nigeria’s potential membership in the bloc, which has positioned itself as a counterbalance to Western economic powers.
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“The idea of joining BRICS is on our radar, and we will join at the right time,” Tuggar said.
“We’ve indicated our interest, but we have not yet made a formal application. Timing is crucial, and we want to ensure that when we do join, it is the most beneficial move for Nigeria.”
BRICS has recently expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), effective from January 1, 2024.
With over 40 countries expressing interest and 23 formally applying, the expansion is seen as an effort to enhance the influence of the global south in global governance.
Tuggar added that Nigeria is undergoing significant internal reforms to position itself for BRICS membership and reiterated that the Tinubu administration is keen on making the move when the conditions are optimal.
In the same breath, Tuggar clarified that Nigeria is not currently in talks with China regarding debt forgiveness.
Responding to questions about the nation’s financial dealings with China after President Tinubu’s recent meeting with Chinese President Xi Jinping, he assured that no such discussions were underway.
“Debt relief is not the issue we are discussing with China,” Tuggar explained.
“Nigeria is not in a critically indebted position. In fact, China is prepared to lend and invest more in Nigeria, particularly in infrastructure development and other sectors.”
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Tuggar also highlighted Nigeria’s strong economic standing, pointing out that the country is not among the most highly indebted nations globally, dismissing concerns over the nation’s debt-to-GDP ratio.
