Nigeria Joins BRICS Bloc as a Partner Country

Nigeria has been recognized as a "partner country" of the BRICS bloc, marking a significant step for the African nation's economy. BRICS, initially founded by Brazil, Russia, India, and China in 2009, expanded to include South Africa in 2010, was formed as a counterbalance to the Group of Seven industrialized countries. Recently, BRICS expanded by adding Iran, Egypt, Ethiopia, and the United Arab Emirates and extending an invitation to Saudi Arabia, with Turkey, Azerbaijan, and Malaysia applying for membership.

Nigeria is now among nine partner countries in BRICS, alongside Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. Brazil's government emphasized Nigeria's importance, noting it has Africa's largest population (it's sixth in the world) and is a key player in the continent's economy. As quoted in Brazil's statement on the addition, Nigeria "plays an active role in strengthening South-South cooperation and in reforming global governance."

President-elect Trump has previously threatened to impose substantial tariffs on BRICS if the bloc moved to challenge the dominance of the US dollar. Despite this, BRICS leaders remain committed to creating an alternative payment system that would lessen reliance on the dollar. (This story was generated by Newser's AI chatbot. Source: the AP)