Nigeria is seeking membership in the BRICS and G20 group of nations to enhance its global influence and assert itself as a significant player on the world economic stage.
The West African nation is also interested in joining other beneficial groups with positive intentions and well-defined goals, according to the country's Minister of Foreign Affairs, Yusuf Tuggar.
"Nigeria has come of age to decide for itself who her partners should be and where they should be. Being multiple aligned is in our best interest," Tuggar said.
"We need to belong to groups like BRICS, like the G20 and all these other ones because if there are certain criteria. Say, the largest countries in terms of population and economy should belong, then why isn't Nigeria part of it?"
BRICS started only with Brazil, Russia, India and China before adding South Africa - the continent's most industrialized nation - one year after its commencement. The group aims to transform the global economic landscape and establish dominance by expanding its economic influence.
The bloc is due to expand its membership after inviting Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates shortly after its annual summit in August earlier this year. These new members will officially join on January 1, 2024. About 40 other countries have reportedly also expressed interest in joining the bloc.
The expansion of BRICS is expected to amplify its economic influence globally. It could reduce the influence of U.S.-led financial institutions, such as the World Bank and the International Monetary Fund (IMF), especially for nations seeking to lessen their reliance on the West.
The bloc currently represents over 40 percent of the world's population and 26 percent of the global economy. According to data from the IMF, BRICS holds a 32.1 percent share of global GDP.
Nigeria, BRICS and G20
Nigeria, Africa's largest economy, was expected to be among one of the new countries that joined BRICS when it announced its new members a few months ago. However, the country was not among the six new members named. Two other African countries, Ethiopia and Egypt, meanwhile, were admitted.
The outcome raised many questions, with some analysts speculating the country had been rejected due to its strong foreign relations with Western powers.
Nigeria has had close ties with the West, mainly the U.S., for over 63 years, but many observers argue that Nigeria has not reaped significant benefits from the relationship.
Nigerian Vice President Kashim Shettima, who represented President Bola Tinubu at the bloc's 15th summit in Johannesburg, later clarified that Nigeria has not formally applied for BRICS membership.
Shettima asserted that President Tinubu must consult with the Nigerian National Assembly and the Federal Executive Council before initiating the application process.
During a guest appearance at G20's New Delhi summit in September, President Tinubu himself said that Nigeria had yet to apply for BRICS membership.
"We have made no application to BRICs or the G20 as of today. Our consideration is based on empirical analysis. It's not based on sentiment or emotion. It's about whether or not it will serve the national interest in the national economy of the Federal Republic of Nigeria," read a statement by Nigeria's special adviser to the president on media and publicity, Ajuri Ngelale.
However, Naledi Pandor, South Africa's foreign minister, said in a March interview with the Indian news channel WION that Nigeria was among the 12 countries that had expressed interest in joining the economic bloc at that time.
"They've come out publicly. Saudi Arabia is one, the United Arab Emirates, Egypt, Algeria, and Argentina. So, it's a growing list of Mexico and Nigeria. So, there's huge interest worldwide," Pandor said.