World
Experts Advise Nigeria to Join BRICS
By Kestér Kenn Klomegâh
Nigeria is considered an economic power in West Africa, and it runs in the third position behind Egypt and South Africa. While expert opinions suggest it qualifies for BRICS (Brazil, Russia, India, China and South Africa), an association of emerging economies that primarily seeks to promote economic cooperation and development among its members, Nigeria maintains that it can only make such a decision over the next two years.
Last August 2023, BRICS admitted six new members Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates into its fold at its 15th annual summit in South Africa. However, Argentina later cited multiple reasons and declined to join from January 1, 2024. In official speeches, Russia always describes Ethiopia as the poorest, but a strategic partner in Africa.
Russia has taken over the BRICS presidency in 2024 and one of its priorities is the process of expanding its membership. This step represents an important stage in the further development and strengthening of the BRICS position on the world stage. Furthermore, Russia’s leadership of BRICS could catalyze the development of Africa. Opportunities related to investment, education, policy and cooperation have the potential to change Africa’s development trajectory.BRICS is currently discussed in the context of its prospects for cooperation with countries of the Global South.
President of the Global Migration Research Institute (GMRI), Professor Williams Ijoma, has said it is time Nigeria joined the League of Nations in BRICS (Brazil, Russia, India, China and South Africa) bloc to rescue Nigeria from the clutch of poverty and open opportunities for rapid development, according to the report in Guardian newspaper.
He spoke at a one-day summit on BRICS themed ‘BRICS + and Global South: Problems and Prospects’ organized by Upriver Needy’s Empirical Solution Centre (UNESCO), Foundation in partnership with the Universal Migration Enlightenment Centre (UMEC) in Abuja, Nigeria.
He insisted that Nigeria, as a member of the global south, must join BRICS because global trend shows that the bloc has already overtaken the G7 bloc (Canada, France, Germany, Italy, Japan, United Kingdom and the United States of America), in terms of share of the total global Gross Domestic Products (GDP), as per Purchasing Power Parity (PPP).
“BRICS is a very important organization that will enhance the economy of Nigeria because Nigeria has got all it takes to be a world power. We have the raw materials and we have the human resources and I believe that joining BRICS will boost Nigeria’s economy,” he said at the summit.
According to BRICS, the GDP of their member accounts for 31.5 per cent of global GDP as of 2023, compared to the 30.7 per cent of the G7 nations. “Nigeria joining this organization is a gateway to boost its influence around the world, no doubt about it. This is based on the abundant human and natural resources to leverage in the country,” he said.
Professor Williams Ijoma pointed out that the BRICS nations offered a source of foreign expansion for firms and strong returns for institutional investors, adding that the organization seeks to deepen economic cooperation between member countries and stand in contrast to the Western sphere of power.
He noted that the present government was doing a lot to make sure Nigeria joined BRICS, pointing out that the Minister of Foreign Affairs travelled to Moscow to better the relationship between Nigeria and Russia, and also that of BRICS.
In terms of trade and what Nigeria stands to benefit from a Fellow at the Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences, Professor Maurice Okoli, explained that the BRICS partnership would allow nations to trade among themselves with their local currency without the restrictions of a single currency, the dollar for international transactions.
Professor Okoli, who is also a fellow at the North-Eastern Federal University, Russia, said that the global powers, especially the G7 countries were seen to have not done well after the Second World War but the emergence of BRIC, now BRICS+ offers a better option to developing nations in terms of economic development and terms of trade.
Hon. Kenneth Chibuogwu Gbandi, the National Deputy Chairman (Diaspora Engagement) of the African Democratic Congress (ADC), also emphasized that, like every international group, membership involves responsibilities, and potential advantages must be weighed against any challenges or commitments that come with it to be sure that Nigeria is not worse off in the end. Joining BRICS is already taking an economic alliance that is intertwined with political interest. Balancing Nigeria’s national interests with the collective goals of the BRICS group and managing geopolitical complexities may present big challenges to our traditional allies like the United Kingdom and the United States. This will, no doubt, require significant diplomatic efforts and manoeuvring.
Speakers at the summit generally noted that BRICS would emerge as a major economic power to counter the G7, hence joining the bloc held immense benefits for member countries. The experts, in their speeches, emphasized the undeniable importance of the desire of African countries for sovereignty and independent development. With rich resources and a growing consumer market, Africa provides countless opportunities for investment and comprehensive cooperation.
Why is Nigeria not yet a BRICS member?
Nigeria’s potential membership has been under serious discussion these several months. Given Nigeria’s position as Africa’s largest economy, it is expected that the economic bloc would covet the membership of Nigeria in spreading its influence. It is believed Nigeria’s foreign relations with the Western powers may be a major reason the country has not yet subscribed to BRICS membership.
Nigeria’s ties with the West led by the United States have spanned over 63 years, but this relationship in the opinions of many observers has not translated to any substantial benefits for the most populous country in Africa. It is against this background that many political scientists and economic analysts have called on Nigerian leaders to enlist the country in the forum’s membership to advance its economic interests.
The Vice President, Kashim Shettima, who represented President Bola Tinubu at the bloc’s 15th summit in Johannesburg said Nigeria has not applied to join the economic bloc. Shettima argued that President Ahmed Tinubu would have to engage the National Assembly and the Federal Executive Council before Nigeria applies for BRICS membership.
“So far, we have not applied for the membership of BRICS. And it is majorly informed by the fact that my principal President Bola Ahmed Tinubu is a true democrat that believes in consensus building,” VP Shettima said. “There are so many variables that need to be taken into cognisance. We have to evaluate so many tendencies and issues that require engagements with the economic advisory council, the Federal Executive Council, and even the National Assembly before an informed decision towards joining the BRICS would be taken.”
Early March (5-7) 2024, during his official working visit to Moscow, Nigerian Minister of Foreign Affairs Yusuf Tuggar at the joint media conference with his counterpart, Foreign Minister Sergey Lavrov, explained that “Nigeria will seek to become a member of the BRICS group of nations within the next two years as part of a new foreign policy push to have its voice heard in important global organizations.”
Talking to the news agency Sputnik on a range of issues, including potential BRICS membership, he stated, “We intend to do it. As I said before, Nigeria runs a deliberative democratic system. So there tends to be a lot of engagement with different interest groups, different internal bodies before such an action is taken.”
The West African nation will join every group that is open as long as the intentions are good, well-meaning and clearly defined, Minister of Foreign Affairs Yusuf Tuggar also said in an interview with local Russian media. “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 G-20 and all these other ones because if there’s a certain criterion, say the largest countries in terms of population and economy should belong, then why isn’t Nigeria part of it?”
Back in November 2023, Tuggar made it clear that Nigeria would seek to join BRICS within the next two years to ensure the nation’s representation and influence on the global stage, and that “the West African nation is open to joining any alliance that has constructive, well-defined goals.”
Available information about countries that have declared interest and applied to join BRICS indicated that Nigeria has applied to join the economic bloc. In an interview with an Indian news channel, WION, in March 2023, South Africa’s Foreign Minister, Naledi Pandor revealed that Nigeria was among the 12 countries that had applied to join the economic alliance.
When asked to name the countries that have applied to join BRICS, Pandor said, “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. And once we’ve shaped the criteria, we will then make the decision.”
Meanwhile, in the speech delivered at the summit, the Vice President pledged that Nigeria was ready for collaboration and partnership that guarantees a world governed by acceptable rules and norms. However, given Nigeria’s strong relationship with the West, it remains to be seen if Africa’s powerhouse would join BRICS and its new members to counterpoise the economic dominance of the United States and its allies.
BRIC is an acronym for four countries, Brazil, Russia, India and China, which formed an economic bloc in 2009 to challenge the economic hegemony of the United States and its Western allies. The addition of South Africa to the informal association in 2010 transformed the acronym into BRICS.
By Kestér Kenn Klomegâh
One year after launching a continental initiative designed to make excellence in public governance the foundation of a new drive to transform Africa, LEAD, the Africa CEO Forum’s pan-African leadership programme, takes stock of its first cohort and announces the launch of its second class. Built around a community of senior public decision-makers committed to modernising the state and to the continent’s digital transformation, this new cohort gathers for three days, from 28 to 30 August 2026, on the campus of Mohammed VI Polytechnic University (UM6P) in Rabat, Morocco.
A second cohort that confirms the programme’s durability
For its second class, LEAD brings together 50 fellows, senior public decision-makers engaged in the design and implementation of the continent’s economic and social policies. Over three days, participants take part in collective and collaborative working sessions, peer exchanges and meetings with figures from the public, business and academic spheres, in order to compare their practices and build shared responses to the major challenges of governance.
Speakers include Mehdi Jomaa, former Head of Government of Tunisia, Donald Kaberuka, Managing Partner & Founder, SouthBridge Group, and former President of the African Development Bank, Serge Ekue, President of the West African Development Bank (BOAD), Sanjay Jain, co-creator of India Stack and Director of Digital Public Infrastructure, Gates Foundation, and Mauricio Cardenas, Professor of Professional Practice in Global Leadership, Columbia SIPA, and former Finance Minister of Colombia (2012-2018).
They share their reform experience, their public policy trade-offs and their view of continental priorities. Throughout the programme, the cohort benefits from the dedicated support of Mohammed VI Polytechnic University, Asafo & Co, BOAD, BCG and the African Development Bank, LEAD partners that have chosen to invest in the transformation of African public action.
LEAD, a pan-African community serving public action
Created by the AFRICA CEO FORUM, LEAD is a leadership programme whose ambition is to reposition Africa’s administrative elite as a driver of reform, of performance and of dialogue with all the continent’s stakeholders.
Designed for senior African public decision-makers, LEAD sets out to build a lasting community of public officials able to share their experience, compare their practices and build common solutions to the major economic, technological and institutional transformations under way in Africa. That community is structured around three pillars: modernizing the state, improving public services, and strengthening cooperation between governments, development institutions and private-sector players.
From fellows to alumni: a long-term initiative
Made up of 36 fellows drawn from a range of administrations and institutions and representing 24 countries across the continent, LEAD’s first cohort demonstrated the quality and the potential of this community from its very first year. In less than twelve months, six of its members have taken a significant step forward: two have been appointed ministers, two have moved into strategic positions at the highest level of the state and two have been promoted to chief executive roles. These moves, which account for 16.7% of the first class, show the role LEAD plays as an accelerator of impact within African administrations.
By bringing together a new cohort of fellows every year, each of them joining the LEAD alumni community, the initiative follows a long-term trajectory: in time, to unite several hundred African public decision-makers around a shared culture of transparency, performance and regional cooperation.
A first year devoted to public service and digital public infrastructure
Throughout the year, the fellows devoted their work to strengthening African public action, to make excellence in public governance a central lever of transformation. An awareness campaign, run as part of Africa Public Service Day, brought to light those who, within the continent’s administrations and institutions, are concretely transforming public policy and improving the services offered to citizens.
Members of the cohort also took part in a special round table held in Kigali during the ACF 2026, in order to carry their thinking to a wider community of public and private leaders. That forum reinforced LEAD’s role as a platform for dialogue between the administrative elite and the continent’s economic players. Digital public infrastructure (DPI) formed the main thread of this first year of work.
Discussions covered issues at the heart of the digital sovereignty of African states: digital identity, payments, secure data exchange, interoperability, governance and the protection of citizens. This work examined the conditions under which African states are developing, in some cases, and can develop, in others, shared, open infrastructure robust enough to improve the quality of public services while supporting local innovation and preserving the capacity of public authorities to set the rules of the game.
A white paper to move from consuming technology to creating value
This year of work concludes with the publication, in collaboration with BCG, LEAD’s Knowledge Partner, of a white paper on Africa’s place in the digital economy and in artificial intelligence. With the digital economy still accounting for around 5% of African GDP, against close to 15% worldwide, the paper calls on the continent to shift from a logic of technology consumption to one of value creation.
The white paper identifies three structuring priorities for African public actors:
- Building shared digital infrastructure that serves as the backbone of public services and private innovation.
- Pooling investment in order to reach critical mass and avoid the fragmentation of efforts across the continent.
- Favouring open and interoperable architectures, with trust and governance built in by design, so as to protect citizens while stimulating the entrepreneurial ecosystem.
The white paper is available here to all public decision-makers, technical partners and institutions concerned.
“LEAD’s first cohort confirms a simple conviction: Africa already has the women and men capable of profoundly transforming public action. Our responsibility, either with our partners, is to give them, at pan-African level, a space in which to compare experience, build common solutions and bring forward a new generation of public policy. With this second cohort, we want to accelerate the move from ambition to execution, in particular on digital public infrastructure and artificial intelligence, two decisive issues for sovereignty, for the effectiveness of the state and for value creation across the continent,” says Amir Ben Yahmed, President of the Africa CEO Forum.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
