World
Brazil Steps Down as BRICS Chairman After Six Months
By Kestér Kenn Klomegâh
The BRICS group—Brazil, Russia, India, China, and South Africa—has uniquely emerged as a geopolitical player. Since its establishment, it has transformed into an informal association, struggling to re-shape the global architecture. Noticeably the world is rapidly changing from rules-based unipolar to multipolar, which can be attributed to BRICS leadership. Under Russia’s chairmanship, it had seen several activities throughout 2024, and currently Brazil, despite escalating challenges rooted at home, still managed through with innovative strategies and with robust multilateral collaborations. Brazil hands over its presidency in July (from Jan. 2025 to July 2025) after taking the baton during the BRICS Summit in Kazan, Tatarstan. Comparatively Kazan witnessed more engaging BRICS programmes and activities, both from the public and private sectors, than under Brazil’s half-a-year (six-months) leadership. The was, historically, the first time in terms of leadership duration.
At the request of Brazil, Russia headed BRICS in 2024. Brazil had proposed and Russia assumed this role in 2024. In turn, Brazil leads, but only half-way into the chairmanship in 2025. “Brazil has formally asked Russia to change the order of the BRICS presidency as an exception to Brazil’s plans to lead the G20 in 2024. Of course, we have responded positively to the Brazilian partners’ request. The agreement was supported by other members of the bloc and secured through an exchange of diplomatic notes,” the Russian ministry explained at that time.
Under Russia in 2024, significant developments, in the first place, was the expansion of BRICS, with the inclusion of Ethiopia, Egypt, Iran, and United Arab Emirates. And the re-titling BRICS+ (BRICS Plus). Reports indicated that over 30 countries were interested in joining BRICS. Russia’s chairmanship emphasized advancing multifaceted cooperation, promoting the idea of a unified BRICS financial system and a new digital currency to rival the US dollar. Despite a few controversies, the group adopted the final declaration.
In an entirely different geopolitical context, Brazil’s presidency of BRICS (Brazil, Russia, India, China and South Africa) abruptly ends in July due to multitude of internal economic and political hurdles that need to smart attention. After making unique headlines these past months, Brazil indicated the necessity to undertake explicit blend of economic reforms to preserve its political status and adopt grassroots innovation to save further nation-wide depreciation. The negative economic narratives combined with an increasing social discontent among the population also show the growing political complexities on its landscape. The assertive, and at the same time, contradictory message relates to disillusionment over unexpected handing over of BRICS chairmanship midway of the scheduled one-year period and the scaling back of admirable tasks including development priorities and future policies for BRICS set at the end of its historic administration by Russia in December 2024.
With tectonic symbolism, Brazil took over, for the fourth time, the baton of BRICS chairmanship from January 2025, pledged to assertively work towards a broader equitable economic cooperation. The leadership rotates annually among member countries. It is done in a set order, promoting equal representation and participation. The leadership transition is significant for shaping the agenda and priorities of the group. Brazil, like other BRICS members, repetitively spoken to end dollar dominance, create a single BRICS currency, express passion for dealing with critical challenges and build a multipolar world. Luiz Inácio Lula da Silva, both in tone and policy approach, have made a few changes, rolled back the association’s aggressive promotion of its laid down posture in building strategic common objectives.
For the past six months, Brazil at the helm of BRICS, has observed the ‘status quo’ – leveraged on the traditional main stream of operations including pushing for reforms in global governance and made attempts, mostly with official rhetoric, promoting sustainable development. Right from the initial stage, this ambitious agenda raised a fundamental question: whether the alliance would advance its alternative global governance vision, or would it remain primarily a forum for economic cooperation Recollecting the facts in the documents, one particular focus was set at strengthening cooperation among Global South countries. Under the theme is “Strengthening Cooperation in the Global South for More Inclusive and Sustainable Governance”, Brazilian leader, Luiz Inácio Lula da Silva, has pursued various activities within the existing constraints. In the latest, and most possibly, the last activity, as part of steps toward July’s handover, Brazil hosted from June 30 to July 7 one key event BRICS+ Open Science Week, — the Decade of Science and Technology declared by President Vladimir Putin in Russia. It was within the framework of the federal project Popularization of Science and Technology of the Scientific and Technological Development of the Russian Federation State Programme. The project aimed at promoting scientific and technical knowledge among the general public and helping people discover the wonderful world of science and establish a community of science popularizers. The main themes relate to the priority spheres of BRICS activities, namely, food security and agriculture, energy security and sovereignty, healthcare, sustainable development, AI technologies, and space exploration.
As stipulated in its documents, BRICS has set one more of the primary goals as counteracting rules-based order and western hegemony, dismantle the political and economic architecture of the United States and Europe. The group’s remarkable growing attraction and unwavering commitment to reshaping the global economic landscape offer the basis for south-south alliance. At, least, majority of the developing countries in the south are, more or less, rattles that rhetoric in theory, but in practical terms are seemingly ready to strengthen cooperation with United States and Europe.
The Global South have devoted extensive attention to food security issues, underlined cooperation with non-Western countries as a guarantors of food stability. Experts however emphasized this goal of ensuring food security is rather distinctively marked by food imports, especially developing countries including Africa. Sustainable alliances and new principles of cooperation are emerging, but developing countries are trapped in the multilateral financial networks such as the International Monetary Fund (IMF) and World Bank.
Reading further through media reports in June, Russia’s Foreign Minister Sergey Lavrov has outlined comprehensive future vision for BRICS, sounded consistently optimistic over collective collaboration based on mutual interests and equality, contrasting it with Western organizations lacking fair rules and genuine consensus. Then also the establishment of a BRICS Pay system for settlements in national currencies between the group’s members represented one more step in its economic architecture. This includes the possibility of creating a cross-border payment system and an electronic depository and clearance system (BRICS Clear), and a unified mechanism for exchanging trade and economic information.
Foreign Minister Sergey Lavrov has his own interpretation to BRICS expansion. He advocated for a little pause in further expansion, in order to accommodate the work and the new composition of BRICS − so that the group can smoothly get into the new situation with increased membership. According to Lavrov this was the common opinion. “The aspirations of many countries were taken into account when the category of partner countries was established and it is understood that the partner countries would be priority candidates for full membership,” explained Lavrov, summing up the outcomes of the BRICS Foreign Ministers Council meeting, Rio de Janeiro, April 29, 2025.
At the Kazan summit, BRICS leaders emphasized the possibility of expanding the membership of the New Development Bank (NDB). They also proposed bank’s operational portfolio. The NDB has transformed into an institution for mobilization of resources for infrastructure and sustainable development in its member countries and other emerging economies. The NDB has made some impact, but there is much room for improvement and for strengthening its model of operations.
The latest developments concerning the NDB’s operations were discussed on the sidelines of the St Petersburg International Economic Forum (SPIEF) in June 2025. Russian President Vladimir Putin held a working discussion with Dilma Rousseff, President of the New Development Bank (NDB). That discussion pointed out a few challenges and, at the same, underlined the pathways into the future. According to official reports made available by the Kremlin, Putin urged the bank to consider seriously the adoption of new financial payment systems and the possibility of settlements in national currencies. Putin further underlined the state of operations, stated that the NDB has, so far, financed approximately 120 projects worth US$39 billion.
Established in 2015 by the BRICS leaders, the New Development Bank (NDB) has since faced multitude of challenges, especially now with geopolitical changes and emerging economic hurdles. “Of course, we face a number of challenges,” Dilma Rousseff replied in her brief response. Rousseff, in addition, referred to the second very important issue, that is the expansion of membership and stakeholders, partners of the bank. As at June 2025, two countries were selected as new members: Uzbekistan and Colombia. And two more countries are still under consideration: Ethiopia and Indonesia.
According to media reports, other multilateral development institutions, including the World Bank, have expressed an intention to work together with the NDB. In May 2023, Saudi Arabia expressed its intention to join the NDB. The bank is headquartered in Shanghai, China. The first regional office of the bank was opened in Johannesburg, South Africa in 2016. Subsequently, regional offices were established in São Paulo in Brazil, Ahmedabad in India and Moscow in the Russian Federation.
Its historical records show that Brazil, Russia, India, and China held their first leaders’ summit in Yekaterinburg, Russia, in June 2009 under the name BRIC. Then South Africa joined the group in 2010. That however, Ethiopia, Egypt, Iran, Saudi Arabia, and the United Arab Emirates were invited to the 2024 summit in Russia. With the second expansion in Kazan, the acronym BRICS+ (in its expanded form BRICS Plus) is currently used reflecting newly transformed membership. In addition, it has 13 countries in the ‘partner state’ category, boosting its numerical strength and collective power.
Unbelievably the potential of BRICS has benefited greatly from expansion. The BRICS countries represent nearly half of the world’s population, and their aggregate GDP makes up about 40 percent of global GDP in terms of purchasing power parity, more than that of the G7, which means that the Global South is becoming a new pillar of support for growth. On the other side, and it must be noted that more than 60% of the population of these BRICS members have unimagineable levels of poverty, despite the enormous resources both human capital and natural resources. Considering this, it stands to reason that BRICS continues to attract the Global South and Global East countries that seek mutually beneficial partnerships and jointly raised the level of development and standard of living. Hopes are still rising high that after the 17th BRICS summit in Rio de Janeiro on July 6-7, the Global South and Global East countries continue steadfastly to contribute to the collective efforts of BRICS association in the coming years ahead, and new leadership (with its three key strategic partnership areas: politics and security, the economy and finances, culture and the humanitarian ties) would broadly create new prospects, uphold the tenets of multilateralism and open new horizons for BRICS+ group—Brazil, Russia, India, China, and South Africa.
Kestér Kenn Klomegâh has a diverse work experience in the field of business intelligence and consultancy. His focused research interest includes geopolitical changes, foreign relations and economic development related questions in Africa with external countries. Klomegâh has media publications, policy monographs and e-handbooks
By Dipo Olowookere
Iranian Supreme Leader, Mr Ayatollah Ali Khamenei, has died after coordinated airstrikes carried out by the United States and Israel on Tehran on Saturday morning.
His death was confirmed on Sunday morning by Iranian state media, which also disclosed that his daughter and grandchild were among those killed in the bombardment, which destroyed his compound.
Mr Khamenei was killed during a meeting with top leaders of the Middle East country yesterday, including the Defence Minister Amir Nasirzadeh and Revolutionary Guard commander Mohammad Pakpour, who reportedly died too.
His elimination has sparked mixed reactions, with some Iranians on the streets celebrating his demise, and others condemning the joint air strikes.
The President of the United States, Mr Donald Trump, described the late Iranian leader as “one of the most evil people in history,” expressing satisfaction at the action, which he said was “successful,” as it represented justice for both Iranians and Americans.
Meanwhile, Tehran has vowed to further respond to the attacks after initially firing missiles at six neighbours, including Qatar, Saudi Arabia, Kuwait, UAE, Bahrain, and Jordan.
Flight operations in the region have been disrupted because of the retaliatory action of Iran over the weekend, though most of the missiles were intercepted.
By Adedapo Adesanya
The African Development Bank (AfDB) and the African Union have renewed their push for visa-free travel to accelerate Africa’s economic transformation.
The call was reinforced at a High-Level Symposium on Advancing a Visa-Free Africa for Economic Prosperity, where African policymakers, business leaders, and development institutions examined the need for visa-free travel across the continent.
The consensus described the free movement of people as essential to unlocking Africa’s economic transformation under the African Continental Free Trade Area (AfCFTA).
The symposium was co-convened by AfDB and the African Union Commission on the margins of the 39th African Union Summit of Heads of State and Government in Addis Ababa.
The participants framed mobility as the missing link in Africa’s integration agenda, arguing that while tariffs are falling under AfCFTA, restrictive visa regimes continue to limit trade in services, investment flows, tourism, and labour mobility.
On his part, Mr Alex Mubiru, Director General for Eastern Africa at the African Development Bank Group, said that visa-free travel, interoperable digital systems, and integrated markets are practical enablers of enterprise, innovation, and regional value chains to translate policy ambitions into economic activity.
“The evidence is clear. The economics support openness. The human story demands it,” he told participants, urging countries to move from incremental reforms to “transformative change.”
Ms Amma A. Twum-Amoah, Commissioner for Health, Humanitarian Affairs and Social Development at the African Union Commission, called for faster implementation of existing continental frameworks.
She described visa openness as a strategic lever for deepening regional markets and enhancing collective responses to economic and humanitarian crises.
Former AU Commission Chairperson, Ms Nkosazana Dlamini-Zuma, reiterated that free movement is central to the African Union’s long-term development blueprint, Agenda 2063.
“If we accept that we are Africans, then we must be able to move freely across our continent,” she said, urging member states to operationalise initiatives such as the African Passport and the Free Movement of Persons Protocol.
Ghana’s Trade and Industry Minister, Mrs Elizabeth Ofosu-Adjare, shared her country’s experience as an early adopter of open visa policies for African travellers, citing increased business travel, tourism, and investor interest as early dividends of greater openness.
The symposium also reviewed findings from the latest Africa Visa Openness Index, which shows that more than half of intra-African travel still requires visas before departure – seen by participants as a significant drag on intra-continental commerce.
Mr Mesfin Bekele, Chief Executive Officer of Ethiopian Airlines, called for full implementation of the Single African Air Transport Market (SAATM), saying aviation connectivity and visa liberalisation must advance together to enable seamless travel.
Regional representatives, including Mr Elias Magosi, Executive Secretary of the Southern Africa Development Community, emphasised the importance of building trust through border management and digital information-sharing systems.
Ms Gabby Otchere Darko, Executive Chairman of the Africa Prosperity Network, urged governments to support the “Make Africa Borderless Now” campaign, while tourism campaigner Ras Mubarak called for more ratifications of the AU Free Movement of Persons protocol.
Participants concluded that achieving a visa-free Africa will require aligning migration policies, digital identity systems, and border infrastructure, alongside sustained political commitment.
By Kestér Kenn Klomegâh
In this interview, Uche Uzoigwe, Secretary-General of NIDOA-Brazil, discusses the economic potential in South America, particularly Brazil, and investment incentives for Brazilian corporate partners for the Federal Republic of Nigeria (FRN). Follow the discussion here:
How would you assess the economic potential in the South American region, particularly Brazil, for the Federal Republic of Nigeria? What investment incentives does Nigeria have for potential corporate partners from Brazil?
As the Secretary of NIDOA Brazil, my response to the questions regarding the economic potentials in South America, particularly Brazil, and investment incentives for Brazilian corporate partners would be as follows:
Brazil, as the largest economy in South America, presents significant opportunities for the Federal Republic of Nigeria. The country’s diverse economy is characterised by key sectors such as agriculture, mining, energy, and technology. Here are some factors to consider:
- Natural Resources: Brazil is rich in natural resources like iron ore, soybeans, and biofuels, which can be beneficial to Nigeria in terms of trade and resource exchange.
- Growing Agricultural Sector: With a well-established agricultural sector, Brazil offers potential collaboration in agri-tech and food security initiatives, which align with Nigeria’s goals for agricultural development.
- Market Size: Brazil boasts a large consumer market with a growing middle class. This represents opportunities for Nigerian businesses looking to export goods and services to new markets.
- Investment in Infrastructure: Brazil has made significant investments in infrastructure, which could create opportunities for Nigerian firms in construction, engineering, and technology sectors.
- Cultural and Economic Ties: There are historical and cultural ties between Nigeria and Brazil, especially considering the African diaspora in Brazil. This can facilitate easier business partnerships and collaborations.
In terms of investment incentives for potential corporate partners from Brazil, Nigeria offers several attractive incentives for Brazilian corporate partners, including:
- Tax Incentives: Various tax holidays and concessions are available under the Nigerian government’s investment promotion laws, particularly in key sectors like agriculture, manufacturing, and technology.
- Repatriation of Profits: Brazil-based companies investing in Nigeria can repatriate profits without restrictions, thus enhancing their financial viability.
- Access to the African Market: Investment in Nigeria allows Brazilian companies to access the broader African market, benefiting from Nigeria’s membership in regional trade agreements such as ECOWAS.
- Free Trade Zones: Nigeria has established free trade zones that offer companies the chance to operate with reduced tariffs and fewer regulatory burdens.
- Support for Innovation: The Nigerian government encourages innovation and technology transfer, making it attractive for Brazilian firms in the tech sector to collaborate, particularly in fintech and agriculture technology.
- Collaborative Ventures: Opportunities exist for joint ventures with local firms, leveraging local knowledge and networks to navigate the business landscape effectively.
In conclusion, fostering a collaborative relationship between Nigeria and Brazil can unlock numerous economic opportunities, leading to mutual growth and development in various sectors. We welcome potential Brazilian investors to explore these opportunities and contribute to our shared economic goals.
In terms of this economic cooperation and trade, what would you say are the current practical achievements, with supporting strategies and systemic engagement from NIDOA?
As the Secretary of NIDOA Brazil, I would highlight the current practical achievements in economic cooperation and trade between Nigeria and Brazil, alongside the supporting strategies and systemic engagement from NIDOA.
Here are some key points:
Current Practical Achievements
- Increased Bilateral Trade: There has been a notable increase in bilateral trade volume between Nigeria and Brazil, particularly in sectors such as agriculture, textiles, and technology. Recent trade agreements and discussions have facilitated smoother trade relations.
- Joint Ventures and Partnerships: Successful joint ventures have been established between Brazilian and Nigerian companies, particularly in agriculture (e.g., collaboration in soybean production and agricultural technology) and energy (renewables, oil, and gas), demonstrating commitment to mutual development.
- Investment in Infrastructure Development: Brazilian construction firms have been involved in key infrastructure projects in Nigeria, contributing to building roads, bridges, and facilities that enhance connectivity and economic activity.
- Cultural and Educational Exchange Programs: Programs facilitating educational exchange and cultural cooperation have led to strengthened ties. Brazilian universities have partnered with Nigerian institutions to promote knowledge transfer in various fields, including science, technology, and arts.
Supporting Strategies
- Strategic Trade Dialogue: NIDOA has initiated regular dialogues between trade ministries of both nations to discuss trade barriers, potential markets, and cooperative opportunities, ensuring both countries are aligned in their economic goals.
- Investment Promotion Initiatives: Targeted initiatives have been established to promote Brazil as an investment destination for Nigerian businesses and vice versa. This includes showcasing success stories at international trade fairs and business forums.
- Capacity Building and Technical Assistance: NIDOA has offered capacity-building programs focused on enhancing Nigeria’s capabilities in agriculture and technology, leveraging Brazil’s expertise and sustainable practices.
- Policy Advocacy: Continuous advocacy for favourable trade policies has been a key focus for NIDOA, working to reduce tariffs and promote economic reforms that facilitate investment and trade flows.
Systemic Engagement
- Public-Private Partnerships (PPPs): Engaging the private sector through PPPs has been essential in mobilising resources for development projects. NIDOA has actively facilitated partnerships that leverage both public and private investments.
- Trade Missions and Business Delegations: Organised trade missions to Brazil for Nigerian businesses and vice versa, allowing for direct engagement with potential partners, fostering trust and opening new channels for trade.
- Monitoring and Evaluation: NIDOA implements a rigorous monitoring and evaluation framework to assess the impact of various initiatives and make necessary adjustments to strategies, ensuring effectiveness in achieving economic cooperation goals.
Through these practical achievements, supporting strategies, and systemic engagement, NIDOA continues to play a pivotal role in enhancing economic cooperation and trade between Nigeria and Brazil. By fostering collaboration and leveraging shared resources, we aim to create a sustainable and mutually beneficial economic environment that promotes growth for both nations.
Do you think the changing geopolitical situation poses a number of challenges to connecting businesses in the region with Nigeria, and how do you overcome them in the activities of NIDOA?
The changing geopolitical situation indeed poses several challenges for connecting businesses in the South American region, particularly Brazil, with Nigeria. These challenges include trade tensions, shifting alliances, currency fluctuations, and varying regulatory environments. Below, I will outline some of the specific challenges and how NIDOA works to overcome them:
Current Challenges
- No Direct Flights: This challenge is obviously explicit. Once direct flights between Brazil and Nigeria become active, and hopefully this year, a much better understanding and engagement will follow suit.
- Trade Restrictions and Tariffs: Increasing trade protectionism in various regions can lead to higher tariffs and trade barriers that hinder the movement of goods between Brazil and Nigeria.
- Currency Volatility: Fluctuations in the value of currencies can complicate trade agreements, pricing strategies, and overall financial planning for businesses operating in both Brazil and Nigeria.
- Different regulatory frameworks and compliance requirements in both countries can create challenges for businesses aiming to navigate these systems efficiently.
- Supply Chain Disruptions: Changes in global supply chains due to geopolitical factors may disrupt established networks, impacting businesses relying on imports and exports between the two nations.
Overcoming Challenges through NIDOA.
NIDOA actively engages in discussions with both the Brazilian and Nigerian governments to advocate for favourable trade policies and agreements that reduce tariffs and improve trade conditions. This year in October, NIDOA BRAZIL holds its TRADE FAIR in São Paulo, Brazil.
What are the popular sentiments among the Nigerians in the South American diaspora? As the Secretary-General of the NIDOA, what are your suggestions relating to assimilation and integration, and of course, future perspectives for the Nigerian diaspora?
As the Secretary-General of NIDOA, I recognise the importance of understanding the sentiments among Nigerians in the South American diaspora, particularly in Brazil.
Many Nigerians in the diaspora take pride in their cultural roots, celebrating their heritage through festivals, music, dance, and culinary traditions. This cultural expression fosters a sense of community and belonging.
While many individuals embrace their new environments, they often face challenges related to cultural differences, language barriers, and social integration, which can lead to feelings of isolation.
Many express optimism about opportunities in education, business, and cultural exchange, viewing their presence in South America as a chance to expand their horizons and contribute to economic activities both locally and back in Nigeria.
Sentiments regarding acceptance vary; while some Nigerians experience warmth and hospitality, others encounter prejudice or discrimination, which can impact their overall experience in the host country. NIDOA BRAZIL has encouraged the formation of community organisations that promote networking, cultural exchange, and social events to foster a sense of belonging and support among Nigerians in the diaspora. There are currently two forums with over a thousand Nigerian members.
Cultural Education and Awareness Programs: NIDOA BRAZIL organises cultural education programs that showcase Nigerian heritage to local communities, promoting mutual understanding and appreciation that can facilitate smoother integration.
Language and Skills Training: NIDOA BRAZIL provides language courses and skills training programs to help Nigerians, especially students in tertiary institutions, adapt to their new environment, enhancing communication and employability within the host country.
Engaging in Entrepreneurship: NIDOA BRAZIL supports the entrepreneurial spirit among Nigerians in the diaspora by facilitating access to resources, mentorship, and networks that can help them start businesses and create economic opportunities.
Through its AMBASSADOR’S CUP COMPETITION, NIDOA Brazil has engaged students of tertiary institutions in Brazil to promote business projects and initiatives that can be implemented in Nigeria.
NIDOA BRAZIL also pushes for increased tourism to Brazil since Brazil is set to become a global tourism leader in 2026, with a projected 10 million international visitors, driven by a post-pandemic rebound, enhanced air connectivity, and targeted marketing strategies.
Brazil’s tourism sector is poised for a remarkable milestone in 2026, as the country expects to welcome over 10 million international visitors—surpassing the previous record of 9.3 million in 2025. This expected surge represents an ambitious leap, nearly doubling the country’s foreign-arrival numbers within just four years, a feat driven by a combination of pent-up global demand, strategic air connectivity improvements, and a highly targeted marketing campaign.
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