BRICS to Expand by joining another African Country!

BRICS to expand further by joining another country from global south. As stated by Foreign Minister Yusuf Tuggar, Nigeria is considering joining BRICS. After the expansion in 2024 to include Iran, UAE, Saudi Arabia, Ethiopia, and Egypt, the BRICS bloc has seen significant growth in its economic and demographic footprint globally. The combined GDP of the expanded BRICS now represents about 36% of the global GDP, indicating a substantial increase in the bloc’s economic power. This enlargement has not only bolstered BRICS’ share of global GDP but also expanded its influence in terms of population, with the bloc now encompassing around 47% of the world’s Nigeria into BRICS would significantly amplify the bloc’s demographic and strategic advantage. With Nigeria’s population of 230 million, it stands as Africa’s most populous nation. This addition would propel BRICS’ representation to encompass over half of the global population, marking a substantial increase in its collective influence. Moreover, the inclusion of these new members has positioned BRICS as a formidable entity in the global oil market, controlling about 43.1% of global oil production. This strategic dominance in oil production is largely attributed to the addition of leading oil exporters like Saudi Arabia. The expansion also enhances BRICS’ role in global trade, with its share of global exports rising to 25.1%, showcasing the bloc’s growing significance in international commerce.