BRICS 2025 Summit: What Nigeria Stands to Gain

By Dada Ahmed.

As the world watches the unfolding events at the BRICS 2025 Summit in Brazil, analysts, policymakers, and ordinary citizens alike are asking a critical question: what does this evolving bloc mean for the global south, and more specifically, what does Nigeria stand to gain? In a world marked by shifting alliances, economic uncertainties, and a growing demand for multipolar power balance, BRICS is steadily emerging as a platform for reordering the world’s financial and geopolitical landscape.

BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is a group of major emerging economies founded on the idea of promoting peace, development, and economic cooperation among countries outside the traditional Western alliances. Initially coined as “BRIC” by economist Jim O’Neill in 2001, the grouping began informal meetings in the mid-2000s. The first official BRIC summit was held in 2009 in Yekaterinburg, Russia, amidst the global financial crisis, as the member nations sought to assert more influence on international financial institutions.

South Africa joined the bloc in 2010, expanding the acronym to BRICS and bringing in African representation to the group. Since then, the alliance has held annual summits, gradually broadening its agenda to include not just economic cooperation but also global governance reform, infrastructure development, climate change, health, education, and cultural exchange. In recent years, discussions have increasingly centered on alternatives to Western-dominated institutions like the IMF and World Bank, especially through the establishment of the New Development Bank (NDB).

The 2025 BRICS Summit in Rio de Janeiro, Brazil, is taking place at a pivotal moment. With a theme centered on “Innovation, Inclusion, and Sustainable Development in a Multipolar World,” the summit is focused on enhancing south-south cooperation and reinforcing the bloc’s position as a counterweight to Western economic dominance. For the first time, the bloc is expanding under a new format, BRICS+, welcoming observer nations and potential new members, including Argentina, Egypt, Saudi Arabia, the UAE, Iran, and Ethiopia, which were formally invited in 2023 and are now participating more actively in deliberations.

Central to the current summit is the discussion around de-dollarization,the effort to reduce reliance on the U.S. dollar in global trade. Brazil’s President Luiz Inácio Lula da Silva has renewed calls for a BRICS common currency to facilitate trade and investments among member nations. This move, although still facing technical and political hurdles, signals a shift towards a more autonomous financial ecosystem, potentially reshaping global trade dynamics.

The summit also features robust conversations on digital cooperation, particularly the development of secure and independent technology infrastructure to support member states’ economic goals. The establishment of a BRICS cloud network, expansion of 5G cooperation, and promotion of indigenous technological innovation are all on the agenda, reflecting the bloc’s ambition to reduce dependence on Western tech giants.

Amid these bold initiatives, climate change and food security have not been left out. With member countries home to a significant portion of the world’s agricultural land and natural resources, BRICS is seeking to implement coordinated responses to climate challenges and ensure sustainable food production. These efforts align with the summit’s broader emphasis on inclusivity and sustainable development.

With the President of Nigeria, Ahmed Bola Tinubu attending the summit, the question on the lips of many Nigeria now is,what does Nigeria stand to gain from the BRICS 2025 Summit?

President Tinubu ,who joined BRICS leaders in Brazil, pushed for equitable reforms to benefit emerging economies as well as calling for Overhaul of Global Governance, Finance, and Healthcare Systems, according to report filed by Isola Moses of ConsumerConnect.

The report quotes President Tinubu as saying that a comprehensive overhaul of global governance, financial structures, and healthcare systems would foster greater equity and inclusion for emerging and low-income economies, particularly in Africa among other advantages.

He also urged world leaders to chart a new course rooted in justice, fairness, sustainable technology transfer, and accessible financing.

Tinubu stressed that emerging economies must be empowered to fully benefit from global initiatives, especially as they face shared challenges including environmental degradation, the climate crisis, and widening healthcare inequalities.

He reiterated Nigeria’s commitment to BRICS’ goal of fostering collective, fair, and inclusive global development.

While Nigeria is not yet a member of BRICS, it is strategically positioned to benefit from the group’s expanding influence. As Africa’s largest economy and most populous nation, Nigeria has been frequently mentioned in BRICS+ discussions. The possibility of future membership or observer status could give Nigeria access to development financing through the NDB, which offers less conditional loans than the IMF or World Bank.

Additionally, Nigeria can tap into infrastructure funding and technology partnerships. BRICS’ emphasis on building transport, energy, and ICT infrastructure resonates strongly with Nigeria’s developmental needs. Brazil and China, in particular, have expressed interest in increasing bilateral engagements with African nations, and Nigeria stands to benefit from such overtures, especially in renewable energy and transport.

Trade is another vital area. With the BRICS bloc promoting local currency trade arrangements, Nigeria could explore new markets for its oil, agricultural products, and manufactured goods without being solely reliant on Western-dominated trading platforms. This could help stabilize its currency, boost exports, and diversify its economic partnerships.

Furthermore, educational and cultural exchanges through BRICS programmes could benefit Nigerian students, professionals, and creatives. Several BRICS countries run scholarship and training programmes aimed at fostering people-to-people connections, an area where Nigeria’s youthful and dynamic population could thrive.

Beyond economics, Nigeria can also draw inspiration and support from BRICS’ push for reforms in global governance. The bloc has consistently called for greater representation of developing countries in the UN Security Council and international financial institutions. Nigeria, which has long sought a permanent seat at the UN Security Council, could align with BRICS’ advocacy to amplify its voice on the global stage.

Critics, however, caution that Nigeria must approach BRICS with a clear strategy. Aligning with the bloc without a coherent national policy could open the country to geopolitical tensions, especially amid U.S.-China rivalry. Also, BRICS itself is not without internal contradictions,competing interests among members like China and India often dilute the bloc’s coherence and effectiveness.

Still, the BRICS 2025 Summit presents a compelling vision of an evolving world order,one where middle powers like Nigeria can engage beyond traditional frameworks and explore alternative partnerships that align with their development goals. Whether Nigeria eventually joins the bloc or not, its policymakers must monitor developments closely and seek out practical collaborations that support national priorities.

As the summit rounds off with declarations and agreements, one thing is clear: BRICS is not just a symbol of emerging power,it is a sign of an international system in flux. For nations like Nigeria, the question is not whether to choose between the West or BRICS, but how best to navigate both spheres for optimal growth and sovereignty.