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Thursday, September 28, 2023

BREAKING: Nigeria misses out as BRICS announces six new members (Video)

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Nigeria has missed out as BRICS, the bloc of five major emerging economies including Brazil, Russia, India, China, and South Africa, has announced six new members.

This was announced on Thursday, August 24, 2023, by South Africa’s president, Matamela Cyril Ramaphosa.

The countries announced are; Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE

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Recall that the 15th BRICS Summit of Heads of State and Government started Tuesday, August 22, and is to end Thursday, August 24 at the Sandton Convention Centre, Johannesburg, South Africa.

South Africa’s president, Matamela Ramaphosa, while making the announcement said, “BRICS itself is a diverse group of nations. It is an equal partnership of countries that have differing views but have a shared vision for a better world.


“As the five BRICS countries, we have reached agreement on the guiding principles, standards, criteria and procedures of the BRICS expansion process, which has been in discussion for quite a while. We have consensus on the first phase of this expansion process, and other phases will follow.

“We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia, and the United Arab Emirates to become full members of BRICS, the membership will take effect from 1 January 2024,” he said.

RICS now controls over 50% of the world’s oil reserves.

Earlier, South Africa’s Foreign Minister Naledi Pandor said that there were 12 countries interested in joining the initiative.

Of the 12, she mentioned 7 countries specifically, namely Saudi Arabia, United Arab Emirates, Egypt, Algeria, Argentina, Mexico and Nigeria.

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