BRICS and the Lessons of Geo-Strategic Politics for Nigeria

Abstract

The study examines BRICS and the lessons of geo-strategic politics for Nigeria. The study is
qualitative in nature and used ex post facto survey research design relying on data from
secondary sources like books, journals, conference proceedings, and internet documents.
Textual analysis was employed to present data concisely and logically. The paper adopted the
theory of new global regionalism as its framework of analysis to explain the issues under
study. The findings of the paper revealed that since 2001, BRICS countries have been a tool
to counter Western hegemony and strengthen their global governance position. Again, these
nations have created financial institutions like the New Development Bank and Contingent
Reserve Arrangement, and introduced BRICS currency to whittle down the monopoly and
dominance of World Bank and International Monetary Fund. BRICS addresses issues like
climate change, terrorism, and cybercrime. The findings further revealed the challenges of
BRICS such as lack of common interest and multilateral strategy, territorial disputes, and
military tension between India and China. However, the paper recommended that Nigeria can
learn from BRICS nations' strategic partnerships and multilateralism to enhance geopolitical
influence, economic development, and technological advancement. Nigeria should use her
position to diversify its trade and strengthen its economic ties with BRICS countries by
becoming a member as well. This can be done by establishing trade agreements that foster
market access and diversification while protecting local industries with fair trade practices. In
addition, promoting joint ventures and partnerships between Nigerian and BRICS companies
could facilitate technology transfer and capacity building for the development of domestic
industries.