- Nigeria will enjoy economic benefits from its BRICS partnership without political obligations, according to Minister Yusuf Tuggar.
- Deals with Brazil in agriculture, trade, and aviation are underway, including $2.2 billion in investments and plans for a direct Lagos–São Paulo flight.
Nigeria will enjoy the full economic benefits of its BRICS partnership status despite not being a full member, Foreign Affairs Minister Yusuf Tuggar said on Tuesday, July 8, dismissing concerns about geopolitical fallout from closer ties with the bloc.
Speaking on Channels Television, Tuggar said Nigeria remains strategically aligned with global partners and will continue pursuing policies prioritising national interest.
“BRICS is not a bloc against any country,” he said. “It is a coalition of developing nations seeking to reform a global economic order created after World War II.”
The BRICS alliance, Brazil, Russia, India, China, and South Africa, has recently expanded to include new members and observers, including Nigeria. Tuggar clarified that while Nigeria has not joined as a full member, the current partnership arrangement grants access to key economic opportunities without the political obligations that come with full membership.
“This partnership gives us the benefits of being part of the alliance, but without the political liabilities,” he said.
Tuggar added that Nigeria’s growing alignment with BRICS reflects broader efforts to move beyond the restrictive frameworks of institutions like the IMF and World Bank, whose historical policies have limited Nigeria to exporting raw materials.
President Bola Tinubu, who attended the recent BRICS summit, called for a new international sovereign debt restructuring framework, highlighting the unsustainable debt burdens many African nations face.
“Much of Africa’s debt goes toward servicing old loans,” Tuggar said. “President Tinubu’s proposal received strong support at the summit, especially as developing countries continue to bear the costs of climate change and global instability.”
Beyond finance, Tuggar said Nigeria is deepening BRICS-linked partnerships in energy and agriculture. He highlighted the high cost of renewable energy and stressed the need for financing tools that do not add to the country’s debt load.
“Technologies like solar and wind are expensive,” he said. “We need climate finance that supports our goals without increasing our liabilities.”
One concrete initiative underway is Nigeria’s collaboration with Brazil’s Embrapa, the agricultural research agency that transformed Brazil’s once-barren cerrado into a leading soybean region. Tuggar said Nigeria aims to replicate that success by improving soil health and crop yields.
He also announced that Brazilian investors have pledged more than $2.2 billion to Nigeria’s agriculture and livestock sectors. Companies like JBS-owned Batistas plan to invest in cattle farming and feed production.
On trade, Tuggar said Nigeria is already exporting fertiliser to Brazil and sees opportunities to expand exports of polymers and synthetic fibres, especially for Brazil’s sportswear industry.
Air Peace is preparing to launch direct flights from Lagos to São Paulo, pending regulatory approval. Tuggar confirmed that Br in aviationazil’s aviation authorities are ready to approve the route once the airline secures the necessary aircraft.
“Both presidents, Tinubu and Lula, made it clear that there is no time to waste,” he said. “They want to see results quickly.”
Tuggar dismissed speculation about a possible backlash from the United States or other Western countries over Nigeria’s growing ties with BRICS. He noted that Nigeria maintains strong relations with the U.S., especially in trade and mineral development.
“Nigeria has critical minerals like lithium and rare earths that are vital to modern industries,” he said. “We’re working with everyone, BRICS, the West, whoever aligns with our national goals.”
He concluded by reaffirming Nigeria’s commitment to multilateral diplomacy and its advocacy for greater African representation on the United Nations Security Council.
“Our foreign policy is balanced,” he said. “We’re in a good position. We work with the East, the West, and emerging partners. What matters is what serves Nigeria’s interests.”