NIGERIA has been admitted as a “partner country” of the Brics bloc of developing economies, according to a statement on Saturday by Brazil, the group’s chair.

Brics was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010, as a counterweight to the G7 leading industrialised nations.

Last year, the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates. Indonesia was granted full membership at the beginning of this year.

Saudi Arabia has been invited to join as a full member. 

Turkey, Azerbaijan and Malaysia have formally applied to become members and around 40 others have applied for membership.

Nigeria becomes the ninth Brics partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda and Uzbekistan.

“[As] the world’s sixth-largest population — and Africa’s largest — as well as being one of the continent’s major economies, Nigeria shares convergent interests with other members of Brics,” the Brazilian government said.

“It plays an active role in strengthening South-South co-operation and in reforming global governance — issues that are top priorities during Brazil’s current presidency.”

President-elect Donald Trump last year threatened 100 per cent tariffs against Brics if it acted to undermine the United States dollar. The bloc has committed to prioritising mechanisms for nations to trade in their own currencies rather than the US dollar.