NIGERIA-BRICS RELATIONS AND THE NEXT-11: THE DYNAMICS OF ECONOMIC POWER BEFORE AND BEYOND COVID-19 DISRUPTIONS

Abstract

Since the emergence of the BRICS – Brazil, Russia, India, China and South Africa – there have been lots of changes in the global environment. The BRICS has not only served as a diplomatic platform for their multilateral engagements and negotiations of its member countries, but also as a vehicle to drive the political, economic and socio-cultural interactions of the members with other countries such as Nigeria.Jim O’Neill’s release of the ‘Next Eleven’ report brought into sharp focus the prospects of the emergence of another power group or the future enlargement of the BRICS. Predicated on the earlier proposition that the ‘Next Eleven’ group of 11 countries, were on track to catch up with the BRICS provided they sustained their growth levels, this article examines Nigeria’s position in the Next-11 vis-à-vis the BRICS, with particular reference to the prospects of its emergence as an economic power before and after the COVID-19 pandemic. As observed, despite Nigeria’s possession of critical elements of power that include geography, population size, and the economic resources, military strength and diplomatic experience, it is yet to harness them to achieve prosperity and greatness. It therefore concludes that the country’s prospects thereof including the future of its relations with global emerging power blocs, such as the BRICS, are hinged on her overcoming critical challenges that have rendered the country prostrate even before COVID-19-driven disruptions of its economy.