A handful of developing countries are preparing to join the BRICS alliance in 2024. Developing countries from Asia, the global south, Africa, and even Europe are considering securing a spot in BRICS this year. The upcoming BRICS summit will be held in October 2024 in the Kazan region of Russia. The 16th summit will see a new influx of applications from countries that are preparing to join BRICS this year.

India’s Foreign Affairs Minister S Jaishankar confirmed that more than 2 dozen countries want to join BRICS in 2024. The development indicates that developing countries trust the alliance and want to distance themselves from the US dollar. The spiraling debt of $34 trillion is a burden to developing countries that hold billions in US dollars as reserves.Therefore, developing nations are aiming to reduce the risk of debt by putting their local currencies first for trade.

Even if Nigeria decides to join the BRICS alliance now, is it the best time, seeing that Nigeria is not even a producing state rather a consuming state?

Corrupt leaders currently leading Nigeria cannot join brics reason qatar rejected them.

Brics Should stop noisemaking and get to action , u cannot usurp us dollars without providing an alternative, countries trading with their own currency is a stupid move that will not see the light of day. ..why will china want to accumulate Egyptian pounds that it is not sure of its volatility and will find it difficult to interchange....brics must get to work and work out a new currency....
If they cannot bring up an alternative, let them keep quiet, i dont even see the importance of this organization so far...

Minsk24:
Brics Should stop noisemaking and get to action , u cannot usurp us dollars without providing an alternative, countries trading with their own currency is a stupid move that will not see the light of day. ..why will china want to accumulate Egyptian pounds that it is not sure of its volatility and will find it difficult to interchange....brics must get to work and work out a new currency....
If they cannot bring up an alternative, let them keep quiet, i dont even see the importance of this organization so far...

I heard they are working on it

Mj4199:

I heard they are working on it

Una dey hear things here and there.
China has trillions of us dollars in foreign reserve.

BRICS IS FOR TRANSPARENT COUNTRIES THAT OPERATES ON DUE PROCESSES.

Nigeria problem is not dollars...but FX....

All the broke countries looking for IMF money to borrow are planning to ditch dollar. Only China has good economy among then but still heavily dependent on US and European market for survival.

European union cannot ditch dollar not to talk of these mushrooms countries.