Vice President Kashim Shettima has commended Nigeria’s growing economic ties with BRICS nations, which have facilitated a $1.27 billion foreign capital inflow as of June 2024.
Speaking at the 2024 China-Africa Inter-Bank Association Forum on Wednesday, Shettima highlighted the pivotal role of BRICS—comprising Brazil, Russia, India, China, and South Africa—in advancing Nigeria’s economic development. “This reflects the deepening of our development partnerships and the mutual trust that continues to grow between us,” he said.
The forum, hosted in Africa for the first time, fostered financial collaboration between the China Development Bank and 15 African banks. Shettima underscored China’s role as Nigeria’s leading trading partner, with total trade reaching ₦7.38 trillion ($4.37 billion) by mid-2024.
Shettima highlighted President Bola Tinubu’s September visit to China, during which five Memoranda of Understanding were signed under the Belt and Road Initiative, targeting infrastructure and trade development.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
