BRICS represents a platform of hope for the countries of the Global South, seeking an alternative world order, and since the BRICS membership offers opportunities for stable development, Nigeria is interested in joining the association, Director General of the Nigerian Institute of International Affairs Professor Eghosa Osaghae told Sputnik Africa.
"It [BRICS] reflects the ambitions and the aspirations of the Global South to play these kinds of roles and the demands for inclusivity and stability and for justice and fairness," he said.
The multilateral world order, built around the UN and the Bretton Woods institutions and dominated by the US and its Western allies, is obviously in need of serious reforms, as it doesn't represent the interests of the countries of the Global South, the expert noted.
However, the reforms can be implemented if the countries of the Global South participate more effectively, which would make BRICS more imperative and enable it to change, Osaghae explained.
"It [BRICS] addresses major global issues, especially the issues of exclusion, issues of injustice, and issues of equality. It addresses those kinds of issues that Nigeria would be interested in," the speaker said, adding that Nigeria is attracted to membership as it’s the opportunity to receive fair trade, improved investment, and support in its fight against terrorism within the bloc.
De-dollarization is linked to deglobalization, which is currently on the rise. The question is what currency can be an alternative, Osaghae added.
"What Africa wants is what would ease and facilitate trade," the expert concluded.