Nigeria must join BRICS for economic prosperity: Femi Falana

Human rights lawyer, Femi Falana SAN, has urged the Federal Government to join economic bloc BRICS to ensure the prosperity of the Nigerian economy.
Giving the admonition on Channels Television’s Politics Today on Tuesday, Mr Falana hinged his advice on the need for Nigeria to end its reliance on the United States of America dollar.
Recall that Vice President Kashim Shettima, upon his return from the 15th BRICS Summit in South Africa in August 2023, said Nigeria didn’t apply to join BRICS.
However, the legal luminary said joining the economic blog would enable Nigeria to sell its crude oil to other countries in naira and not in the U.S. dollar, thereby helping to strengthen the local currency.
Falana said, “There is a group of countries in the world today insisting that we are not going to be tied to the American dollar. We want to trade among ourselves in our currencies and those countries are in the BRICS – Brazil, Russia, India, China and South Africa.
“Others are joining them, Saudi Arabia has joined them, U.A.E, Ethiopia, Egypt and others. Nigeria is not there. We cannot be more catholic that the Pope. If friends of the west are joining BRICS, why are we not there? So that Nigeria and other countries can trade in their currencies, we’ll trade in naira.’’
Mr Falana urged the government to stop dancing around the country’s economic challenges, insisting that the circulars being issued by the Central Bank of Nigeria would not solve the forex problems facing Nigeria.
“If I had my way, my own radical policy would be that: I would sell Nigerian gas and crude oil in naira. Let those who want to buy our products look for naira. That is how to promote your currency,” he advised.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Hot news Home top
Andy Burnham confirmed as UK Labour Party leader, PM-designate
Mr Burnham was confirmed as the LP’s new leader at a special party conference on Friday.

Rights
Customs releases N7.61 billion for payment of 4,237 retirees
The NCS announced that the funds had been disbursed to the PFAs for onward payment into the retirees’ individual accounts.

Economy
Court dismisses Bayelsa traditional ruler’s suit against Shell
The Federal High Court in Yenagoa, Bayelsa State, dismissed a suit challenging the divestment of Shell Petroleum Development Company Nigeria Limited from onshore assets.

States
Freed kidnap victims revealed terrorist losses in North-West operations: Army
The army said the victims told troops they were released after sustained military pressure weakened their captors operating from the Rijana forest.

Heading 4
Trump accuses China of interfering in 2020 election to help Biden win
Mr Trump said China meddled in the 2020 election and that Beijing helped former President Joe Biden win.

Agriculture
FG establishes mega farms in four states
He said NALDA targets establishing mega farm estates across the six geopolitical zones to address challenges affecting agricultural production and create modern farming communities.





