Shettima Hails $1.27bn BRICS Capital Inflow As Nigeria Deepens Global Ties

Vice President Kashim Shettima has celebrated Nigeria’s success in attracting $1.27 billion in foreign capital from BRICS nations within the first half of 2024, a significant leap from the $438.72 million recorded during the same period in 2023……READ MORE

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Speaking at the China-Africa Inter-Bank Association Forum in Abuja, Shettima emphasized the growing importance of Nigeria’s strategic economic partnerships with BRICS countries, which include Brazil, Russia, India, China, and South Africa. Represented by Dr. Aliyu Modibbo, the Vice President highlighted that these investments reflect mutual trust and are a testament to President Bola Tinubu’s diplomatic strides, particularly through initiatives like the Belt and Road collaborations with China.

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Shettima also acknowledged China’s position as Nigeria’s leading trade partner, with bilateral trade reaching an impressive N7.38 trillion by mid-2024. This achievement, he noted, underscores the effectiveness of recent diplomatic engagements, including the signing of five key agreements during Tinubu’s official visit to China. Shettima lauded the deepening financial ties as a critical driver of Nigeria’s infrastructural and economic development, expressing optimism that the BRICS partnerships would continue to support the nation’s growth agenda.

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