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The Federal Government has dismissed the warnings of U.S. President-elect Donald Trump, who recently threatened sanctions against nations aligning with BRICS. In a bold rebuttal, officials emphasized the country’s right to forge its own economic partnerships, rejecting what they described as interference in its sovereignty.
Trump’s remarks, aimed at deterring engagement with the growing bloc of emerging economies, have drawn sharp criticism from several quarters, with many viewing them as a challenge to global economic multipolarity.
Nigeria’s emergence as a partner country of BRICS in October signals a bold shift in its foreign policy trajectory. With full membership anticipated within two years, the country is poised to join the ranks of an economic bloc that began as a union of Brazil, Russia, India, and China.
Since its 2010 expansion to include South Africa, BRICS has grown into a symbol of resistance to traditional Western dominance, and Nigeria’s participation adds further momentum to this transformative agenda.
At the annual BRICS summit held in Kazan, Russia, the group solidified its growing influence by officially inducting Egypt, Ethiopia, Iran, and the United Arab Emirates as full members.
These nations, now key players within the bloc, actively contributed to the discussions, underscoring BRICS’ determination to reshape global alliances and expand its reach across Africa, the Middle East, and beyond.
The BRICS bloc is pushing forward with a transformative plan to introduce a new currency aimed at reducing global reliance on the US dollar. This initiative, popularly referred to as the ‘BRICS currency project,’ is being carefully calibrated, with its implementation timeline set for 2025. The move underscores the alliance’s long-term vision of rebalancing the global financial system.
Former US President Donald Trump fired a sharp warning on social media, threatening to slap 100 percent tariffs on nations in the BRICS group if they proceeded with plans to establish a rival currency to the US dollar.
The tweet, characteristic of Trump’s hardline trade policies, has fueled speculation about escalating tensions between Washington and the emerging economic alliance.
“The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty U.S. Dollar or, they will face 100 per cent tariffs, and should expect to say goodbye to selling into the wonderful U.S. economy,” Trump posted on Truth Social.
Reacting, a source in the presidency who did not want his name in print because he was not authorised to speak on the issue, said Nigeria did not feel threatened by Trump’s outburst.
The source said, “Nigeria is a sovereign nation that can decide its alliances.”
Also speaking on the matter, Alkasim Abdulkadir, the Special Assistant on Media Communication and Strategy to the Minister of Foreign Affairs, Yusuf Tuggar, said Nigeria would continue to push for membership of international bodies to advance its economy, adding that the country reserved the right to align with any country it deemed fit.
“Nigeria continues to explore and advocate the democratisation of global institutions including the United Nations Security Council and G20, ultimately by becoming a member state.
“Nigeria is a country in a multipolar world and we have a history of non-alignment. Our strategic autonomy is sacrosanct,” Abdulkadir said.
Commenting on the issue, a retired career diplomat, Sola Abolurin, urged Nigeria to dismiss Trump’s outburst, describing it as an empty threat.
Abolurin said, “Trump has threatened so many countries, not only BRICS. He threatened Canada and China, so Nigeria should not allow any country to dictate for it. It will pay Nigeria more to be a member of BRICS.
“Russia has been surviving without the support of America and many other Western countries. When the Russia-Ukraine war started, Russia decided to do away with all the major currencies and started trading its goods in ruble and nothing has happened.”
The diplomat said Trump was not vast in international relations.
“I see Trump’s threat as empty; he is somebody who is by nature very dictatorial. He thinks he can bully everybody but the BRICS countries should not allow themselves to be bullied by Trump or America.
“If the BRICS feels they are going to have their currency to trade, it is all well and good, and if Nigeria decides to join BRICS, it will be better for it because BRICS has major economies and Trump’s threat will not have any effect at all on Nigeria if the country decides to be part of BRICS.
“If Trump carries out his threat, it is also going to have a ripple effect on the American economy because international relations is reciprocatory and other countries will also do the same for America,” Abolutin said.
A former Nigerian Ambassador to the Philippines, Yemi Farounbi, however, called for caution, urging Nigeria to prioritise its national interests over aligning with global power blocs.
“If Nigeria intends to challenge the dollarisation of the global economy, it must ask itself critical questions: Is this genuinely in Nigeria’s national interest? Or is it aligning with a foreign agenda?” Farounbi stated.
