The BRICS and G7 Politics for Nigeria: Not One or the Other

youtube.com/watch

by Collins Nweke

In the dynamic arena of global geopolitics, Nigerians must shed the illusion that their country has to pick sides between BRICS and the G7. Rather than viewing these blocs as mutually exclusive, Nigeria should boldly pursue a dual-engagement strategy that taps into the opportunities offered by both. It is not a matter of ‘either-or’ but ‘both-and’. This is a strategic move that reflects Nigeria’s aspirations as a global player.

BRICS vs G7 is a false dichotomy

It is true that China, a key BRICS member, has invested heavily in Nigeria’s industrial sector. This is particularly visible in the Ogun, Ota, Lagos, and Badagry axis, among other locations. These visible investments often overshadow Western contributions, which tend to be more subtle and regulatory-focused. But raw investment volumes do not tell the whole story. Many Chinese investments come with challenges. Take debt sustainability as example. Limited local job creation remains an issue. We cannot ignore environmental concerns either. Meanwhile, G7-linked initiatives often support democratic institutions, capacity building, and regulatory reforms that are less visible but equally essential for long-term development.

Currency Policy and the Sovereignty Debate

Yes, Bretton Woods institutions influenced by G7 powers often push currency devaluation policies in emerging economies, including Nigeria. But it would be simplistic to attribute Nigeria’s economic struggles solely to G7 influence. Macroeconomic mismanagement at home plays a major role. It is also worth noting that BRICS institutions like the New Development Bank have not exactly rushed to fill Nigeria’s financing gaps. Neither bloc is altruistic. Both run based on interest. Those rooting for Nigeria should assume the responsibility of strategically aligning their interests with those of Nigeria.

Non-Alignment 2.0: Nigeria’s Diplomatic Playbook

Nigeria must take a cue from fellow emerging powers like India and South Africa who engage both BRICS and G7 with calculated pragmatism. This is not fence-sitting. It is strategic positioning in a multipolar world. Nigeria’s influence must be exercised in multiple fora. The country must use BRICS to assert African agency while using G7 platforms to strengthen ties with traditional powers and access advanced technology, finance, and markets. And this brings me to the issue of strategic engagement as opposed to selective alignment.

Frustration with the G7 is understandable. However, disengagement is not a strategy. Nor is blind faith in BRICS a silver bullet. Nigeria must evolve from being a passive recipient of foreign policy to becoming a confident global actor. The future lies not in choosing sides, but in choosing strategy.

That is why I stand by my position: Nigeria needs BRICS and G7. This is not naivety; it is geopolitical maturity. Let us play the global game with clarity, courage, and conviction.

Watch my related interview with Amarachi Ubani of Channels TV: https://youtu.be/Esp8JpRHCV8?feature=shared

The Diaspora as Drivers of Service Export for Nigeria

youtube.com/watch

In this conversation with TVC Breakfast anchored on my policy recommendation for an organised service export for Nigeria, I highlighted the Diaspora component of Nigeria’s current Renewed 4D Foreign Policy doctrine as providing the required framework.

Partnerships for Achieving Nigerian Diaspora Voting

Providing editorial consultancy for this documentary film project, it was my pleasure to assemble four critical resource persons under the leadership of Diaspora Industrialist and Author, Dr John C. George, to provide penetrating insights into how far Nigeria has come on Diaspora Voting. The discussants equally delved into what exactly needs to happen to make Diaspora Voting happen. The outcome is a unique cross-fertilisation of ideas.

Nigerian Diaspora Voting may be a long time in coming but it no longer is a matter of if it will happen. It is now a question of when.

Economic Diplomacy & the Diaspora

I was delighted to have made a presentation at a Multi-sectoral Stakeholders Economic Investment Summit organised bySME Secretariat and hosted at the Lagos Chamber of Commerce, Victoria Island, Lagos Nigeria on Monday 21 January 2019

Jeffrey Onyeama Minister of Foreign Affairs of Nigeria

I used the opportunity to review the Nigerian Economic Diplomacy Initiative (NEDI) of the Ministry of Foreign Affairs of Nigeria under President Muhammadu Buhari. After a general refresher of what NEDI is all about, I dropped the following conclusions on this policy initiative:

  • NEDI is a strategically important policy tool with huge potentials to make a structural difference in economic regeneration of Nigeria with focus on non-oil sector
  • NEDI made a good start but has clearly not lived up to its biddings. It has failed rather woefully in showing evidence that it has made a convincing start in delivering on the important task of enhancing inter-agency collaborations
  • There is no visible effort on the part of NEDI to genuinely engage the Diaspora in a result-oriented way
  • Unless there is a change of course, NEDI is marked to fail!

I wrapped up with these sets of recommendations:

  • Foreign trade component should be introduced into the operations of all Ministries, Departments & Agencies (MDAs)
  • A NEDI Attaché should have a sitting in all major Missions of Nigeria worldwide where possible or the role unambiguously integrated into the duties of all diplomats charged with economic affairs
  • A formal working relationship should be initiated with Nigerians in Diaspora Organisation (NIDO) worldwide to enhance professional Diaspora mobilization
  • Clear targets should be set for inward investment flows as aconsequence of NEDI activities

Access to the integral PowerPoint Presentation on Economic Diplomacy & the Diaspora is possible:https://1drv.ms/p/s!AuyRKnHzz067wRMWQFFnd28yiaXL