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

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.”

Africa
At least 15 killed in Tuesday night road crash
The report added that the tragedy had resulted from a collision between a truck and four minibuses.

Opinion
Omololu Oduyoye: Nigeria’s fintech community and global war against fraud
“In battling the beast of fraud in global fintechs, a multi-dimensional approach must be enacted to curb this menace.’’

NationWide
IOM facilitates return of 1,000 Nigerians stranded in Niger Republic
IOM said many returnees experienced distress upon return due to feelings of shame, failure and stigmatisation.

Opinion
Cheta Nwanze: Fallout over AFCON result underscores challenge with Nigeria’s diversity
Without a compelling vision that speaks to hearts and minds, expecting Nigerians to embrace dry pronouncements over emotionally resonant narratives is unrealistic.

Lagos
EFCC arraigns man for allegedly stealing N15.5 million from car sales
The defendant pleaded not guilty to the charge.

Lagos
Court remands man for allegedly defiling 13-year-old girl
Mr Kubeinje adjourned the case until February 28 for trial.