Vice President Kashim Shettima has revealed that Nigeria attracted $1.27 billion in foreign capital from BRICS nations by June 2024, a significant increase from the $438.72 million recorded during the same period in 2023.
Speaking at the 2024 China-Africa Inter-Bank Association Forum in Abuja on Wednesday, Shettima, represented by the Special Adviser to the President on General Duties, Dr. Aliyu Modibbo, emphasized the importance of Nigeria’s growing partnerships with the BRICS bloc, which includes Brazil, Russia, India, China, and South Africa, alongside new members such as Iran, Egypt, Ethiopia, and the UAE.
He described these partnerships as critical to Nigeria’s domestic growth and development goals.
Shettima noted that China remains Nigeria’s top trading partner, with bilateral trade reaching ₦7.38 trillion in the first half of 2024. He attributed this achievement to President Bola Ahmed Tinubu’s diplomatic efforts, which culminated in the signing of five key agreements during his visit to China in September 2024.
These agreements, aligned with the Belt and Road Initiative, aim to enhance Nigeria’s infrastructure and economic capacity.
At the event, First Bank Group CEO Olusegun Alebiosu commended the China-Africa Inter-Bank Association for fostering trade and investment, while Wang Weidong, Vice President of China Development Bank, highlighted the socio-economic impact of China-Africa projects, including 270,000 jobs created across 33 African nations.
