Diaspora
Why G20, BRICS+ Shun Nigeria – Ex-Envoys
Some former envoys have said that the G20 and BRICS+ have continued to ignore Nigeria because of the country’s increasingly weak economy. Poor political leadership over the years has dwarfed Nigeria’s development, hence the country has not been able to meet the socio-economic standards of the G20, a premier global bloc for discussing economic issues; and the BRICS+, a nine-member economic and political force.
An import-dependent economy coupled with market instability and the unpredictable forex exchange regime cannot attract investors or economic allies ¹ ². These were the thoughts of Nigeria’s former Deputy Permanent Representative to the United Nations, Usman Sarki; Nigeria’s former Ambassador to the Benin Republic, Lawrence Obisakin; and ex-Senior Advisor to the United Nations (Nigeria Office),
Fred Eno. South Africa, with about 62.4 million population, and a Gross Domestic Product of $373.23bn, according to data by the International Monetary Fund (IMF), is a member of BRICS+ and the G20, while Nigeria with 227 million people and $252.74bn GDP is not a member of both blocs. Sarki said the membership of the two global groups is not automatic and that Nigeria has not met the economic standards to join the blocs.
He said Nigerian leaders must have the discipline to organize and stabilize the economy to attract investors and create jobs as these would send the right signals to the international community. Obisakin agreed with Sarki saying that no global bloc would want to work together with a country when there are no common interests. Obisakin, a former Nigerian Ambassador to the Benin Republic, said becoming a member of the G20 and BRICS+ goes beyond having a large population and vast geographical spread. He said when a nation is strong economically, people would want to identify with it.
When you talk about the strength of a nation, it’s not just demography, population could be a disaster if not a liability, we are talking of the Nigerian population being well trained and equipped. A country that is unable to feed itself is unstable, he added.
He noted political stability and security as another factor considered by developmental partners. Citing the recent suicide bombings in the Gwoza area of Borno State, the ex-envoy said, A country that is insecure cannot attract investments because if it can happen in the country, it can happen anywhere in the country.
Similarly, Eno, a former UN advisor, shared the views of Sarki and Obisaki, saying that with Nigeria’s intimidating population and the size of its economy, being a member of the G20 and the BRICS+ should have been automatic but for institutional challenges.
One would have assumed that it is something natural given the size of the population and the economy. For G20, part of it has to do with our own institutions and how they function, he said. Eno said Nigeria’s institutions are
not manned by the right people to provide the right kind of information that our decision-makers can rely on to make the right policies.
The three ex-envoys urged the Federal Government to set enduring solutions to the challenges of forex exchange volatility, skyrocketing interest rates, soaring inflation, food crisis, and many more encumbrances highlighted by manufacturers and industrialists because the internal dynamics of the country are what shape the image of the country externally
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Leading this edition is a major diplomatic spotlight: “Trump Hosts King Charles, Queen Camilla at White House, Hails ‘Unbreakable’ US-UK Ties.” The story examines renewed transatlantic relations and the strategic implications of high-level engagements between the United States and the United Kingdom.
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