Nigeria and the BRICS: Current and Potential Trade Relations and their Implications for the Nigerian Economy

The paper finds that Nigeria's trade with BRICS is heavily skewed toward crude oil exports and manufactured imports, with China and South Africa playing the most significant roles in driving Nigerian GDP growth through imports and exports, respectively.

• Nigeria's export structure is highly undiversified and lacks complementarity with BRICS import needs, with crude oil and related mineral fuels accounting for 97% of exports to these countries in 2011.
• Imports from China have a statistically significant positive impact on Nigeria's GDP, likely because China is the primary supplier of manufactured goods, chemicals, and machinery and transport equipment necessary for economic growth.
• Exports to South Africa are growth-inducing for the Nigerian economy, a trend attributed to the rising intensity of non-oil exports, specifically machinery and transport equipment.
• Nigeria maintains trade surpluses with India, Brazil, and South Africa, but faces a growing trade deficit with China and a smaller deficit with Russia.
• Trade relations with Russia are the weakest among the BRICS group due to both countries exporting similar primary products (crude oil and natural gas) and Nigeria's lack of efficiency in other export sectors.
• India represents one of the strongest and most traditional BRICS trade ties for Nigeria, as India is the second largest destination for Nigerian crude oil after the US.

APA

Ademuyiwa, I., Onyekwena, C., Taiwo, O., & Uneze, E. (2014). Nigeria and the BRICS: Current and Potential Trade Relations and their Implications for the Nigerian Economy. South African Institute of International Affairs. https://saiia.org.za/wp-content/uploads/2014/05/Occasional-Paper-184.pdf

Chicago

Ademuyiwa, Idris, Chukwuka Onyekwena, Olumide Taiwo, and Eberechukwu Uneze. Nigeria and the BRICS: Current and Potential Trade Relations and their Implications for the Nigerian Economy. South African Institute of International Affairs, 2014. https://saiia.org.za/wp-content/uploads/2014/05/Occasional-Paper-184.pdf.

Wikipedia

{{cite report |last1=Ademuyiwa |first1=Idris |last2=Onyekwena |first2=Chukwuka |last3=Taiwo |first3=Olumide |last4=Uneze |first4=Eberechukwu |title=Nigeria and the BRICS: Current and Potential Trade Relations and their Implications for the Nigerian Economy |publisher=South African Institute of International Affairs |date=May 2014 |url=https://saiia.org.za/wp-content/uploads/2014/05/Occasional-Paper-184.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{ademuyiwa2014nigeria, author = {Ademuyiwa, Idris and Onyekwena, Chukwuka and Taiwo, Olumide and Uneze, Eberechukwu}, title = {{Nigeria and the BRICS: Current and Potential Trade Relations and their Implications for the Nigerian Economy}}, institution = {South African Institute of International Affairs}, year = {2014}, month = may, url = {https://saiia.org.za/wp-content/uploads/2014/05/Occasional-Paper-184.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }