Shettima Backs WTO As Nigeria Seeks Bigger Trade And Investment Opportunities At BRICS Summit
By Iroyin Yoruba Television News Desk
Nigeria has reaffirmed its commitment to the World Trade Organisation and the multilateral trading system as Vice President Kashim Shettima used the ongoing BRICS Leaders’ Summit in New Delhi, India, to push for deeper economic cooperation, stronger trade relationships and greater opportunities for developing countries.
Shettima made the position known on Saturday, September 12, 2026, during a meeting with WTO Director-General Ngozi Okonjo-Iweala on the sidelines of the summit.
The Vice President said countries could not achieve sustainable prosperity by isolating themselves from the global economy, stressing the importance of cooperation and an international trading system that provides opportunities for both developed and developing economies.
The engagement is particularly significant for Nigeria because the country is attempting to expand its economic relationships beyond traditional markets while simultaneously pursuing domestic reforms aimed at increasing production, attracting investment, strengthening manufacturing and expanding non-oil exports.
Nigeria became a BRICS partner country in January 2025 and has increasingly used its participation in the grouping to seek stronger South-South cooperation with major emerging economies.
The 2026 BRICS summit in New Delhi is being held under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.”
Shettima is representing President Bola Ahmed Tinubu at the summit and is leading a high-level Nigerian delegation that includes the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu; Minister of Industry, Trade and Investment, Jumoke Oduwole; Minister of Communications, Innovation and Digital Economy, Bosun Tijani; and Minister of Environment, Balarabe Lawal.
The Nigerian delegation is seeking opportunities in trade, investment, agriculture, technology, artificial intelligence, industrial development, energy and the digital economy.
The meeting with the WTO chief therefore places Nigeria's BRICS engagement within a wider economic strategy.
Rather than treating BRICS and the WTO as competing platforms, the Nigerian government is presenting them as complementary avenues through which the country can expand economic opportunities while continuing to participate in the rules-based global trading system.
NIGERIA'S MESSAGE TO THE GLOBAL ECONOMY
The central message from Shettima is that Nigeria does not want to withdraw from the international economy.
Instead, the country wants greater participation on terms that allow developing economies to benefit more substantially from global trade.
For decades, Nigeria's relationship with international trade has been heavily influenced by its dependence on crude oil.
Oil exports have provided a substantial portion of the country's foreign-exchange earnings and government revenue.
But the heavy dependence on crude has also exposed Nigeria to international price fluctuations.
When oil prices rise, government revenues and foreign-exchange earnings can benefit.
When prices fall, the country's fiscal position can come under pressure.
This has strengthened the argument for economic diversification.
Nigeria needs to export more manufactured goods, agricultural products, processed commodities, services and technology.
That requires access to international markets.
It also requires investment.
It requires infrastructure.
It requires reliable energy.
It requires standards that Nigerian producers can meet.
And it requires trade agreements and institutions that allow Nigerian businesses to compete.
This is why the WTO remains relevant to Nigeria even as the country expands its engagement with BRICS.
WHY THE WTO MATTERS TO NIGERIA
The World Trade Organisation provides the main institutional framework for global trade rules.
Its role includes facilitating negotiations among member countries, monitoring trade policies and providing mechanisms for resolving trade disputes.
For a developing economy such as Nigeria, predictable trade rules can be important for attracting investment and developing export industries.
Businesses are more likely to make long-term investment decisions when they understand the rules governing access to markets.
If tariffs, regulations and trade restrictions can change without predictable procedures, companies may become reluctant to invest.
Nigeria therefore has an interest in maintaining a trading environment in which countries are expected to operate according to agreed rules.
At the same time, Nigeria and many other developing countries have argued that the global trading system must become more responsive to the needs of developing economies.
This is one of the issues underlying the country's continued support for WTO reform.
BRICS AND THE SEARCH FOR GREATER GLOBAL INFLUENCE
BRICS has become increasingly important in discussions about the changing global economic order.
The grouping originally brought together Brazil, Russia, India and China before South Africa joined.
It has since expanded significantly, with Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia becoming members.
Nigeria became a partner country rather than a full member.
The expanded grouping represents a large share of the world's population and a significant portion of global economic activity.
Its members have increasingly called for greater representation for developing countries in international institutions.
They have also pushed for stronger cooperation in areas including trade, finance, investment, technology and development.
Nigeria's participation provides the country with another platform for engaging major emerging economies.
For Abuja, the attraction is clear.
Countries within and around BRICS include some of the world's largest economies and major sources of capital, technology and industrial expertise.
Nigeria wants to convert those relationships into tangible economic opportunities.
NIGERIA'S $14 BILLION TRADE RELATIONSHIP WITH INDIA
One of the most immediate opportunities being pursued at the summit is Nigeria's relationship with India.
The two countries have a long history of commercial relations.
Recent government discussions have placed the value of bilateral trade at around $14 billion, while Nigerian officials are seeking to expand the relationship beyond traditional commodity exchanges.
Nigeria wants to attract additional Indian investment and expand commercial cooperation in sectors capable of generating employment and increasing productive capacity.
Indian companies have experience in pharmaceuticals, technology, manufacturing, agriculture, infrastructure and other areas relevant to Nigeria's development needs.
Nigeria, meanwhile, has a large consumer market and abundant natural resources.
The challenge is converting those advantages into a more balanced economic relationship.
That means Nigeria must increase the amount and value of goods and services it exports.
Simply importing more products from India without significantly expanding Nigerian exports could widen the trade imbalance.
The government therefore has an interest in encouraging investments that help Nigerian companies produce goods for domestic consumption and export.
ENERGY REMAINS A MAJOR AREA OF INTEREST
Energy is another major component of Nigeria's international economic strategy.
Nigeria remains a major oil-producing country, while India is one of the world's largest energy-consuming economies.
Nigerian officials have indicated that they want to rebuild and expand energy trade with India, including crude-oil exports.
The international energy market has become particularly volatile in recent months.
Geopolitical conflicts have disrupted petroleum supply chains and pushed crude prices sharply higher.
That environment creates both opportunities and risks for Nigeria.
Higher crude prices can increase export earnings.
But the same situation can also increase domestic fuel costs and inflationary pressure.
For Nigeria, the long-term objective should therefore be to use energy revenues to support broader economic transformation rather than remain dependent on crude exports.
TRADE DIVERSIFICATION
The Nigerian delegation is also looking beyond oil.
Agriculture is one of the areas identified for deeper cooperation.
Nigeria has substantial agricultural potential, but a significant portion of its agricultural output is still sold with limited processing.
Processing agricultural products locally can increase their value.
For example, instead of exporting raw agricultural commodities, Nigeria can develop industries that process those products into finished or semi-finished goods.
That creates jobs.
It increases export value.
It can improve farmers' incomes.
And it can reduce dependence on imported processed food.
International investment could help provide the technology and capital required to develop these industries.
However, Nigeria must ensure that investment partnerships contribute to local capacity rather than simply turning the country into a market for imported products.
TECHNOLOGY IS NOW CENTRAL TO THE DISCUSSION
Technology has become another major focus of Nigeria's engagement with India and other emerging economies.
Nigeria has one of Africa's largest youth populations.
That demographic structure creates both a challenge and an opportunity.
If young Nigerians have access to education, technology, capital and employment, they can become a major driver of economic growth.
If opportunities remain limited, unemployment and underemployment can increase pressure on households and government.
India's experience in using technology to create opportunities for a large young population is therefore of particular interest to Nigerian policymakers.
Nigeria's delegation has identified digital technology and artificial intelligence as areas where deeper cooperation could be beneficial.
The objective is not simply to import technology.
Nigeria needs to develop its own technology ecosystem.
That means supporting Nigerian startups, training software developers, expanding digital infrastructure and improving access to affordable internet.
It also means developing policies that allow technology companies to scale.
ARTIFICIAL INTELLIGENCE AND THE NIGERIAN ECONOMY
Artificial intelligence is rapidly changing global industries.
It is affecting finance, healthcare, manufacturing, agriculture, logistics, education and professional services.
For Nigeria, AI could provide opportunities to increase productivity and create new forms of employment.
Agricultural businesses could use data to improve production decisions.
Financial institutions could improve fraud detection.
Healthcare providers could use technology to support diagnosis and patient management.
Manufacturers could use AI to optimise production.
Educational platforms could personalise learning.
Government agencies could automate administrative processes.
But these opportunities depend on infrastructure.
AI systems require computing capacity, reliable electricity, data and skilled workers.
Nigeria therefore needs to invest not only in software but also in the underlying infrastructure that supports digital transformation.
DIGITAL SKILLS AND YOUTH EMPLOYMENT
Nigeria's large youth population means digital skills development could become a major component of economic policy.
The government has already identified digital skills as an important area of its economic agenda.
International partnerships can help Nigerian institutions access technology, training and expertise.
But skills programmes must be connected to actual employment opportunities.
Training thousands of young people without creating pathways into jobs or entrepreneurship will have limited impact.
The goal should be to build an ecosystem in which trained young Nigerians can work for Nigerian companies, international firms, startups or their own businesses.
That is where the connection between trade, investment and technology becomes important.
International investment can create demand for skilled workers.
Local businesses can participate in global supply chains.
Nigerian technology companies can export services.
And young Nigerians can earn income without necessarily leaving the country.
MIGRATION AS AN ECONOMIC ASSET
Another major issue raised by Shettima during the New Delhi engagement was migration.
The Vice President argued that migration should be understood not simply as a challenge but also as a driver of development, innovation and economic growth.
That position is important because Nigeria has a large diaspora spread across different parts of the world.
Nigerians living abroad contribute to the economy through remittances, investments, professional expertise and international networks.
Many Nigerians working in technology, medicine, finance, engineering, academia and other professional sectors have built careers outside the country.
The challenge is to ensure that migration contributes to Nigeria's development rather than representing a permanent loss of talent.
Diaspora engagement can help.
Professionals living abroad can invest in Nigerian companies.
They can establish businesses.
They can train local workers.
They can provide international market connections.
They can participate in research.
They can also help Nigerian companies access foreign customers.
THE BRAIN DRAIN QUESTION
Nigeria has long faced concerns about brain drain.
Highly trained professionals sometimes leave the country because of better salaries, working conditions and career opportunities abroad.
The departure of skilled workers can create shortages in critical sectors.
Healthcare is one example.
Technology and engineering are others.
But migration is not necessarily a permanent loss.
If Nigeria creates strong diaspora networks, professionals who live abroad can continue contributing to the country.
They may return permanently.
They may establish businesses while remaining abroad.
They may invest.
They may teach remotely.
They may collaborate with Nigerian institutions.
The government therefore has an opportunity to shift the conversation from brain drain to global Nigerian talent.
TRADE AND MIGRATION ARE CONNECTED
Migration and trade are also connected.
People who live abroad often create networks that facilitate international commerce.
A Nigerian entrepreneur in India, Europe, North America or another African country may understand both markets.
That person can help Nigerian companies find customers, suppliers or investment partners.
Diaspora communities can therefore serve as informal trade bridges.
Government policy can support these connections through investment platforms, trade missions and business networks.
This is part of the broader reason why Shettima has argued against viewing migration only through the lens of border control.
THE IMPORTANCE OF REMITTANCES
Nigerians living abroad send significant amounts of money back home.
Remittances support households, education, healthcare, housing and small businesses.
They also provide foreign exchange.
But remittances alone cannot substitute for productive investment.
The government would ideally like to see a greater proportion of diaspora financial resources move into businesses and productive assets.
That could create jobs and generate additional economic activity.
Policies that make it easier for Nigerians abroad to invest safely and transparently can therefore be important.
THE BRICS DEVELOPMENT FINANCE OPPORTUNITY
Another area of interest is development finance.
BRICS has established the New Development Bank, which finances infrastructure and development projects.
For Nigeria, access to alternative sources of development finance could be useful.
The country has major infrastructure needs.
Roads, railways, electricity, water systems, ports, industrial parks and digital infrastructure all require substantial capital.
Traditional sources of financing can be expensive or subject to conditions that developing countries may find difficult.
Alternative development-finance institutions can therefore provide additional options.
However, borrowing must remain sustainable.
Nigeria cannot solve every infrastructure problem through debt.
Projects financed through borrowing should ideally generate economic value that can support repayment.
LOCAL-CURRENCY TRADE
The BRICS summit has also placed emphasis on increasing the use of local currencies in trade and investment.
The group's latest declaration reaffirmed support for strengthening the multilateral trading system while also promoting greater cooperation in cross-border payments and local-currency financing.
For Nigeria, the development is potentially important because international trade often requires access to major reserve currencies.
If businesses can settle some transactions directly using local currencies, transaction costs could potentially be reduced.
However, local-currency trade is not simple.
Currencies need to be sufficiently liquid.
Businesses need confidence in exchange-rate mechanisms.
Central banks need systems capable of processing cross-border payments.
And companies need ways to manage currency risks.
The idea therefore requires careful implementation.
WHY WTO REFORM MATTERS
Nigeria's support for the WTO comes at a time when the organisation faces pressure to adapt to changes in the global economy.
Trade is increasingly affected by digital commerce, artificial intelligence, supply-chain disruptions, environmental policies, geopolitical tensions and unilateral tariffs.
Traditional trade rules were developed in a different economic environment.
Developing countries argue that the system must evolve without losing its core principles.
The latest BRICS declaration also called for WTO reform and reaffirmed support for a non-discriminatory, open, equitable, transparent, fair and predictable multilateral trading system.
The declaration further called for the restoration of an effective two-tier WTO dispute-settlement mechanism.
For countries such as Nigeria, predictable dispute resolution is important because smaller economies need institutional mechanisms through which they can challenge trade measures they believe violate agreed rules.
THE PROBLEM OF PROTECTIONISM
Global trade has increasingly been affected by protectionist policies.
Countries sometimes raise tariffs or introduce other restrictions to protect domestic industries.
Governments may justify such measures on economic-security, employment or national-interest grounds.
But widespread protectionism can increase costs and disrupt supply chains.
Developing countries can be particularly vulnerable because their industries may depend on imported machinery, components or raw materials.
At the same time, developing economies also want the policy space to protect strategic industries while they grow.
The challenge is finding a balance between open trade and legitimate development policies.
Nigeria's position appears to favour a system that remains open but also gives developing countries meaningful opportunities to industrialise.
NIGERIA'S INDUSTRIAL AMBITION
The government's participation in BRICS is closely connected to its industrialisation agenda.
Nigeria wants to produce more goods domestically.
It wants to reduce dependence on imported manufactured products.
It wants to attract factories.
It wants to increase exports.
It wants to develop industrial clusters.
And it wants to create jobs for a rapidly growing population.
International trade can support those objectives if domestic businesses become competitive.
But trade liberalisation without domestic productive capacity can also expose local companies to intense competition from foreign producers.
This is why Nigeria's trade policy needs to be coordinated with industrial policy.
Factories require electricity.
They require transport.
They require financing.
They require skilled workers.
They require access to markets.
They require stable regulations.
Trade policy alone cannot create industrialisation.
INVESTMENT MUST PRODUCE JOBS
Attracting foreign investment is important, but the quality of investment matters.
Nigeria needs investments that create productive capacity.
A factory that employs thousands of Nigerians and exports products provides different economic benefits from a business that simply imports finished products and sells them locally.
The government should therefore focus on investment that supports manufacturing, technology transfer, local supply chains and skills development.
This is particularly important as Nigerian officials seek to attract investors from BRICS countries.
The country has a large consumer market, but its objective should be to become a production centre as well.
INDIA AS A DEVELOPMENT EXAMPLE
India is particularly relevant to Nigeria because both countries have large populations and have had to manage complex development challenges.
India has developed strong capabilities in information technology, pharmaceuticals, digital services, manufacturing and space technology.
Nigeria can learn from India's experience without simply copying its policies.
The important lesson is that large populations can become economic assets when supported by skills, infrastructure and productive industries.
Nigeria's young population can similarly become a source of growth.
But that requires investment in education and technical training.
AGRICULTURE AND FOOD SECURITY
Agriculture is another area where Nigeria can benefit from international partnerships.
The country has large areas of arable land and a significant agricultural workforce.
However, productivity remains uneven.
Farmers often face challenges involving financing, irrigation, storage, transport, fertiliser, access to machinery and markets.
Technology and investment can help address some of those challenges.
Indian expertise in agricultural technology, irrigation, processing and rural enterprise could potentially provide useful opportunities.
Nigeria could also expand exports of processed agricultural products if infrastructure and standards improve.
MINERALS AND INDUSTRIAL DEVELOPMENT
Nigeria's solid minerals sector represents another area of potential cooperation.
The country has deposits of various minerals that are important to modern industries.
Global demand for minerals used in batteries, electronics, renewable energy equipment and manufacturing is increasing.
Nigeria's challenge is to ensure that mineral resources generate broad economic benefits.
Simply exporting raw minerals provides less value than developing processing industries domestically.
International investors can contribute capital and technology.
But Nigeria must establish clear regulations that protect communities, ensure environmental standards and increase local value addition.
THE NEED FOR INFRASTRUCTURE
None of these ambitions can succeed without infrastructure.
A manufacturer cannot efficiently export goods if roads to ports are unreliable.
A technology company cannot operate at scale if electricity and internet connectivity are unstable.
A farmer cannot access distant markets if transport costs are excessively high.
An industrial investor cannot plan confidently if power supply remains unpredictable.
This means Nigeria's international economic diplomacy must be connected to domestic infrastructure policy.
Every trade and investment agreement should ultimately translate into productive activity inside the country.
NIGERIA'S POSITION AS A BRICS PARTNER
Nigeria's status as a BRICS partner gives it access to an important diplomatic and economic platform.
But partnership status alone will not create jobs or increase exports.
Nigeria has to use the platform strategically.
The country needs to identify specific projects.
It needs to identify investors.
It needs to negotiate practical agreements.
It needs to establish timelines.
And it needs to measure results.
The success of the BRICS relationship should therefore eventually be judged by tangible outcomes.
More investment.
More exports.
More manufacturing.
More technology transfer.
More infrastructure.
More jobs.
Those are the indicators Nigerians will ultimately care about.
THE ROLE OF PRIVATE BUSINESS
Government diplomacy can open doors, but businesses must ultimately use those opportunities.
Nigerian companies need to become more export-ready.
They need to meet international quality standards.
They need reliable financial systems.
They need professional management.
They need packaging and logistics capable of serving foreign markets.
They also need information about consumer demand in different countries.
The government can support this process through trade missions, export financing, standards development and diplomatic assistance.
But private businesses must remain central to the process.
WHAT NIGERIA CAN EXPORT
Nigeria has numerous products and services that could potentially become more competitive internationally.
Agricultural products include cocoa, sesame, cashew, ginger, rubber and other commodities.
Manufacturing opportunities include processed foods, chemicals, pharmaceuticals, textiles and consumer goods.
Services are increasingly important.
Nigerian technology companies already serve customers beyond the country's borders.
Creative industries also have international reach.
Music, film, fashion and digital entertainment can generate foreign revenue while promoting Nigerian culture.
The government has increasingly recognised the creative economy as an area with substantial job-creation potential.
THE GLOBAL SOUTH DIMENSION
Shettima's engagement also reflects Nigeria's desire to strengthen relations with countries of the Global South.
For decades, much of the international economic system has been shaped by institutions and economies based in North America and Europe.
Emerging economies increasingly want a stronger voice in global governance.
Nigeria shares that interest.
The country wants reforms that give developing nations greater representation in institutions such as the IMF, World Bank and WTO.
At the same time, Nigeria does not want to isolate itself from Western markets.
Its largest trading and investment relationships extend across different regions.
This explains why the government's approach combines BRICS engagement with continued support for the WTO.
BALANCING MULTIPLE PARTNERS
Nigeria's foreign economic policy increasingly requires balance.
The country needs investment from China.
It needs trade with India.
It maintains extensive relationships with the United States and Europe.
It participates in African regional institutions.
It is a major member of ECOWAS.
It also wants stronger relations with Gulf economies and other emerging markets.
Nigeria therefore cannot afford to depend exclusively on one economic bloc.
Diversification of diplomatic and economic partnerships can actually strengthen the country's negotiating position.
THE BRICS DECLARATION
The New Delhi BRICS Declaration adopted on September 12 placed strong emphasis on multilateralism, WTO reform and international cooperation.
The document expressed concern about unilateral tariffs and non-tariff measures that it said could distort trade, disrupt supply chains and increase uncertainty in the global economy.
It also reaffirmed support for developing countries having greater representation in global financial institutions.
For Nigeria, these positions align with its broader argument that the global economy should provide more space for developing countries to participate in trade and investment.
WHAT THIS MEANS FOR NIGERIAN BUSINESSES
For Nigerian businesses, the summit could eventually create opportunities if government negotiations translate into practical agreements.
Companies involved in agriculture may gain access to new markets.
Technology companies may find international partners.
Manufacturers may attract investment.
Energy companies may develop new commercial relationships.
Financial institutions may participate in cross-border transactions.
But Nigerian businesses will also face competition.
Greater international integration means foreign companies may enter the Nigerian market more aggressively.
Local businesses therefore need to improve productivity and quality.
The government must also ensure that domestic firms have access to the infrastructure and financing required to compete.
THE CURRENCY CHALLENGE
Currency stability remains another factor.
Nigeria's naira has experienced significant volatility in recent years.
For importers and exporters, exchange-rate uncertainty can complicate planning.
A manufacturer may agree to buy equipment at one exchange rate and receive the equipment months later at another.
An exporter may earn foreign currency but face uncertainty when converting revenues into naira.
International investors also consider currency risk when deciding whether to invest.
Strengthening macroeconomic stability will therefore remain important to Nigeria's trade ambitions.
TRADE DOES NOT AUTOMATICALLY CREATE PROSPERITY
The Vice President's argument for multilateralism does not mean that simply increasing trade will solve Nigeria's economic problems.
Trade creates opportunities, but domestic capacity determines whether a country can take advantage of them.
If Nigeria cannot produce competitively, increased market access may primarily benefit foreign producers.
If Nigeria develops productive industries, however, international markets can provide enormous opportunities.
The policy challenge is therefore to build the domestic foundations needed to benefit from international trade.
THE NEXT PHASE FOR NIGERIA
The New Delhi engagement should ideally be followed by practical implementation in Nigeria.
Government ministries need to identify priority agreements.
Investors need clear information about opportunities.
Businesses need assistance entering foreign markets.
Exporters need financing.
Manufacturers need infrastructure.
Young people need skills.
And regulators need to ensure that trade agreements protect legitimate national interests while maintaining international commitments.
The summit should therefore be treated as the beginning of a process rather than the end.
CONCLUSION
Vice President Kashim Shettima's reaffirmation of Nigeria's support for the World Trade Organisation and the multilateral trading system at the BRICS Summit in New Delhi has placed Nigeria's international economic strategy at the centre of discussions about the changing global economy.
Meeting WTO Director-General Ngozi Okonjo-Iweala on Saturday, Shettima stressed that sustainable prosperity cannot be achieved through isolation and reaffirmed Nigeria's support for international cooperation.
The position is significant because Nigeria is simultaneously strengthening its engagement with BRICS, an expanding grouping of major emerging economies.
Nigeria became a BRICS partner country in January 2025 and has since sought to use the platform to deepen South-South cooperation and attract investment.
At the 2026 summit, the Nigerian delegation is focusing on trade, investment, agriculture, technology, artificial intelligence, energy and industrial development.
The country's relationship with India is particularly important.
Bilateral trade has previously been valued at around $14 billion, and Nigeria is now seeking to expand the relationship by attracting additional investment and increasing cooperation in technology, agriculture, energy and other sectors.
The Nigerian government is also looking to strengthen crude-oil trade with India while simultaneously pursuing opportunities that can diversify the country's economy.
That balance will be critical.
Nigeria needs the revenue generated by its energy sector, but it cannot afford to remain overwhelmingly dependent on crude oil.
A more diversified economy would be better positioned to withstand fluctuations in global commodity prices.
Manufacturing, agriculture, technology, services, creative industries and solid minerals all offer potential opportunities.
The BRICS platform can help Nigeria access markets, capital, technology and partnerships.
But the country must ensure that international engagement produces concrete domestic benefits.
Investment should create productive capacity.
Technology partnerships should develop Nigerian skills.
Trade agreements should increase opportunities for Nigerian exporters.
Infrastructure financing should support projects that generate economic value.
And international cooperation should contribute to long-term development rather than simply increasing imports.
The Vice President's comments on migration also highlight another important dimension of Nigeria's international economic strategy.
Millions of Nigerians live and work abroad, and their contributions extend beyond remittances.
The diaspora represents a network of professionals, entrepreneurs, researchers and investors who can help connect Nigeria to global markets.
Instead of treating migration solely as a loss of talent, Nigeria can increasingly treat its diaspora as an economic resource.
The same principle applies to international trade.
Nigeria's population should not be viewed only as a large consumer market.
It should become a large productive workforce capable of creating goods and services for the world.
That will require investment in education, skills, infrastructure, technology and industrial capacity.
The latest BRICS declaration's emphasis on strengthening the WTO and resisting unpredictable trade restrictions also aligns with Nigeria's interest in a rules-based international trading system.
For Nigeria, predictable global trade rules can provide a foundation for investment and export expansion.
But the country will also need to participate actively in efforts to reform the international trading system so that developing economies receive a stronger voice.
The ultimate test of Nigeria's BRICS partnership will not be the number of high-level meetings attended.
It will be the economic results that follow.
If Nigerian farmers gain new export markets, if manufacturers attract investment, if technology companies expand internationally, if young Nigerians acquire new skills, if infrastructure improves and if Nigerian products become more competitive globally, then the country's international economic diplomacy will have delivered meaningful results.
If those outcomes do not materialise, the benefits of diplomatic participation will remain largely symbolic.
For now, Nigeria has positioned itself as a country seeking engagement rather than isolation.
It wants stronger relations with emerging economies while maintaining its place within the wider multilateral trading system.
It wants investment from abroad but also wants to expand domestic production.
It wants to benefit from technology while developing its own technology sector.
It wants to strengthen energy exports while pursuing economic diversification.
And it wants its large diaspora to contribute more substantially to national development.
Those objectives are ambitious, but they are increasingly necessary as the global economy becomes more competitive and interconnected.
The BRICS summit in New Delhi therefore provides Nigeria with an important opportunity.
The country has access to major emerging economies and international institutions in one diplomatic setting.
The challenge now is to turn conversations into agreements, agreements into investments and investments into jobs, exports and productive capacity.
That will determine whether Nigeria's expanding international economic engagement becomes a genuine engine of development.
Iroyin Yoruba Television will continue to follow Nigeria's BRICS engagement, trade negotiations and new investment opportunities emerging from the New Delhi summit.