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PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER

Year 2018, Volume: 16 Issue: 3, 11 - 23, 30.09.2018
https://doi.org/10.11611/yead.465370

Abstract

The economic and political strides made by Nigeria and South Africa in the 21st Century have drawn the attention of the world to them. In order to accelerate its goal of enhancing market access opportunities among other objectives to ensure growth as well as compete with G7, the club incorporated the South African state in 2010 when it realized the nation is an emerging power and could be a catalyst in pushing forward the BRIC agenda. Since investors appear to be quite attracted to states with larger prospects of growth, states who are looking out for similar states with interests to form clubs like BRICS are likely to cooperate with Nigeria as it has been projected to be suitable in the formation of clubs such as MINT -Mexico, Indonesia, Nigeria, Turkey-. We argue however that both Nigeria and South could, if brought together in BRICS, facilitate progress in achieving the aims and objectives of the club. But what informed the clubs’ decision of incorporation of South Africa? This paper will the question and give more reasons why Nigeria’s inclusion is necessary

References

  • (2011), BRIC: Belated Christmas Present. Africa Research Bulletin: Economic, Financial and Technical Series, 47: 18934A-18934C. doi:10.1111/j.1467-6346.2011.03646.xAdetokunbo, A. (2017). Nigeria-Russia Bilateral Relations: Problems and Prospects. RUDN Journal of Russian History, 16(3), 477-490.Ademuyiwa I, C Onyekwena, O Taiwo & E Uneze, ‘Nigeria and the BRICS: Current and potential trade relations and their implications for the Nigerian economy’, Occasional Paper 184. Johannesburg: South African Institute of International Affairs, 2014. African Economic Outlook. 2017. “Entrepreneurship and industrialization.” African Development Bank, Organisation for Economic Co-operation and Development, United Nations Development Programme. doi: 10.1787/aeo-2017-en. Agnes, O. (2016). “The Political Economy of Development In Nigeria: From The Colonial To Post Colonial Eras”. The Journal of Humanities and Social Science, 21(9), 09-15. DOI: 10.9790/0837-2109010915.Alao, A. (2011). Nigeria and the Global Powers: Continuity and Change in Policy and Perceptions. South African Foreign Policy and African Drivers Programme, Occasional Paper Series No 96, Johannesburg: SAIIA.BBC News. (2016). Nigerian economy slips into recession retrieved from http://www.bbc.com/news/business-37228741.Brooks, S. M. (2011). BRIC gets built up: South Africa’s inclusion and China’s response. http://www.polity.org.za/article/bric-gets-built-up-south-africas-inclusion-and-chinas-response-2011-01-18Foreign Ministry Spokesperson's Remarks. (2010). “Foreign Ministry Spokesperson Jiang Yu's Regular Press Conference on December 28, 2010,” Ministry of Foreign Affairs of the People’s Republic of China, 29 December 2010. http://sl.china-embassy.org/eng/fyrth/t782317.htm.Hawksworth, J., Audino, H., and Clarry, R. (2017). The long view: how will the global economic order change by 2050. https://www.pwc.com/gx/en/world-2050/assets/pwc-the-world-in-2050-full-report-feb-2017.pdf.Hawksworth J. and G. Cookson. (2008). The World in 2050: Beyond the BRICs: A Broader Look at Emerging Market Growth Prospects. London: Pricewaterhouse Coopers.Huffington Post. (2017). How corruption and political instability have thrown SA into a recession, viewed 06 June 2018, from http://www.huffingtonpost.co.za/2017/06/06/how-corruption-and-political-instability-have-thrown-sa-into-a-r_ a_22128790/Hui, Z. (2018). New Opportunities for China-South Africa Relations in the New Era, http://www.chinatoday.com.cn/ctenglish/2018/ii/201804/t20180410_800126212.htmlImobighe, T. A., Alli, W.O., & Akinyemi, A. B. (2012). Perspectives on Nigeria’s national politics and external relations: Essays in honour of professor A. Bolaji Akinyemi. Ibadan, Nigeria: University PressKornegay, F. A., & Bohler-Muller, N. (2013). Laying the BRICS of a new global order: From Yekateringburg 2009 to Ethekwini 2013. Pretoria: Africa Institute of South AfricaLi, P., Gorrshkov, M. K., Scalon, C.,& Sharma, K. L. (2013). Handbook on Social stratification in the BRIC countries: Change and perspective. New Jersey: World Scientific. Maseland, R. (2017). “Is colonialism history? The declining impact of colonial legacies on African institutional and economic development”. Journal of Institutional Economics, 14 (02), 259-287.Nnorom, N. (2013). Nigeria’s inclusion to BRICS countries requires strong industrial sector retrieved from https://www.vanguardngr.com/2013/10/nigerias-inclusion-brics-countries-requires-strong-industrial-sector-man/ retrieved on June 25, 2018.Odubajo, T. & Akinboye, S. (2017). Nigeria and South Africa: Collaboration or competition? SouthAfrican Journal of International Affairs, 24(1), pp. 61-77. doi:10.1080/10220461.2017.1314224PM News. (2017). We are now ready for business with Nigeria – Brazil. https://www.pmnewsnigeria.com/2017/08/07/now-ready-business-nigeria-brazil/Premium Times. (2017). Nigeria, South Africa trade volume fell to N1.3 trillion in 2016 https://www.premiumtimesng.com/business/business-news/223047-nigeria-south-africa-trade-volume-fell-n1-3-trillion-2016.html.Ramani, S. (2016). China-Nigeria Relations: A Success Story for Beijing's Soft Power. https://thediplomat.com/2016/07/china-nigeria-relations-a-success-story-for-beiings-soft-power/Rewizorski, M. (Ed.) (2015). The European Union and the BRICS: complex relations in the Era of Global Governance. New York: Springer.Sandrey, R. et al (2013). BRICS: South Africa’s Way Ahead? Stellenbosch: Tralac.Schaefer, M. E., & Poffenbarger, J. G. (2014). The Formation of the BRICS and its Implication for the United States: Rising Together. New York: Palgrave Macmillan.Schiller, B. (2011). Beyond the BRICS: Which Countries are Waiting in the Wings to Become Powerhouses of Tomorrow? Financial Management (UK)The World Bank. (2017). Nigeria Economic Update: Beyond Oil, Key Drivers for Sustainable Growth retrieved from http://www.worldbank.org/en/country/nigeria/publication/nigeria-economic-update-beyond-oil-key-drivers-for-sustainable-growth.Vanguard. (2018). India, Nigeria to mark 60 years of relations as trade hits $9.4bn in 2017. https://www.vanguardngr.com/2018/01/india-nigeria-mark-60-years-relations-trade-hits-9-4bn-2017/Waliyullahi, A. D. (2016). Russia/Nigeria Diplomatic Ties: An Historical Perspective. European Scientific Journal, 12(1). pp. 323-334. doi:10.19044/esj.2016.v12n1p323Wilhelm J. P. (2018) BRICS 2018: South Africa sets the pace. http://www.dw.com/en/brics-2018-south-africa-sets-the-pace/a-41996771

‘N’NİN BRICS’E KATILIMI MI YOKSA ‘S’NİN YERİNİ ALMASI MI? YÜKSELEN BİR GÜÇ OLARAK NİJERYA

Year 2018, Volume: 16 Issue: 3, 11 - 23, 30.09.2018
https://doi.org/10.11611/yead.465370

Abstract

Nijerya ve Güney Afrika, 21. yüzyılda hem ekonomik hem de siyasi olarak önemli ilerleme kaydetmişlerdir. Fakat G7’ye alternatif olmak için üyelerinin piyasalara erişimini kolaylaştırarak ekonomik büyümelerini garanti altına almayı hedefleyen BRIC 2010 yılında amaçlarını gerçekleştirmek için Güney Afrika’yı yükselen bir güç olarak görüp organizasyonun üyesi olarak kabul etmiştir. Bilindiği üzere yatırımcılar, büyüme potansiyeli yüksek olan devletlere özel önem verirken, BRICS benzeri oluşumlara ilgi gösteren devletlerin kendileri de bir MINT ülkesi olan Nijerya ile işbirliği yapma eğilimindedirler. Fakat Nijerya, BRICS’in amaç ve hedeflerinin gerçekleştirilmesinde Güney Afrika ile birlikte çok daha önemli bir rol oynayabilir.Tam bu noktada ortaya çıkan soru şudur: Neden organizasyon Nijerya yerine Güney Afrika’yı üye olarak seçmiştir? Bu soruya ek olarak, bu makale Nijerya’nın organizasyona katılımı gerekli mi sorusuna da cevap arayacaktır?

References

  • (2011), BRIC: Belated Christmas Present. Africa Research Bulletin: Economic, Financial and Technical Series, 47: 18934A-18934C. doi:10.1111/j.1467-6346.2011.03646.xAdetokunbo, A. (2017). Nigeria-Russia Bilateral Relations: Problems and Prospects. RUDN Journal of Russian History, 16(3), 477-490.Ademuyiwa I, C Onyekwena, O Taiwo & E Uneze, ‘Nigeria and the BRICS: Current and potential trade relations and their implications for the Nigerian economy’, Occasional Paper 184. Johannesburg: South African Institute of International Affairs, 2014. African Economic Outlook. 2017. “Entrepreneurship and industrialization.” African Development Bank, Organisation for Economic Co-operation and Development, United Nations Development Programme. doi: 10.1787/aeo-2017-en. Agnes, O. (2016). “The Political Economy of Development In Nigeria: From The Colonial To Post Colonial Eras”. The Journal of Humanities and Social Science, 21(9), 09-15. DOI: 10.9790/0837-2109010915.Alao, A. (2011). Nigeria and the Global Powers: Continuity and Change in Policy and Perceptions. South African Foreign Policy and African Drivers Programme, Occasional Paper Series No 96, Johannesburg: SAIIA.BBC News. (2016). Nigerian economy slips into recession retrieved from http://www.bbc.com/news/business-37228741.Brooks, S. M. (2011). BRIC gets built up: South Africa’s inclusion and China’s response. http://www.polity.org.za/article/bric-gets-built-up-south-africas-inclusion-and-chinas-response-2011-01-18Foreign Ministry Spokesperson's Remarks. (2010). “Foreign Ministry Spokesperson Jiang Yu's Regular Press Conference on December 28, 2010,” Ministry of Foreign Affairs of the People’s Republic of China, 29 December 2010. http://sl.china-embassy.org/eng/fyrth/t782317.htm.Hawksworth, J., Audino, H., and Clarry, R. (2017). The long view: how will the global economic order change by 2050. https://www.pwc.com/gx/en/world-2050/assets/pwc-the-world-in-2050-full-report-feb-2017.pdf.Hawksworth J. and G. Cookson. (2008). The World in 2050: Beyond the BRICs: A Broader Look at Emerging Market Growth Prospects. London: Pricewaterhouse Coopers.Huffington Post. (2017). How corruption and political instability have thrown SA into a recession, viewed 06 June 2018, from http://www.huffingtonpost.co.za/2017/06/06/how-corruption-and-political-instability-have-thrown-sa-into-a-r_ a_22128790/Hui, Z. (2018). New Opportunities for China-South Africa Relations in the New Era, http://www.chinatoday.com.cn/ctenglish/2018/ii/201804/t20180410_800126212.htmlImobighe, T. A., Alli, W.O., & Akinyemi, A. B. (2012). Perspectives on Nigeria’s national politics and external relations: Essays in honour of professor A. Bolaji Akinyemi. Ibadan, Nigeria: University PressKornegay, F. A., & Bohler-Muller, N. (2013). Laying the BRICS of a new global order: From Yekateringburg 2009 to Ethekwini 2013. Pretoria: Africa Institute of South AfricaLi, P., Gorrshkov, M. K., Scalon, C.,& Sharma, K. L. (2013). Handbook on Social stratification in the BRIC countries: Change and perspective. New Jersey: World Scientific. Maseland, R. (2017). “Is colonialism history? The declining impact of colonial legacies on African institutional and economic development”. Journal of Institutional Economics, 14 (02), 259-287.Nnorom, N. (2013). Nigeria’s inclusion to BRICS countries requires strong industrial sector retrieved from https://www.vanguardngr.com/2013/10/nigerias-inclusion-brics-countries-requires-strong-industrial-sector-man/ retrieved on June 25, 2018.Odubajo, T. & Akinboye, S. (2017). Nigeria and South Africa: Collaboration or competition? SouthAfrican Journal of International Affairs, 24(1), pp. 61-77. doi:10.1080/10220461.2017.1314224PM News. (2017). We are now ready for business with Nigeria – Brazil. https://www.pmnewsnigeria.com/2017/08/07/now-ready-business-nigeria-brazil/Premium Times. (2017). Nigeria, South Africa trade volume fell to N1.3 trillion in 2016 https://www.premiumtimesng.com/business/business-news/223047-nigeria-south-africa-trade-volume-fell-n1-3-trillion-2016.html.Ramani, S. (2016). China-Nigeria Relations: A Success Story for Beijing's Soft Power. https://thediplomat.com/2016/07/china-nigeria-relations-a-success-story-for-beiings-soft-power/Rewizorski, M. (Ed.) (2015). The European Union and the BRICS: complex relations in the Era of Global Governance. New York: Springer.Sandrey, R. et al (2013). BRICS: South Africa’s Way Ahead? Stellenbosch: Tralac.Schaefer, M. E., & Poffenbarger, J. G. (2014). The Formation of the BRICS and its Implication for the United States: Rising Together. New York: Palgrave Macmillan.Schiller, B. (2011). Beyond the BRICS: Which Countries are Waiting in the Wings to Become Powerhouses of Tomorrow? Financial Management (UK)The World Bank. (2017). Nigeria Economic Update: Beyond Oil, Key Drivers for Sustainable Growth retrieved from http://www.worldbank.org/en/country/nigeria/publication/nigeria-economic-update-beyond-oil-key-drivers-for-sustainable-growth.Vanguard. (2018). India, Nigeria to mark 60 years of relations as trade hits $9.4bn in 2017. https://www.vanguardngr.com/2018/01/india-nigeria-mark-60-years-relations-trade-hits-9-4bn-2017/Waliyullahi, A. D. (2016). Russia/Nigeria Diplomatic Ties: An Historical Perspective. European Scientific Journal, 12(1). pp. 323-334. doi:10.19044/esj.2016.v12n1p323Wilhelm J. P. (2018) BRICS 2018: South Africa sets the pace. http://www.dw.com/en/brics-2018-south-africa-sets-the-pace/a-41996771
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Details

Primary Language English
Journal Section Articles
Authors

Mohammed Hashıru 0000-0001-6855-3566

Özgür Tüfekçi

Publication Date September 30, 2018
Published in Issue Year 2018 Volume: 16 Issue: 3

Cite

APA Hashıru, M., & Tüfekçi, Ö. (2018). PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER. Journal of Management and Economics Research, 16(3), 11-23. https://doi.org/10.11611/yead.465370
AMA Hashıru M, Tüfekçi Ö. PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER. Journal of Management and Economics Research. September 2018;16(3):11-23. doi:10.11611/yead.465370
Chicago Hashıru, Mohammed, and Özgür Tüfekçi. “PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER”. Journal of Management and Economics Research 16, no. 3 (September 2018): 11-23. https://doi.org/10.11611/yead.465370.
EndNote Hashıru M, Tüfekçi Ö (September 1, 2018) PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER. Journal of Management and Economics Research 16 3 11–23.
IEEE M. Hashıru and Ö. Tüfekçi, “PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER”, Journal of Management and Economics Research, vol. 16, no. 3, pp. 11–23, 2018, doi: 10.11611/yead.465370.
ISNAD Hashıru, Mohammed - Tüfekçi, Özgür. “PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER”. Journal of Management and Economics Research 16/3 (September 2018), 11-23. https://doi.org/10.11611/yead.465370.
JAMA Hashıru M, Tüfekçi Ö. PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER. Journal of Management and Economics Research. 2018;16:11–23.
MLA Hashıru, Mohammed and Özgür Tüfekçi. “PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER”. Journal of Management and Economics Research, vol. 16, no. 3, 2018, pp. 11-23, doi:10.11611/yead.465370.
Vancouver Hashıru M, Tüfekçi Ö. PUTTING ‘N’ or REPLACING THE ‘S’ IN THE BRICS? NIGERIA’S RISE AS AN EMERGING POWER. Journal of Management and Economics Research. 2018;16(3):11-23.