BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar
#bricks #nigeria #india
BRICS member India finalized a major trade partnership with Nigeria on Friday switching away from the US dollar. Both countries will use local currencies in the bilateral trade agreement for energy, pharmaceuticals, and transport sectors. India and Nigeria have agreed to cooperate and settle trade in local currencies and not the US dollar.
However, the local currency in question is yet to be finalized and could be either the Indian rupee or the Nigerian naira. The agreement comes at a time when BRICS is looking to uproot the US dollar as the world’s reserve currency.
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Пікірлер: 617
I'm surprised by Nigeria! I need Ghana, Ivory Coast, Kenya to be next! Africa will rise and shine and be powerful again!
@user-eg6xu3rs5t
Ай бұрын
Remember nagiria is not a member of bricks, bricks were not allowed them to join bricks.
@justicequaye8085
Ай бұрын
Mahama will take Ghana 🇬🇭 there when he comes to power.. I am sure of that …
@lovestrong3582
Ай бұрын
@@user-eg6xu3rs5t It still looks like they don't want America to control them anymore.
@WilyLanet
Ай бұрын
🙏
@binwoods23
Ай бұрын
Amen
Well done Nigeria. Well done India. Hoping to see Ghana and Kenya at the dedollarization table soon.
@Kenol881
28 күн бұрын
India do nothing against dollar till india becom8+ trillion dollar economy, it takes around 10 yrs atleast.
@Trilok_world
27 күн бұрын
@@Kenol881nope India is already 4+ trillions usd Economy in nominal, it will reach 8 to 10 trillions usd in or before 2030.
India ❤ Africa! Lets goo Global South!
@jrkr7357
Ай бұрын
I disagree as India is US's tool to counter China
@lightbeings6243
Ай бұрын
Good..but regime chanfe ll be on way.
@yuppy178
Ай бұрын
Africa? It’s Nigeria… Africa is a continent 😒
@MSDGroup-ez6zk
Ай бұрын
@@yuppy178 According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
@AjayKumar-rt1qv
Ай бұрын
@@yuppy178 story has just begun 😊
I would like to see more countries doing this. The US has abused the current USD system via sanctions and following the law of the jungle.
@kidicarus2768
Ай бұрын
Israel runs the US
@jamesbroughton4706
Ай бұрын
i agree
@jogana6909
Ай бұрын
When US keeps printing money, it's hard to make people believe in your currency system.
@MSDGroup-ez6zk
Ай бұрын
@@jamesbroughton4706 According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
@JulioJimenez-ys8zd
Ай бұрын
So South China post is your source of news 🤪
If Americans think prices are out of control now, just wait until more countries keep ditching the dollar. ITS GONNA GET UGLY. Brace yourself.
@pilotcyborg.gaming
Ай бұрын
exactly
❤Welldone Nigerian and India other African states must follow suit.Dump IMF n World Bank n we need to totally push out Western military boots on our Continent.We need to rely on ourselves and diversify our economiesStop exporting any raw material n create jobs
@williejinnahkosseh2289
Ай бұрын
Well done 👏 BRAVE .
@binwoods23
Ай бұрын
Amen
@richardransome4943
Ай бұрын
America should dump all these countries and stop giving them money. Africa will not be shit because Russia and China will swallow them
@ME-xi1tx
Ай бұрын
For one; just look in 3D global size how BIG Africa is compared to Europe. The whole of Africa is almost 5 times bigger! The African continent counts for 1,.. Billion people. Comparible to China as one (1!) country. So let us just move on and see Africa as one (1!) country. Together with China, Africa stands for almost half of the human population of the world. We own this. Just look for the right partners to build with. That's all..
@MSDGroup-ez6zk
Ай бұрын
@@williejinnahkosseh2289 According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
Absolutely necessary
No more dollar ❤❤❤❤❤❤
@GrandSolarEclipse
Ай бұрын
Indeed, the mark of the beast is being removed
If this is true, it's a great news
Nigeria prove the prediction and make the africa black nation great and gain some respect..trust me Nigeria will become superpower in 20-30years or earlier if corruption stopped
@GrandSolarEclipse
Ай бұрын
If corruption ends ,Nigeria will be a superpower in Africa in 5 years.
@devinrobinsonx4442
Ай бұрын
Heard that IF….ain’t happening
@georgeilawagbon9255
Ай бұрын
Exactly, that's why they are fighting so hard against nigeria with those corrupt politifcians
@ntokozolugogo4762
Ай бұрын
Y'all think Nigeria is the only African country with natural resources and corruption
@MSDGroup-ez6zk
Ай бұрын
@@devinrobinsonx4442 According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
De-dollarization is good for the world 👍
@MSDGroup-ez6zk
Ай бұрын
According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
Good for them. The world should follow suit.
Nigeria, you did the good job,well done.😊😊😊
The world is on a path of unstoppable change and what once was the norm is no more. You cannot stop change!
Very necessary
Good for them both. No need to use 3rd party currency for trade.
I am glad for Africa, a people oppressed by many.
Let's GO AFRICA FREE YOUR SELF .GO GO GO ❤😅
@richardransome4943
Ай бұрын
Russia and China will own them
@elw6150
Ай бұрын
Make sure you move BACK TO AFRICA SOON!!!!!
Wow . Nigeria got it right this time . Anyone buying Nigerian oil should pay in Naira - the Bigerian currency . And its value will fly sky high
Ouch,and in brics we trust 😤💯👍
Très important surtout que le Nigéria est un producteur de pétrole et l'Inde un pays industrialisé. Selon moi le Nigéria est un future pays des BRICS. Du moins il serait intéressé. C'est le pays le plus populeux de l'Afrique.
It is nice to see the BRICS ideology is used even beyond only the members. The genie is out of the bottle.
Power shifting is good for democracy.❤❤❤
This must be done by all nations, using USD in most cases economic conditions is in the hand of USA, so they can decide up's and downs of economic security of these nation. So shun away from USD and embrace your currency so tide
@danielhutchinson6604
Ай бұрын
Hey! Look how well US Currency is working in Argentina.............Right?
@MSDGroup-ez6zk
Ай бұрын
@@danielhutchinson6604 According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
@danielhutchinson6604
Ай бұрын
@@MSDGroup-ez6zk So how much Treasury Notes support the figures for longer than a year? The Stability of Fiat Currency requires some long term support or the ability to maintain the support becomes a major concern for the Treasury. Fiat Currency needs a stable base of support as it did when Saudi and China buyers were stocking up on their stash of Treasury Paper. The Current amount of cash in a Store only is an Asset, until the local Goons come around asking for Protection Payments. Like the Mafiosa shaking down Merchants in Stores, the USA has been demanding Nations dedicate a portion of their profits to buy T-Notes. The emergence of BRICS and the benefits of Trade among their Peers, seems to have shifted support for the US Currency to a situation that appears to be self preservation.....
We need to develop our own country Not their
This one hits home.... we've come very far my African Brothers and sisters.... we've carried each other through some tough times, we cried together, we went to bed on an empty stomach together, we were looked down at in our little houses, Africa is taking a stand now...we will be free my people and hunger will be a thing of the past.
@miroperinich2495
Ай бұрын
You know there is no such thing as a free lunch.
@BTIMBIWAMINERALS
Ай бұрын
@@miroperinich2495 I know there's a thing as free yourself from colonial shackles.
I’m American and I wish brics the best and American and nato military out of all nations.
RIP USA DOLLARS
@richardransome4943
Ай бұрын
All these countries squeezed money from America for years
We love Africa ❤❤❤. Hello…From Mexico ❤❤❤
Yes ,it's necessary they don't have any rights to seize Russia's assets as it's Russian peoples money
YES!!! Wonderful update.
Great move 👍🏻👍🏻👍🏻👍🏻
This is good and exciting news put the us at the back of the queue they had there chance to something grait now we need more Africa leaders to join and my be one day Africa will become United states of africa one africa 🙏🏿👏🏿👏🏿🌍🇯🇲
Thank you very much.
Wow congrats Nigeria and India,,, i wish many countries will do the same.. esp African countries.
Yes its necessary, and its the US own fault
@richardransome4943
Ай бұрын
F .k other countries. They have taken from America long enough
Great news!
Any past colonizers doing business on the continent of Africa should mandatory pay a reparations tax spread the word
Bravo to the countries kicking the $ into touch
SO Nigeriasets a nice big nail on the petrodollar coffin. Way to go Africa.
India 🤝African Union. To a prosperous future for the Global South - may they reclaim their rich histories and natural wealth. Let us all work together for a new future
Let all African Nations do this 🇳🇦
Salute Oga
I AM FROM EASTERN EUROPE, AND I AM VERY GLAD HOW THE WORLD HAS BEEN LIBERATED AND REBORN. I CAN'T WAIT TO SEE AFRICA GET FREE AND DO A STABLE ECONOMIC TWO YEARS AFTER YOU WILL TURN INTO THE PARADISE YOU HAVE DREAMED OF. GOOD LUCK AND GO AHEAD.
@miroperinich2495
Ай бұрын
You have no idea what you're talking about. Think a little.
The world is changing especially when it's come to money transactions and businesses in general Countries now are choosing where to Invest their money
how the dollar is dominate when it's not worth anything?
@MaryGwenDungan
Ай бұрын
A number of reasons, but one is the other currencies aren't worth anything, either. The BRICS isn't a currency; it's a payment platform that the US can't shut down on whim.
@MSDGroup-ez6zk
Ай бұрын
@@MaryGwenDungan According to Peterson institute study on Dec 2023, 1. Asia held USD 5 Trillion on their USD reserve 2. Europe held USD 1 Trillion on their USD reserve 3. Middle East held USD 800 billion on their USD reserve 4. Latin America held USD 600 billion on their USD reserve 5. Africa held USD 85 billion on their USD reserve. Imagine if Asia swift its USD reserve into half to Euro. According to South China Morning post dated on 9 Feb 2024, China only held USD 700 billion on the US bonds from total USD reserve of USD 3.22 Trillion. This figure has been declined from USD 3.8 Trillion in 2014. IMF stated that the total USD reserve in the world is USD 12 Trillion.
@MaryGwenDungan
Ай бұрын
@@MSDGroup-ez6zk Countries adjust their foreign reserves around depending on needs, such as trade. As Asia and maybe the rest of the world shifts out of the USD for political reasons (which is a good idea for them), the US will have to adjust, too.
@miroperinich2495
Ай бұрын
@@MaryGwenDungan What are you really good at? Maybe in words???
@MaryGwenDungan
Ай бұрын
@@miroperinich2495 I'm good at economics and finance. I have an MBA from the Wharton School and decades of experience at multinational financial services firms.
Very informative investigatiin,fine documetary
Brilliant , local currency will see countries prosper by not paying double, 5x or sometimes 10x their currency for dollars , go world multipolar world is the way forward for many countries to prosper
@miroperinich2495
Ай бұрын
Nothing will change, I think there will be a big mess and conflicts.
I hope that the continent of Africa will depend on themselves make Africa great again one love one government one military one currency go Africa 🌍, I'm surprised by India 🇮🇳 move,cause India prime minister act like double agent to the United States 🇺🇸
@xipingpong-cg8yh
Ай бұрын
No double shit bro, if war erupts between USA and Russia i hope it won't happen hypothetically happens India will be with russia no buts and ifs given the past history western mfs sailed to bay of bengal to anhilate us but USSR stood with us no strings attached.USA:when india at war we will smash em, USA:When India rising power, you are my ally, no you are just a snake.Never trust
It's about time, Enough is Enough
The us dollar after 5 jears whil be as the african money 😅😅😅 an the india roepie😅😮😢
@user-bf7vd6mi6w
Ай бұрын
5000 years
@ShikharRawat-ft6yd
Ай бұрын
Nah Indian rupee will be better
@sandemanmaart
Ай бұрын
China whil take over
This explains why dollars are hidden In soffers in south africa.
The dollar is really killing us here in nigeria and the government really need to do something
Good decision by both parties.
Thanks for sharing
Good 👍 buzzness first and Good development 👌
yes we do , the US uses the dollar as a sanction tool .
CONGRATULATIONS INDIA AND NIGERIA FOR THIS WIN/ WIN PARTNERSHIP !!!!
Interesting!
I love seeing good news such as this.
Great news hope
LOVE BRICS ❤️
WHY CAN'T COUNTRIES US THEIR OWN MONEY?
@spiritualaligning8781
Ай бұрын
USD standardized trade items value but were to used as a weapon. So the world is developing a new system as to not be attacked by U.S.
@richrich6247
Ай бұрын
Because the US wants the world to fuel its growth
29 күн бұрын
Its called hegemony
Strengthening local currencies is a must! Why should New York banks & institutions be involved between Nigeria & India trade? Nigeria is not yet a BRICS member but that's no reason to wait to do trade like this. The BRICS system of trade exchange, as it evolves, must be ready to include non-members.
It's about time for the invisible people of the world to be seen
OTHER COUNTRIES WILL FOLLOW YOUR GREAT DECISION.
I'm glad to see the countries of Africa throw off the chains of colonialism. Thanks for covering the latest news.
World needs to move away from US dollar I support this!!
@richardransome4943
Ай бұрын
Lmao.america needs to move away from supporting these countries
@saidat98
Ай бұрын
@@richardransome4943exactly 💯%. The US should keep the support and stay away permanently.
@saidat98
Ай бұрын
@@richardransome4943the US should stay away from Africa permanently.
Awesome.
No more dollar
it will stop the weaponization of the dollars and limit it use to the benefit of trade in national currencies not submitting them to buying dollars ! Defending one’ s national currency should not constitute a threat to the USA and it is too bad if they consider it as so !
Do what you have to do, Mama AFRECA.
Good job Nigerian government i love that financial freedom is very important in Africa i wish many countries will join brick in Africa
This is a good development. This way foreign powers cannot seize asset reserves of Nigeria in times of conflict. But only one problem that arises is that now the nations have to maintain a variety of currencies to deal in. So, the best thing to do is to come up with a new BRICS currency within the BRICS zone like the EU uses Euro.
Well done ❤❤❤❤
Good it's about time America had a wake up call sick of them calling the shots it's taken long enough for other countries to release if they worked together they can even out the level playing field and put a halt to this super power nonsense so one country doesn't get to ride rough shot over another
Can we expect western hegemony to end now?
@lovestrong3582
Ай бұрын
It has already ended we are now just seeing the affects of it.
Congratulations Nigeria as long as this is followed through in its entirety.
greece, rome, britain and now usa
How dare India to stab the U.S. in the heart when it receives so much love from the most powerful nation on Earth to stay in QUAD? I bet the U.S. does not even want to sanction India because it still remains so useful to American purposes. Bravo to India!
@user-tp2tm6fy9i
Ай бұрын
Gutter oil wumao🤢🤢🤢🤢
Africa must work towards strengthening trade with countries in the global South therefore moving away from relying on US dollar.
Woe, woe!, It is just the beginning for America
That's good,
Why would anyone have confidence in the dollar????Our National debt alone would scare anyone away from he dollar..
Time to bring freedom
👏👏👏👏
All the world should only trade in their own currency when Australia moved from the pound to the dollar to parallel with the us Australia lost 25% of its monetary value with in a year and has never regained it
The UNI showing support for the BRICS Nations from the Badger Den
Well worldwide Reserve Curencies only last approx 50-75 yrs on avg and it’s time for a new #1 about now.
BRICS in trust, yes
This may be a double edged sword.
We do not give... you finish it... 😂👀👂👂✨😂
Content wise, you could have done more research on deals (fta) made by India in recent years including yearmarking funds for development in global South nations within the yearly budgets presented in Parliament of India.
BRICS .......THE FUTURE ❤❤❤
Thank god
Africa should demand Western nations to pay in gold.
We THANK God Almighty for (BRICS) Brazil, Russia, China and South Africa for EXTENDING strong helping hands to African countries!!!!! May God Almighty BLESS the leaders and people of the BRICS countries. May God Almighty GRANT the BRICS leaders the capacity, ability, knowledge, information, understanding, wisdom, discernment, strength, courage , resilience and shoulders to CARRY the other African countries and USHER the African Continent into STABILITY and PROSPERITY!!!!!!
I am from Uzbekistan . I am happy for you . May our countries also transfers to their own currency in trade
Nigeria is not a member of BRICad
Nigeria should not trust India. Be careful, Nigeria, be smart,and strategic
@xipingpong-cg8yh
Ай бұрын
Yes trust snakes from west countries so that they can be parasites and can live of off wars also sanction when they dont like you, Unlike us what we do share our technology, food and many more. USA: When India at war we will demolish you USA: India rising power we wanna be ally.