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.
Join this channel to get access to perks:
/ @weloveafrica
We are Changing the narratives Of Mother Africa through KZbin Videos..One Video at a Time...
It's Time For Africans To Tell Their Own Story!
__________________________________________________________________
Remember to subscribe, and ring the notification bell, so that you do not miss any of our videos.
Email us for News Tips, content submission, ads partnership, collabos, sponsorship or content issues
All our videos are aimed at Educating, Informing, Reporting, Reviewing, Criticizing & Ranking everything African.
Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, teaching, scholarship, and research.

[@lovestrong3582]

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]

Remember nagiria is not a member of bricks, bricks were not allowed them to join bricks.

[@justicequaye8085]

Mahama will take Ghana 🇬🇭 there when he comes to power.. I am sure of that …

[@lovestrong3582]

@@user-eg6xu3rs5t It still looks like they don't want America to control them anymore.

[@WilyLanet]

🙏

[@binwoods23]

Amen

[@KaeMaiden]

Well done Nigeria. Well done India. Hoping to see Ghana and Kenya at the dedollarization table soon.

[@Kenol881]

India do nothing against dollar till india becom8+ trillion dollar economy, it takes around 10 yrs atleast.

[@Trilok_world]

​​@@Kenol881nope India is already 4+ trillions usd Economy in nominal, it will reach 8 to 10 trillions usd in or before 2030.

[@IXXILordFibonacciIXXI]

India ❤ Africa! Lets goo Global South!

[@jrkr7357]

I disagree as India is US's tool to counter China

[@lightbeings6243]

Good..but regime chanfe ll be on way.

[@yuppy178]

Africa? It’s Nigeria… Africa is a continent 😒

[@MSDGroup-ez6zk]

@@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]

​@@yuppy178 story has just begun 😊

[@fabiobrondi8199]

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]

Israel runs the US

[@jamesbroughton4706]

i agree

[@jogana6909]

When US keeps printing money, it's hard to make people believe in your currency system.

[@MSDGroup-ez6zk]

@@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]

So South China post is your source of news 🤪

[@JWFitness1]

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]

exactly

[@user-kb7ic2pi6x]

❤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]

Well done 👏 BRAVE .

[@binwoods23]

Amen

[@richardransome4943]

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]

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]

@@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.

[@deonlubbe6127]

Absolutely necessary

[@Vixxy_88]

If this is true, it's a great news

[@larrygii2448]

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]

If corruption ends ,Nigeria will be a superpower in Africa in 5 years.

[@devinrobinsonx4442]

Heard that IF….ain’t happening

[@georgeilawagbon9255]

Exactly, that's why they are fighting so hard against nigeria with those corrupt politifcians

[@ntokozolugogo4762]

Y'all think Nigeria is the only African country with natural resources and corruption

[@MSDGroup-ez6zk]

@@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.

[@user-xh4dp6ij4r]

No more dollar ❤❤❤❤❤❤

[@GrandSolarEclipse]

Indeed, the mark of the beast is being removed

[@512Berlinetta]

De-dollarization is good for the world 👍

[@MSDGroup-ez6zk]

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.

[@barefoot6745]

Good for them. The world should follow suit.

[@user-ts5we1dd1m]

The world is on a path of unstoppable change and what once was the norm is no more. You cannot stop change!

[@user-nc8zv9cf8u]

Nigeria, you did the good job,well done.😊😊😊

[@martinsloman9364]

Very necessary

[@charlesparker4481]

I am glad for Africa, a people oppressed by many.

[@davidlee9493]

Good for them both. No need to use 3rd party currency for trade.

[@wjanse299]

Let's GO AFRICA FREE YOUR SELF .GO GO GO ❤😅

[@richardransome4943]

Russia and China will own them

[@elw6150]

Make sure you move BACK TO AFRICA SOON!!!!!

[@thomastumasang2770]

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

[@robertmoniez4031]

It is nice to see the BRICS ideology is used even beyond only the members. The genie is out of the bottle.

[@luclasnier7147]

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.

[@BarkQaziBiddutNYUSA]

Power shifting is good for democracy.❤❤❤

[@dennismiller5235]

We need to develop our own country Not their

[@yaz4yak]

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]

Hey! Look how well US Currency is working in Argentina.............Right?

[@MSDGroup-ez6zk]

@@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]

@@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.....

[@BTIMBIWAMINERALS]

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]

You know there is no such thing as a free lunch.

[@BTIMBIWAMINERALS]

@@miroperinich2495 I know there's a thing as free yourself from colonial shackles.

[@TheBlackSands]

Ouch,and in brics we trust 😤💯👍

[@mauriziogagliano6662]

RIP USA DOLLARS

[@richardransome4943]

All these countries squeezed money from America for years

[@jenningscunningham642]

I’m American and I wish brics the best and American and nato military out of all nations.

[@vkpkck]

Yes ,it's necessary they don't have any rights to seize Russia's assets as it's Russian peoples money

[@delir.6488]

We love Africa ❤❤❤. Hello…From Mexico ❤❤❤

[@howardmoss7522]

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 🙏🏿👏🏿👏🏿🌍🇯🇲

[@eman67rp]

Yes its necessary, and its the US own fault

[@richardransome4943]

F .k other countries. They have taken from America long enough

[@ParveenKhan-qo6nv]

Great move 👍🏻👍🏻👍🏻👍🏻

[@katemashika]

Wow congrats Nigeria and India,,, i wish many countries will do the same.. esp African countries.

[@JamesWhite-cr5ys]

Thank you very much.

[@priscillaferguson267]

YES!!! Wonderful update.

[@MujahidAbdulQawwi]

how the dollar is dominate when it's not worth anything?

[@MaryGwenDungan]

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]

@@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]

@@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]

@@MaryGwenDungan What are you really good at? Maybe in words???

[@MaryGwenDungan]

@@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.

[@kurianify]

Great news!

[@SelbyHlayi-ws5pk]

Salute Oga

[@77vavavoom]

SO Nigeriasets a nice big nail on the petrodollar coffin. Way to go Africa.

[@giantputt7066]

Bravo to the countries kicking the $ into touch

[@tonycoleman6459]

Any past colonizers doing business on the continent of Africa should mandatory pay a reparations tax spread the word

[@SuperTribal99]

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

[@tmtools]

Let all African Nations do this 🇳🇦

[@nikolaysapunov8883]

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]

You have no idea what you're talking about. Think a little.

[@kalthoemajattiem1432]

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]

Nothing will change, I think there will be a big mess and conflicts.

[@taooflifekenpo]

yes we do , the US uses the dollar as a sanction tool .

[@SKumar-mj6gf]

Can we expect western hegemony to end now?

[@lovestrong3582]

It has already ended we are now just seeing the affects of it.

[@muhammadomar2954]

No more dollar

[@inuwabajoga4376]

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

[@DvdMan-re8ql]

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]

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

[@Gabriel-qp5tn]

This explains why dollars are hidden In soffers in south africa.

[@johngray491]

WHY CAN'T COUNTRIES US THEIR OWN MONEY?

[@spiritualaligning8781]

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]

Because the US wants the world to fuel its growth

Its called hegemony

[@sandemanmaart]

The us dollar after 5 jears whil be as the african money 😅😅😅 an the india roepie😅😮😢

[@user-bf7vd6mi6w]

5000 years

[@ShikharRawat-ft6yd]

Nah Indian rupee will be better

[@sandemanmaart]

China whil take over

[@Sam-jd3sz]

It's about time, Enough is Enough

[@ehisabdul2178]

The dollar is really killing us here in nigeria and the government really need to do something

[@user-hd7cz5bv2j]

Very informative investigatiin,fine documetary

[@jacquelinemorgan2086]

Good decision by both parties.

[@WillieClark-bw1bx]

It's about time for the invisible people of the world to be seen

[@FindingDurham]

I'm glad to see the countries of Africa throw off the chains of colonialism. Thanks for covering the latest news.

[@corneliusperezcotapos2800]

CONGRATULATIONS INDIA AND NIGERIA FOR THIS WIN/ WIN PARTNERSHIP !!!!

[@GregoryBamber]

I love seeing good news such as this.

[@zdravkojasovic9397]

LOVE BRICS ❤️

[@corneliusperezcotapos2800]

OTHER COUNTRIES WILL FOLLOW YOUR GREAT DECISION.

[@bertanelson8062]

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.

[@sundayejeh7050]

Good job Nigerian government i love that financial freedom is very important in Africa i wish many countries will join brick in Africa

[@coolwalk6022]

World needs to move away from US dollar I support this!!

[@richardransome4943]

Lmao.america needs to move away from supporting these countries

[@saidat98]

​@@richardransome4943exactly 💯%. The US should keep the support and stay away permanently.

[@saidat98]

​@@richardransome4943the US should stay away from Africa permanently.

[@annieavila4378]

Interesting!

[@user-pn6xd1tp4c]

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 !

[@alvinpleasant2510]

Thanks for sharing

[@carolwatney9206]

Great news hope

[@ravindersinghparmar6629]

Good 👍 buzzness first and Good development 👌

[@SmilingLifeJacket-ny9ih]

Awesome.

[@crublah]

greece, rome, britain and now usa

[@BTIMBIWAMINERALS]

Africa must work towards strengthening trade with countries in the global South therefore moving away from relying on US dollar.

[@jomartin8606]

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

[@robertneil4559]

Why would anyone have confidence in the dollar????Our National debt alone would scare anyone away from he dollar..

[@existentoneness]

Congratulations Nigeria as long as this is followed through in its entirety.

[@unirtvpodcouch2700]

The UNI showing support for the BRICS Nations from the Badger Den

[@IsraelCelestine]

Do what you have to do, Mama AFRECA.

[@46magno]

👏👏👏👏

[@user-qx9bt9tr6t]

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.

[@blackj551]

Time to bring freedom

[@brianshields7137]

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

[@dmc3202]

Woe, woe!, It is just the beginning for America

[@MontChevalier]

This may be a double edged sword.

[@donnahall-kumar333]

We do not give... you finish it... 😂👀👂👂✨😂

[@davidmmm8]

Well worldwide Reserve Curencies only last approx 50-75 yrs on avg and it’s time for a new #1 about now.

[@RJMOVIE-uh3ji]

That's good,

[@AjayKumar-rt1qv]

Well done ❤❤❤❤

[@bahidjamajiet5581]

BRICS .......THE FUTURE ❤❤❤

[@dibookoli2672]

Nigeria is not a member of BRICad

[@jackchiu7560]

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]

Gutter oil wumao🤢🤢🤢🤢

[@LincolnHarper]

BRICS in trust, yes

[@phoebusapollo4677]

Africa should demand Western nations to pay in gold.

[@dominadordarang3228]

DAPAT IISA ANG CURRENCIES D2 S ATING MUNDO . PRA PATAS ANG ECCONOMIYA

[@mitchellhall4592]

Thank god

[@christeenfrancis9449]

Nigeria should not trust India. Be careful, Nigeria, be smart,and strategic

[@xipingpong-cg8yh]

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.

[@rashidbagewadi1006]

India is great never afraid to America . Jai bharat.

[@user-io9nw5zd2j]

A step in the right direction 😂