BRICS New Delhi Declaration backs peace, multilateral trade, Nigeria supports WTO
The BRICS bloc adopted the New Delhi Declaration 2026 at its 18th summit in New Delhi, India, on Saturday. The declaration, unanimously approved by Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, the UAE and partner countries including Nigeria, calls for conflict prevention, stronger multilateral ties, condemnation of terrorism and unilateral trade measures, and voices deep concern over the seven‑month‑long war in the Middle East, urging maximum restraint, dialogue and diplomacy.
It stresses the protection of civilians and civilian infrastructure, opposes actions that could threaten nuclear safety, and advocates settling disputes through diplomatic means rather than military escalation. BRICS also criticises growing unilateral tariffs and non‑tariff barriers, calling for their elimination as they distort trade and hurt developing economies. The bloc backs cross‑border payments using local currencies and proposes a BRICS Payment Task Force to reduce reliance on existing international payment systems.
For Nigeria, Vice President Kashim Shettima, meeting WTO Director‑General Ngozi Okonjo‑Iweala, reaffirmed the country’s commitment to the WTO and the multilateral trading system, noting that migration drives innovation. He is expected to outline Nigeria’s partnership and foreign investment opportunities to BRICS leaders on Sunday. This positions Nigeria to gain from expanded trade, investment and influence within the bloc. How might these BRICS initiatives—like local‑currency trade and the payment task force—create new opportunities for Nigerian businesses or affect your access to global markets?