US Report Finds Nigeria Failed Fiscal Transparency Requirements

The United States Department of State released its 2026 Fiscal Transparency Report on August 12, 2026, finding that Nigeria failed to meet minimum fiscal transparency requirements for the second consecutive year. The report, which assessed 139 governments, concluded that Nigeria made no significant progress in improving public financial management during 2025 and noted a deterioration from the previous year's assessment.

U.S. officials criticized the administration of President Bola Ahmed Tinubu for failing to publish executive budget proposals in a reasonable timeframe and providing budget documents that lacked detailed breakdowns of revenues and expenditures. The report also condemned the Office of the Auditor-General for the Federation for failing to meet international independence standards or publish substantive reports. Additionally, the U.S. highlighted a lack of accessible information regarding public procurement contracts.

While the U.S. acknowledged progress in disclosing debt obligations and the legal framework of the sovereign wealth fund, the findings drew sharp reactions. Former Vice President Atiku Abubakar stated the report vindicates his claims that the administration has kept citizens in the dark. Conversely, Sunday Dare, Special Adviser to the President on Media and Public Communication, defended the government's reforms and highlighted the Open Treasury initiative. Vahyala Kwaga of BudgIT supported the U.S. findings, specifically citing a lack of clarity regarding budget implementation.