US Critiques Nigeria's Fiscal Transparency in 2026 Report

The United States Government has criticized Nigeria's fiscal transparency record, stating that the Federal Government has not provided sufficient information for public understanding of revenue generation and public fund expenditure. This criticism was detailed in the 2026 Fiscal Transparency Report released by the US Department of State on Tuesday.

While the report acknowledged that Nigeria had made some fiscal information available, it pointed out that the documents did not offer a complete view of the country’s finances. Key concerns included discrepancies between approved budgets and actual revenues and expenditures, as well as a lack of accessible information on public procurement contracts.

The report also assessed Nigeria's audit system, stating that the supreme audit institution did not meet international standards for independence and failed to publish substantive reports. Despite these criticisms, the US noted that Nigeria had made progress in making debt obligations public and had established a legal framework for natural resource contracting.

The report recommended that the Federal Government enhance public access to its executive budget proposal.