US Report: Nigeria Fails Fiscal Transparency Standards for Second Consecutive Year

Nigeria failed the United States Department of State’s minimum fiscal transparency requirements for the second consecutive year, according to its 2026 Fiscal Transparency Report covering 2025. The report said Nigeria’s budget documents did not provide a sufficiently complete account of government revenue and spending. It also found that actual revenue and expenditure figures did not reasonably match the enacted budget. Although Nigeria published its enacted budget and year-end figures, the report noted that the executive budget proposal was not released early enough for meaningful public scrutiny before legislative approval. It also raised concerns over the publication of audit reports, the independence of the Auditor-General’s office, and limited disclosure of public contracts and natural-resource licences. The Presidency said transparency, accountability and sound public financial management remain priorities. The report warned that stronger fiscal openness is needed to improve public accountability, investor confidence and economic stability.

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