FG Knocks US Fiscal Transparency Report, Says Nigeria Making Steady Progress

The Federal Government has rejected a report by the United States Department of State alleging that Nigeria fell short of international fiscal transparency standards, insisting that the assessment does not present a complete picture of the country’s ongoing public finance reforms.

The US report, released on Tuesday, listed Nigeria among 32 African countries that failed to meet minimum fiscal transparency requirements, citing shortcomings in the public disclosure of budget information, government contracts, and natural resource licences.

Responding on Thursday, the Special Adviser to the President on Media and Public Communication, Sunday Dare, urged Nigerians to disregard the impression that the report represented a comprehensive assessment of Nigeria’s fiscal governance.

According to him, the report was limited to the US Department of State’s minimum fiscal transparency benchmarks and should not be interpreted as an overall evaluation of the Federal Government’s public financial management reforms.

“The report by the U.S. Department of State on fiscal transparency is noted. Fiscal transparency, accountability, and effective public financial management remain important priorities of the Federal Government, and Nigeria continues to implement reforms aimed at strengthening the management, reporting, and disclosure of public resources,” Dare said.

He noted that the report itself acknowledged Nigeria’s progress in making budget documents and debt obligations publicly available, arguing that this recognition reflected the government’s commitment to greater openness.

Dare explained that the issues highlighted in the report, particularly those relating to procurement disclosure, budget execution reporting, and audit processes, were already receiving attention under the Tinubu administration’s reform programme.

He said the Federal Government was strengthening digital procurement systems and other institutional mechanisms to improve the accessibility, reliability, and timeliness of public financial information.

According to him, Nigeria has introduced several initiatives to promote fiscal transparency, including the Open Treasury platform, public budget documentation, debt disclosures, and reforms to the public procurement system.

He maintained that rather than dismissing the report outright or treating it as a definitive verdict on Nigeria’s fiscal governance, it should be viewed as an external benchmark that could help guide and strengthen ongoing reforms.

The presidential aide reaffirmed the Federal Government’s commitment to improving fiscal reporting, strengthening audit institutions, expanding public access to procurement information, and ensuring greater transparency in the management of public resources.

He said the administration remained focused on building a more transparent, accountable, and credible fiscal system capable of strengthening public confidence, attracting investment, and ensuring that national resources are managed efficiently and in the country’s best interest.