The Federal Government has responded to a fresh report by the United States Department of State that faulted Nigeria’s fiscal transparency, saying it will use the assessment as an external benchmark to strengthen ongoing reforms in public financial management.
The Special Adviser to President Bola Tinubu on Media and Public Communications, Sunday Dare, made this known in a statement on Thursday, reacting to the report which measured Nigeria against the US Department of State’s minimum fiscal transparency requirements.
Nigeria failed the minimum fiscal transparency requirements for the second year running, with the US State Department noting that the country recorded no significant progress in improving its financial management and opening up its public finances in 2025.
In its 2026 Fiscal Transparency Report released on Tuesday, the department evaluated 139 governments alongside the Palestinian Authority. Only 73 met the minimum standards, while 67 fell short. Of those that did not meet the benchmark, 14 showed significant improvement, but 53 countries, Nigeria included, were classified as having made no progress at all.
Responding, Dare said the government took note of the findings but insisted they should be properly contextualised, noting that the report should not be treated as a full assessment of Nigeria’s fiscal governance.
He explained that the report focused mainly on how publicly accessible national budget information, government contracts and natural-resource licences were, adding that it should not be seen as a complete evaluation of all the fiscal and financial management reforms currently being implemented in the country.
According to him, the report itself acknowledged the strides Nigeria had made in making budget documents and debt obligations available to the public.
He said, however, that government was not turning a blind eye to the concerns raised around procurement disclosure, budget-execution reporting and audit processes, describing these as areas the administration takes seriously and is actively working to improve through institutional reforms.
Government Lists Transparency Measures
Dare pointed to several existing mechanisms aimed at deepening fiscal transparency, including the Open Treasury initiative, public budget documentation, debt disclosures and ongoing reforms in public procurement.
He added that the government was equally strengthening its digital procurement systems and other platforms to make public financial information more accessible, reliable and timely.
He stated that the appropriate response was neither to dismiss the report’s findings nor to present them as a full picture of Nigeria’s fiscal governance, but to treat the report as an external yardstick for deepening existing reforms.
Dare reaffirmed that the Tinubu administration remained committed to improving the quality and timeliness of fiscal reporting, strengthening audit institutions, and widening access to procurement information.
He said government would continue working to give citizens, investors and other stakeholders greater visibility into how public resources are managed and utilised, stressing that the ultimate goal was a fiscal system that is transparent, accountable and credible — one that boosts public confidence, supports investment, and ensures public resources are managed efficiently in the national interest.
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