Don’t dismiss US 2026 Fiscal Transparency Report, BudgIT tells FG

Nigeria's Federal Government has been urged by BudgIT, a civic-tech organization focused on public finance transparency, not to disregard the United States Department of State's 2026 Fiscal Transparency Report. This report marks the second consecutive year Nigeria has received a low score.

The U.S. report identified vague budget documents and restricted public access to contract details as key deficiencies contributing to Nigeria's performance. However, it did acknowledge the government's efforts in disclosing public debt information and the robust legal framework governing the Sovereign Wealth Fund.

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BudgIT is particularly concerned that, while the Federal Government has continued to publish budget documents, the reporting of actual budget implementation remains inadequate.

BudgIT emphasized that the report's findings, particularly concerning budget implementation reporting, should be taken seriously. "While the Federal Government has continued to publish budget documents, the reporting of actual budget implementation remains inadequate," the organization stated. They highlighted that publishing approved budget figures is less critical than providing timely and comprehensive data on actual revenue collection and expenditure.

The assessment, which covered fiscal transparency practices from January 1 to December 31, 2025, placed Nigeria among 67 governments that failed to meet minimum requirements. BudgIT noted that while the report isn't an exhaustive review of all public financial management reforms, its conclusions reinforce existing concerns about the credibility of budget implementation reports, the effectiveness of audit institutions, and access to public procurement information in Nigeria.

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It is relatively easy to announce approved budget figures, but it is considerably more important to provide timely and consolidated information on actual revenue collection and expenditure.