US Report Vindicates Atiku on Tinubu Government's Fiscal Transparency Concerns

A recent United States Department of State report has cast a shadow over Nigeria's fiscal transparency, according to the media office of African Democratic Congress (ADC) presidential candidate Atiku Abubakar. The report highlights significant concerns regarding the current administration's budgetary and fiscal disclosure practices.

Paul Ibe, Abubakar's media aide, cited the U.S. report's findings, which criticized the Federal Government for delays and a lack of comprehensiveness in reporting its revenues and expenditures. The assessment also noted discrepancies between the approved budget and actual financial activities during its implementation. This lack of transparency, the report suggests, fails to provide a substantially complete picture of government finances.

Abubakar, a former Vice President, has consistently accused President Bola Tinubu's administration of falling short of acceptable standards for fiscal transparency and accountability. He stated that the U.S. report "confirms what we have been saying: that Nigerians deserve to know where every kobo is coming from and where it is being spent."

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This report confirms what we have been saying: that Nigerians deserve to know where every kobo is coming from and where it is being spent. They are our resources and not the resources of President Bola Tinubu and his family and friends.

The U.S. report further indicated that while the enacted budget and end-of-year reports were publicly accessible, the executive budget proposal was not published in a timely manner. Additionally, it observed that actual revenues and expenditures did not align with the enacted budget figures. The report also raised issues with the independence and reporting of the Office of the Auditor-General, stating it did not meet international standards.

According to the assessment, the Nigerian government did not meet minimum fiscal transparency requirements during the period under review. Abubakar emphasized that transparency is crucial for attracting investment, combating corruption, and restoring public confidence, stating, "Transparency is not a slogan. It is the foundation of good governance."

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Transparency is not a slogan. It is the foundation of good governance.