NIGERIA — The Nigerian government is not demonstrating substantial progress in fiscal transparency, according to the U.S. Department of State’s 2026 Fiscal Transparency Report. The report, released on Tuesday, stated that Nigeria’s budget documents lack sufficient information regarding the nation’s revenues and expenditures, and do not adequately detail spending by executive offices.

While Nigeria did make some key fiscal documents accessible to the public, the report found these did not offer a comprehensive view of government finances. Concerns were also raised about inconsistencies between Nigeria’s approved budget and its actual financial implementation. The country’s supreme audit institution was criticized for not meeting international standards of independence and for failing to publish substantive reports, despite having access to the full executed budget.

The U.S. government highlighted ongoing transparency challenges in public procurement, particularly concerning access to information on government contracts. "Actual revenues and expenditures did not reasonably correspond to those in the enacted budget. The government did not publish accessible information on public procurement contracts," the report stated.

However, the report did acknowledge certain areas of advancement. Nigeria has made information on its debt obligations, including significant debts of state-owned enterprises, publicly available. The country’s sovereign wealth fund was noted for having a sound legal framework and for disclosing information about its funding and general withdrawal policies.

Furthermore, the report indicated that the Nigerian government has established legal criteria and procedures for awarding contracts and licenses for natural resource extraction, and has adhered to existing regulations in practice.

To enhance fiscal transparency, the U.S. government recommended that Nigeria make its executive budget proposal widely and easily accessible to the public, including through online platforms.