BudgIT Urges FG to Act After Nigeria Fails US Fiscal Transparency Test Again

Nigeria’s poor performance in the United States’ 2026 Fiscal Transparency Report should serve as a warning to the Federal Government, civic-tech organisation BudgIT has said, calling for urgent reforms in budget reporting, auditing and public procurement.

BudgIT’s Country Director, Vahyala Kwaga, said the government should not dismiss the report, which assessed Nigeria’s fiscal transparency practices for the second consecutive year and identified gaps in access to public financial information.

The US assessment, covering the period from January 1 to December 31, 2025, found Nigeria among 67 of the 140 governments and entities reviewed that failed to meet minimum fiscal transparency requirements. The report pointed to vague budget documents and limited public access to contract information, although it recognised Nigeria’s disclosure of public debt data and the legal framework supporting the Sovereign Wealth Fund.

BudgIT said one of its main concerns was the quality of information available on actual budget implementation. The organisation argued that publishing approved spending plans was not enough without clear and timely records showing how much revenue was collected and how public funds were actually spent.

“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,” BudgIT said.

The organisation also linked the issue to Nigeria’s adoption of the International Public Sector Accounting Standards (IPSAS) in 2016, saying the principles of transparency and accountability should be reflected in fiscal reports that are complete, timely and easy for citizens to assess.

BudgIT stressed that the US report did not provide a complete assessment of Nigeria’s wider public financial management reforms, but said its findings should still be taken seriously. It identified concerns around the credibility of budget implementation reports, the independence and effectiveness of the country’s audit institution and public access to procurement information.

The group urged the Federal Government to use the findings to strengthen fiscal reporting and disclosure rather than dismiss the assessment. It said better access to information on government revenue, spending, contracts and audits would improve accountability and allow Nigerians to better track how public resources are being managed.