Nigeria has failed to meet the minimum fiscal transparency requirements established by the United States government for the second consecutive year, according to a formal assessment released by the US Department of State.
The evaluation highlights ongoing structural deficiencies in how public funds are managed, monitored, and disclosed across federal institutions.​The federal report concluded that the Nigerian government made no significant progress in opening its public finances or enhancing administrative financial systems throughout the 2025 fiscal cycle.
While basic budget proposals were made public, critical gaps persisted regarding complete revenue disclosures, budget execution timelines, and the auditing of state-owned enterprises.
​To satisfy global transparency benchmarks, host governments are required to publish substantially complete and reliable budget documentation within reasonable timeframes.
The US Department of State noted that off-budget financial allocations and delays in releasing audited financial statements continue to undermine public oversight and institutional accountability in the country.​
Economic analysts and civil society groups warned that failing the transparency test for a second year risks eroding international investor confidence and complicating bilateral development partnerships.
The finding arrives amidst heightened scrutiny from domestic stakeholders demanding stricter oversight over public debt, revenue collection, and government expenditure.
​In light of the findings, financial experts have called on federal authorities to accelerate public accounting reforms, digitise procurement systems, and ensure timely publication of independent audit reports. The Federal Ministry of Finance is expected to implement corrective measures to address these structural deficits ahead of the next international review cycle.
