BudgIT, a civic-tech organisation promoting transparency and accountability in Nigeria’s public finance, has urged the Federal Government not to dismiss the United States Department of State’s 2026 Fiscal Transparency Report, which scored Nigeria low for the second consecutive year.

The organisation made the call in a statement by its Country Director, Mr. Vahyala Kwaga, yesterday, urging the government to address gaps in budget execution, audit reporting and public procurement disclosures.

The U.S. report said Nigeria failed the fiscal transparency test for the second consecutive year, citing vague budget documents and limited public access to contract details. It, however, acknowledged the government’s disclosure of public debt information and the sound legal framework governing the Sovereign Wealth Fund.

BudgIT said the findings should be taken seriously, particularly regarding budget implementation reporting.

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

“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,” it said.

The organisation noted that Nigeria adopted the International Public Sector Accounting Standards (IPSAS) in 2016, saying the principles of transparency and accountability should be reflected in the quality, timeliness and completeness of fiscal reports.

The assessment, which reviewed Nigeria’s fiscal transparency practices between January 1 and December 31, 2025, placed the country among 67 of the 140 governments and entities assessed that failed to meet minimum requirements.

BudgIT said although the report was not a comprehensive assessment of all public financial management reforms in Nigeria, its findings “should not be dismissed.”

It said the report reinforced concerns over the credibility of budget implementation reports, the independence and effectiveness of the country’s audit institution and access to public procurement information. (Vanguard)

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