The Federal Government has described the latest U.S. Fiscal Transparency Report as an external benchmark that can help strengthen Nigeria’s ongoing public financial management reforms.

Presidential Special Adviser on Media and Public Communications, Sunday Dare said the government acknowledged the report’s concerns but stressed that it should not be viewed as a complete assessment of Nigeria’s fiscal governance.

Nigeria failed to meet the U.S. Department of State’s minimum fiscal transparency requirements for the second consecutive year. The 2026 report assessed 139 governments and the Palestinian Authority, with 73 meeting the minimum standards. Nigeria was among 53 governments judged to have made no significant progress.

Dare said the report focused mainly on the disclosure of national budget information, government contracts and natural-resource licences, while acknowledging that Nigeria had made progress in making budget documents and debt obligations publicly available.

He, however, admitted that concerns over procurement disclosure, budget-execution reporting and audit processes remained areas requiring further improvement.

The Presidency highlighted initiatives including the Open Treasury, public budget documentation, debt disclosures, public procurement reforms and digital procurement systems as measures being implemented to improve fiscal transparency.

Dare said the government would use the report constructively to strengthen existing reforms, improve the quality and timeliness of fiscal reporting, reinforce audit institutions and expand public access to procurement information.

He reaffirmed the Tinubu administration’s commitment to building a more transparent, accountable and credible fiscal system that promotes public confidence, supports investment and ensures that public resources are managed efficiently and in the national interest.