Nigeria has failed to meet the United States government’s minimum fiscal transparency requirements for 2025, according to the latest US Department of State assessment.
The finding was contained in the 2026 Fiscal Transparency Report, which reviewed the financial transparency practices of 138 governments, the Palestinian Authority and Nigeria during the period from January 1 to December 31, 2025.
Nigeria was among 67 governments that did not meet the minimum requirements. The report also placed the country among those that made “no significant progress” towards addressing previously identified shortcomings.
What the US assessment looks at
The US fiscal transparency review examines whether governments provide the public with important information about how public money is raised, spent and managed.
This includes access to budget documents, government debt obligations, audit reports, natural resource contracts and public procurement information.
The US Department of State described fiscal transparency as important to effective public financial management, economic sustainability and public accountability.
“Fiscal transparency is a critical element of effective public financial management, helps build market confidence, and underpins economic sustainability.”
The assessment also looks at whether budget documents provide a substantially complete picture of planned government revenue and expenditure, including revenue from natural resources and the financial activities of state-owned enterprises.
Debt and natural resources also under scrutiny
The report said governments are expected to make information on their debt obligations publicly available, including debts connected to major state-owned enterprises.
For countries with significant natural resource industries, the assessment also considers whether the rules and procedures for awarding extraction licences and contracts are publicly available and established by law or regulation.
The US further said basic details of natural resource concessions and contracts should be made public after they are awarded.
The 2026 assessment also introduced stronger requirements around the disclosure of sovereign loans to foreign borrowers, including their terms, liabilities and collateralised assets.
Failure does not automatically mean corruption
The US Department of State, however, cautioned against interpreting the assessment as a ranking of corruption among countries.
It stressed that a government failing to meet the minimum fiscal transparency requirements does not necessarily mean that significant corruption exists within that government.
Similarly, meeting the requirements does not automatically indicate a low level of corruption.
Of the 140 governments assessed, including the Palestinian Authority, 73 met the minimum fiscal transparency requirements, while 67 did not. Fourteen of the governments that initially failed were nevertheless assessed as having made significant progress.
For Nigeria, the report’s classification highlights continuing concerns around public access to government financial information and the transparency of public financial management.
Improving transparency could strengthen public accountability, investor confidence and the ability of citizens to scrutinise how government revenue and resources are managed.
Source: 2026 Fiscal Transparency Report, U.S. Department of State.
