Former Minister of Youth and Sports Development and Special Adviser to the President on Media and Publicity, Sunday Dare, CON, has responded to the U.S. Department of State report on Nigeria’s fiscal transparency, saying the findings should be properly contextualised.

Dare said the report assesses Nigeria against specific U.S. fiscal-transparency requirements and should not be viewed as a comprehensive assessment of the country’s broader public financial management reforms.

Sunday Dare, CON, said:
“The report by the U.S. Department of State on fiscal transparency is noted. Fiscal transparency, accountability and effective public financial management remain important priorities of the Federal Government, and Nigeria continues to implement reforms aimed at strengthening the management, reporting and disclosure of public resources.

It is important, however, to properly contextualize the findings. The U.S. Fiscal Transparency Report is a specific assessment against the Department of State’s minimum fiscal-transparency requirements, particularly the public disclosure of national budget information, government contracts and natural-resource licenses. It should therefore not be interpreted as a comprehensive assessment of all fiscal and public financial management reforms currently underway in Nigeria.

Indeed, the report itself recognizes progress by Nigeria in making budget documents and debt obligations publicly available. The issues identified, particularly around procurement disclosure, budget-execution reporting and audit processes, are areas that the government takes seriously and where ongoing institutional reforms are intended to produce further improvements.

Nigeria has established a number of mechanisms to promote fiscal transparency, including the Open Treasury initiative, public budget documentation, debt disclosures and reforms to public procurement. The government is also strengthening digital procurement and other systems designed to improve the accessibility, reliability and timeliness of public financial information.

The appropriate response, therefore, is neither to dismiss the findings nor to portray them as a complete characterization of Nigeria’s fiscal governance. Rather, the report provides an external benchmark against which existing reforms can be further strengthened.

The Federal Government remains committed to improving the quality and timeliness of fiscal reporting, strengthening audit institutions, expanding access to procurement information and ensuring that citizens, investors and other stakeholders have greater visibility into the management and utilization of public resources.

The objective is ultimately the same: a more transparent, accountable and credible fiscal system that strengthens public confidence, supports investment and ensures that public resources are managed efficiently and in the national interest.”

Dare’s response comes amid continued scrutiny of Nigeria’s fiscal transparency, with the former minister stressing that the government remains committed to addressing identified gaps while advancing broader reforms in public financial management.