The media office of African Democratic Congress presidential candidate Atiku Abubakar says a recent United States Department of State report has reinforced the former Vice President’s long-standing criticism of the Federal Government’s fiscal transparency practices.
Atiku’s media aide, Paul Ibe, drew attention to the report in a post on X on Thursday, arguing that its findings supported concerns previously raised by the ADC candidate about accountability and the disclosure of public finances under President Bola Tinubu’s administration.
The US assessment faulted the Nigerian government over gaps in the disclosure of information relating to revenues and expenditures. While acknowledging that the enacted budget and end-of-year reports were made publicly available, including online, the report said the government did not publish its executive budget proposal within a reasonable timeframe.
It also raised questions about the completeness of the information contained in Nigeria’s budget documents, noting that they did not provide a substantially comprehensive picture of government revenues and spending. The documents were also said to lack adequate details on expenditures supporting executive offices.
Another concern identified in the report was the difference between figures contained in the approved budget and the government’s actual revenues and expenditures during implementation. According to the assessment, the actual financial outcomes did not reasonably correspond with the projections and allocations contained in the enacted budget.
The report also examined the operations of the Office of the Auditor-General, stating that it did not meet international standards of independence and had not published substantive reports.
Based on its findings, the US Department of State concluded that Nigeria did not meet the minimum requirements for fiscal transparency during the period under review, particularly in providing timely, detailed and accessible information on public revenues and expenditures.
Reacting to the report, Atiku said the findings confirmed warnings he had repeatedly issued about the management of public resources.
“This report confirms what we have been saying: that Nigerians deserve to know where every kobo is coming from and where it is being spent,” he said.
The former Vice President argued that transparency was essential to good governance and said weak fiscal disclosure could damage public confidence, hinder efforts to tackle corruption and affect Nigeria’s ability to attract investment.
He also stressed that investors, donor agencies and international credit rating institutions consider fiscal transparency when assessing countries.
Atiku maintained that detailed disclosure of government income from oil, taxation and borrowing, alongside clear expenditure records, had become increasingly important amid Nigeria’s rising debt and inflation.
His media office said he would continue to advocate greater accountability and openness in the management of the country’s public resources.
