US fiscal transparency report: We are strengthening procurement, audit processes — Presidency

By Precious Mark

The Nigerian Presidency has revealed that it is embarking on reforms of the country’s procurement and audit processes.

The Federal Government made this known in response to to the recent fiscal transparency report released by the United States Department of State.

Reacting on Thursday, the Special Adviser to the President on Public Communication and Media, Sunday Dare, stated that Nigeria continues to implement comprehensive reforms aimed at strengthening the management and reporting of public resources.

Dare noted that while the US report evaluated specific minimum transparency requirements regarding national budget disclosures, government contracts, and natural resource licenses, it should not be viewed as a complete assessment of all fiscal reforms taking place in the country.

He pointed out that the US Department of State acknowledged progress made by Nigeria in making debt obligations and budget documents publicly available, adding that areas needing improvement such as procurement disclosure and audit processes are receiving serious institutional attention.

“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,” Dare said.

Highlighting existing mechanisms designed to boost public trust, Dare cited ongoing initiatives such as the Open Treasury portal, regular debt disclosures, public budget documentation, and the expansion of digital procurement systems.

He emphasized that the administration views the US assessment as a constructive external benchmark to refine existing systems rather than a total summary of Nigeria’s fiscal governance.

“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,” Dare stated.

Reaffirming the administration’s commitment, Dare assured that work will continue to expand access to public financial data, strengthen audit institutions, and ensure efficient resource management to build public confidence and attract foreign investment.