US Report Vindicates Atiku, Exposes Deepening Fiscal Transparency Crisis Under Tinubu — Media Office

• Atiku Abubakar says the latest U.S. Department of State Fiscal Transparency Report validates his long-standing criticism of the Tinubu administration’s handling of Nigeria’s public finances.

• The report accused the Federal Government of failing to provide comprehensive budget information, publishing key fiscal documents late and maintaining weak public financial accountability.

• The former Vice President insists Nigerians have a constitutional right to know how every kobo of public revenue is generated and spent amid rising debt and inflation.

• Atiku’s media office says the opposition leader will sustain pressure on the Federal Government to embrace transparency, strengthen accountability and restore investor confidence.

August 13, () — The Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has declared that the latest Fiscal Transparency Report by the United States Department of State vindicates his repeated criticism of the Tinubu administration’s management of Nigeria’s public finances.

The former Vice President, through his media office, said the report reinforces concerns he has consistently raised over what he described as the Federal Government’s failure to uphold acceptable standards of fiscal transparency, accountability and public disclosure.

The position was conveyed on Thursday by Atiku’s Media Adviser, Paul Ibe, in a statement posted on his verified X handle shortly after the release of the U.S. assessment, which faulted Nigeria’s fiscal governance for the second consecutive year.

earlier reported that the U.S. Department of State, in its 2026 Fiscal Transparency Report, concluded that Nigeria failed to meet the minimum fiscal transparency requirements during the 2025 review period, citing weak budget disclosure, inadequate reporting of government revenues and expenditures, poor procurement transparency and ineffective audit oversight.

Reacting to the report, Atiku said its findings merely confirmed warnings he had repeatedly issued regarding the management of public resources under President Bola Tinubu’s administration.

According to him, Nigerians deserve complete transparency over the nation’s finances because public funds belong to the people and not those occupying public office.

“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. They are our resources and not the resources of President Bola Tinubu and his family and friends”, Atiku said.

He maintained that fiscal transparency is not merely an administrative obligation but the foundation of accountable governance, economic stability and public trust.

The former Vice President argued that inadequate disclosure of government finances weakens efforts to combat corruption, discourages investment and undermines confidence among citizens, development partners and international financial institutions.

He stressed that comprehensive disclosure of revenues from crude oil sales, taxation, borrowing and other government earnings, alongside detailed expenditure records, has become even more critical as Nigeria grapples with mounting public debt, persistent inflation and economic hardship.

According to Atiku, greater openness in the management of public resources would improve investor confidence, enhance Nigeria’s international credit standing and strengthen the country’s capacity to attract foreign direct investment and multilateral funding for infrastructure and social development.

US Faults Nigeria’s Budget Transparency

The U.S. report criticised the Federal Government for failing to publish its Executive Budget Proposal within a reasonable period before legislative approval, thereby limiting opportunities for public scrutiny and informed debate.

It also found that Nigeria’s budget documents failed to provide a substantially complete picture of government revenues and expenditures, while lacking sufficient breakdowns of allocations supporting executive offices.

The report further observed that actual government revenues and expenditures did not reasonably correspond with figures contained in the enacted budget, raising concerns over budget credibility and implementation.

The State Department also questioned the independence of the Office of the Auditor-General for the Federation, stating that the institution did not meet internationally recognised standards and had failed to publish substantive audit reports capable of strengthening public accountability.

In addition, the report highlighted deficiencies in Nigeria’s procurement transparency framework, saying information relating to public procurement contracts remained largely inaccessible to the public.

Although it acknowledged that the Federal Government published its enacted budget and end-of-year financial reports online and made information relating to debt obligations publicly available, the report concluded that those measures were insufficient to satisfy the minimum fiscal transparency standards.

Media Office Renews Call For Accountability

The Atiku Media Office said the report provides independent international validation of concerns that have repeatedly been raised by the former Vice President regarding the state of Nigeria’s public finances.

According to the statement, Atiku will continue to advocate stronger accountability mechanisms, greater openness in public financial management and institutional reforms capable of restoring confidence in Nigeria’s governance architecture.

The media office maintained that transparent management of public resources remains indispensable to fighting corruption, promoting sustainable economic growth and rebuilding public trust in government.

The U.S. Fiscal Transparency Report is an annual assessment mandated by the U.S. Congress to evaluate the openness, accountability and credibility of public financial management systems across partner countries.

Nigeria failed the assessment for the second consecutive year in the 2026 report after the State Department concluded that the country made no significant progress in strengthening fiscal transparency during the 2025 review period.