Home News Nigerian Govt Not Fiscally Transparent – U.S.

Nigerian Govt Not Fiscally Transparent – U.S.

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The U.S. has classified the Nigerian government among those that are not fiscally transparent.

The classification, contained in a report released Thursday by the U.S Department Of State, means Nigeria’s budgeting process, including its contracting and licensing processes in the extractive industry, did not meet the standards required of the American government.

The report, called the 2019 Fiscal Transparency Report, covers January 1 to December 31, 2018.

It assessed the fiscal transparency of 141 national governments that receive U.S assistance.

Seventy-four of the 141 governments met the minimum requirements of fiscal transparency, while 13 of the 67 that fell short of the standards made “significant progress”, the report said.

Nigeria is neither among the 74 that met the minimum requirements nor among the 13 adjudged to have made significant progress.

Some of the African countries classified alongside Nigeria are Egypt, Ethiopia, and the Gambia.

Gabon, Chad, Equatorial Guinea, Togo, Tanzania, Sudan, South Sudan, Niger, Mozambique, Mali, Lesotho, and Cameroon are also among the African countries whose governments failed the U.S transparency assessment.

China, Saudi Arabia, Iraq, Lebanon, and Ukraine are among non-African countries that failed to meet the American government requirements.

“During the review period, the government made its executive budget proposal, enacted budget, and end-of-year report accessible to the general public, including online.The executive budget proposal and the enacted budget, however, were not published within a reasonable period of time,” the report said of Nigeria.

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