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Nigeria has failed the United States’ fiscal transparency test for a second consecutive year, but the latest assessment is less about whether the country has a budget than about what citizens can actually see, verify and track after public money is appropriated. The US Department of State’s 2026 Fiscal Transparency Report assessed 139 governments…
President Bola Ahmed Tinubu has allowed almost five months to pass without acting on the Federal Audit Service Bill, one of the most consequential public finance reforms to reach his desk in years, leaving the legislation stranded between passage and law and reviving old doubts about the depth of official commitment to accountability. The…
The Federal Government has raised its 2026 independent revenue target to N2.5tn to boost non-oil income. Acting Executive Chairman of the Fiscal Responsibility Commission, Charles Abana, announced the fresh target in Abuja. The policy shift follows the close monitoring of N1.84trn generated by public agencies as of September 2025. This ambitious fiscal benchmark comes at…
Telecommunications has cemented its place as one of the largest single contributors to public finance worldwide, with the global mobile industry generating more than $810 billion in tax revenues for governments in 2025, underlining its widening role in digital transformation, economic growth, and public sector financing. The figure, contained in the GSMA’s The Mobile…
Nigeria maintained its position as the third-largest global borrower from the World Bank’s International Development Association despite a marginal reduction in its debt stock. The nation’s outstanding exposure to the concessional lending arm stood at $18.5 billion as of March 31, 2026. This figure marks a slight 1.7 percent drop from the $18.7 billion recorded…
A nationwide assessment of fiscal transparency at the grassroots level has exposed a severe deficit in public access to local government financial information, with only 10 of Nigeria’s 36 states making annual budgets of their Local Government Areas publicly available online. The findings, contained in a report titled “The Missing Tier: Mapping Local…
Governor Babajide Sanwo-Olu has approved the redeployment of Dr. Muyiwa John Adetola as the new Accountant-General of Lagos State. The appointment, which includes the role of Permanent Secretary of the State Treasury Office (STO), took immediate effect on Monday, March 2. Adetola succeeds Dr. Abiodun Muritala, who has reached the statutory age for retirement from…
The scrutiny of Nigeria’s public finances intensified yesterday as lawmakers critically assessed the Independent National Electoral Commission’s (INEC) proposal for N873.78 billion to fund the 2027 general elections. Tensions flared as the Commission defended its early budget request, highlighting ongoing issues with fund allocation and financial mismanagement that have plagued several government agencies. During…
