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Nigeria's leading finance and market intelligence news report.

Nigeria drops 7 places on budget transparency index

…ranks 97th position out of 117 countries

Nigeria declined in its commitment to transparency, timely release and contents of budget documents by dropping seven places to 97th position out of 117 countries from its previous 90th ranking, according to 2019 Open Budget Survey (OBS) report.

The new survey released today by International Budget Partnership (IBP), show that Nigeria has a transparency score of 21 (out of 100), near its score of 17 in 2017.

A transparency score of 61 or above indicates a country is likely publishing enough material to support informed public debate on the budget.

According to the survey, Nigeria has increased the availability of budget information by publishing the Citizens Budget online and increasing the information provided in the Enacted Budget.

“However, Nigeria has decreased the availability of budget information by failing to publish the Audit Report online in a timely manner,” the survey stated.

The OBS is the world’s only independent, comparative and fact-based research instrument that uses internationally accepted criteria to assess public access to central government budget information; formal opportunities for the public to participate in the national budget process; and the role of budget oversight institutions such as the legislature and auditor in the budget process.

The seventh edition of the survey helps local civil society assess and confer with their government on the reporting and use of public funds.

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