United States Government has said that Nigeria is not making significant progress in fiscal transparency, referencing gaps in the country’s budget disclosure, expenditure reporting, public procurement transparency and audit processes.

The assessment is contained in a report by the United States Department of State, which reviewed Nigeria’s fiscal transparency practices in its 2026 fiscal transparency report for countries published on Tuesday.

The report noted that the US government stated that Nigeria made some key fiscal documents available to the public, significant shortcomings remained in the disclosure of budgetary information and the management of public finances.

The report noted that “the government made its enacted budget and end-of-year report widely and easily accessible to the public, including online, but did not publish its executive budget proposal within a reasonable period.”

It also stated that while the Nigerian government had made information concerning the country’s debt obligations publicly available, its budget documents failed to provide a comprehensive picture of government revenues and expenditures.

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“The government made information on debt obligations, including major state-owned enterprise debt, publicly available, but budget documents did not provide a substantially complete picture of the government’s revenues and expenditures, or break down expenditures to support executive offices in the budget,” the report stated.

The US government further raised concerns about discrepancies between Nigeria’s approved budget and the actual revenues and expenditures recorded during implementation.

It said, “Actual revenues and expenditures did not reasonably correspond to those in the enacted budget.”

The report also criticised the country’s supreme audit institution, stating that it did not meet international standards of independence and did not publish substantive reports, although it had access to the entire executed budget.

“The supreme audit institution did not meet international standards of independence or publish substantive reports but did have access to the entire executed budget,” it stated.

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The assessment, however, acknowledged that Nigeria’s sovereign wealth fund had an adequate legal framework and disclosed information about its funding and the general approach to withdrawals.History

“The sovereign wealth fund had a sound legal framework and disclosed its source of funding and general approach to withdrawals,” the US government said.

The World Bank Group is supporting the expansion of Africa’s digital commerce infrastructure to help small businesses reach new markets, create jobs, and strengthen economic opportunities across the continent.

Through Jumia, Africa’s leading e-commerce platform, the investment is expected to enable approximately 60,000 local annual active sellers to participate more fully in the digital economy, support around 1,800 direct jobs, and create income-generating opportunities for more than 100,000 independent sales agents.

As digital commerce continues to grow across Africa, reliable access to online marketplaces, logistics networks, and digital payments are becoming increasingly important for entrepreneurs and small businesses seeking to expand beyond local markets. Strengthening this infrastructure can help firms increase sales, improve productivity, and connect consumers with a wider range of affordable goods and services.

To support this effort, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is investing US$25 million in equity in Jumia Technologies AG (Jumia), Africa’s largest public e-commerce platform. The investment will support Jumia’s next phase of growth across its core African markets, strengthening its integrated marketplace and logistics network.

By expanding access to digital commerce tools and services, the investment will help businesses grow, improve price transparency, and contribute to more inclusive and resilient private sector development across Africa.

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“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly. It validates both the discipline we have brought to our business in recent years and the tangible impact our platform has on small businesses, jobs, and consumers across our eight markets. With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs” said Francis Dufay, CEO of Jumia.

“Jumia demonstrates how pan-African e-commerce platforms can expand economic opportunity at scale. Our investment supports the company’s next phase of growth while contributing to create jobs, digitizing supply chains and distributions channels and mobilizing private investment” said Farid Fezoua, Director for Equity, Funds, and Venture Capital at the International Finance Corporation, World Bank Group.

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has cautioned the public against fake recruitment offers and fraudulent employment letters circulating in the agency’s name.

Eniola Akinkuotu, head of Media and Corporate Communications of the Commission, stated that NUPRC has received reports of counterfeit and AI-generated appointment letters bearing names not known to the regulator.

The Commission also said fraudsters have been extorting money from jobseekers by promising placement within the agency.

NUPRC has reported the incidents to law enforcement and said investigations are underway.

The regulator reiterated that there is no ongoing recruitment exercise and warned members of the public not to make any payments for supposed job offers.

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“Whenever the Commission decides to recruit, the process will be conducted strictly in accordance with extant laws and government regulations,” the statement said.

The Commission urged jobseekers to verify any purported offer and to rely only on official NUPRC communications for recruitment information.

The warning follows growing concerns about the misuse of digital tools, including artificial intelligence, to fabricate apparently authentic documents that can deceive the public.