Special Adviser, Media & Public Communication/Spokesperson to President Bola Tinubu, President of Nigeria. ABU, UNIJOS, NYU,Harvard & Oxford Universities.
Re: The Fiscal Transparency Test
The report by the U.S. Department of State on fiscal transparency is noted. Fiscal transparency, accountability and effective public financial management remain important priorities of the Federal Government, and Nigeria continues to implement reforms aimed at strengthening the management, reporting and disclosure of public resources.
It is important, however, to properly contextualize the findings. The U.S. Fiscal Transparency Report is a specific assessment against the Department of State's minimum fiscal-transparency requirements, particularly the public disclosure of national budget information, government contracts and natural-resource licenses. It should therefore not be interpreted as a comprehensive assessment of all fiscal and public financial management reforms currently underway in Nigeria.
Indeed, the report itself recognizes progress by Nigeria in making budget documents and debt obligations publicly available. The issues identified, particularly around procurement disclosure, budget-execution reporting and audit processes, are areas that the government takes seriously and where ongoing institutional reforms are intended to produce further improvements.
Nigeria has established a number of mechanisms to promote fiscal transparency, including the Open Treasury initiative, public budget documentation, debt disclosures and reforms to public procurement. The government is also strengthening digital procurement and other systems designed to improve the accessibility, reliability and timeliness of public financial information.
The appropriate response, therefore, is neither to dismiss the findings nor to portray them as a complete characterization of Nigeria's fiscal governance. Rather, the report provides an external benchmark against which existing reforms can be further strengthened.
The Federal Government remains committed to improving the quality and timeliness of fiscal reporting, strengthening audit institutions, expanding access to procurement information and ensuring that citizens, investors and other stakeholders have greater visibility into the management and utilization of public resources.
The objective is ultimately the same: a more transparent, accountable and credible fiscal system that strengthens public confidence, supports investment and ensures that public resources are managed efficiently and in the national interest.
"Tinubu came in when Nigeria was about to go into extinction, so you do not expect him to become a magician to perform miracles overnight. I want to salute the audacity of Mr. President and support his reforms to help him achieve greater strides and greater things."
— Owoicho
Door to door campaign in Oke Ola, Osogbo with @manlikesea, @fattylincorn_01, @ola_kish, @RealFikayomi66 and others. The prosperity agenda of Asiwaju Munirudeen Bola Oyebamiji (@OyebamijiBola), the Gubernatorial Candidate of the APC (@OfficialAPCNg) in Osun State has been accepted by the grassroots. AMBO is going to win and even Trump will congratulate him 💙✌🏽.
TAX REFORM AND THE RENEWED HOPE AGENDA: WHY CONTINUITY MATTERS
President Tinubu staked all to drive through the Tax laws. It was not for nothing. It was for country. It was a long expected overhaul needed to be delivered for Nigeria to get a new vista. It was a Tinubu economic master stroke.
Indeed, there are moments in the life of a nation when leadership must choose between what is immediately popular and what is necessary to build a stronger future.
Nigeria is at such a moment.
Since taking office, President Bola Ahmed Tinubu has pursued difficult but necessary reforms aimed at strengthening the economy, improving public finances and creating a more sustainable foundation for national development.
This is where the Tax Reform deserves to be properly understood.
Tax reform is not simply about taxation. It is about building a system that is fairer, simpler and more efficient; one that broadens the revenue base, encourages investment and gives government greater capacity to fund development.
Because development requires resources.
Roads require resources. Energy requires investment. Agriculture, transportation, healthcare, education, security and job creation all require sustainable funding.
This is why the tax reform conversation is bigger than taxes. It is part of the broader effort to build an economy capable of financing Nigeria’s development over the long term.
And that connects directly to the Renewed Hope Agenda.
Across infrastructure, transportation, energy, agriculture, enterprise development and other critical sectors, the Tinubu administration is pursuing reforms and investments designed not merely to address today’s challenges, but to create stronger foundations for tomorrow.
The real test of reform, however, is not whether every result appears overnight.
It is whether the reforms create a stronger system capable of delivering greater results over time.
That requires patience. It requires consistency. And above all, it requires continuity.
This is why 2027 should be more than another political contest. It should be a conversation about the direction of Nigeria and whether the reforms already underway should be strengthened and consolidated.
Nigeria cannot afford to keep starting over.
We must build on what is working, correct what needs improvement and give successful reforms the time and stability required to deliver their full potential.
The work has started. The foundation is being laid. The next phase should be about consolidation, expansion and delivering even more for Nigerians.
That is the essence of continuity.
That is the promise of Renewed Hope.
"We are beginning to see a situation whereby people who have been kidnapped have been rescued, and the farmers are beginning to go to farm... There's a relationship between Nigerian and Brazilian farmers in that there's going to be a technology transfer, modern farming equipment, improved technology, and at the same time they're coming with a template that will be replicated so that every African country can copy from Nigeria today. But I'll give credit to Mr. President."
— Ibrahim Garba, National publicity secretary of the All Farmers Association of Nigeria
A vital connection between the North-Central and South-East is being strengthened through the ongoing dualisation of Section II of the 250-kilometre Makurdi–Otukpo–9th Mile Enugu Highway, linking Nasarawa, Benue and Enugu States.
For Benue, Nigeria’s food basket, the corridor carries enormous economic significance. Improved connectivity will make it easier to move agricultural produce from farms to major markets, reduce transportation costs and strengthen trade across the region.
Implemented by the Federal Ministry of Works and executed by China Harbour Engineering Company (CHEC), the project reflects the transformative potential of strategic infrastructure investment in connecting communities, markets and opportunities.
@NigeriaGov | @benuestategovt | @HyacinthAlia
📍 Renewed Hope National Media Tour | North Central | Benue State | Section 2, Makurdi-9th Mile-Enugu Highway
#RenewedHopeAgenda #PresidentTinubu #StateHouseDigital #RenewedHopeInAction #RenewedHopeMediaTour
Today, at the @ARISEtv Townhall, I discussed my plan and path for Osun, what I will do differently, how we will manage our resources, and how the present administration has continued to waste resources that should be working for our people.
I also spoke about the unequal distribution of our resources. Under my administration, no part of Osun will be treated as less important. Every local government, every community and every citizen will have a fair share of government’s attention and resources.
I also used the opportunity to clear the air on the issue of Federal Might. I restated that I have toured all the Local Governments and Area Offices in Osun three times. This is a testament to the hard work, grassroots engagement and direct connection with our people that have defined this campaign.
Our victory on Saturday will not be accidental. It will be the result of the resolve of our people, the strength of our grassroots network and our collective determination to end maladministration and restore responsible leadership in Osun.
We have done the work. We have met our people. We have listened to them.
Now, together, we are ready to take Osun forward.
Before going on stage for the Arise TV Town Hall, the Star Boy of Osun State and incoming 001, Asiwaju Munirudeen Bola Oyebamiji (@OyebamijiBola), the Gubernatorial Candidate of the APC (@OfficialAPCNg) said in a short interview that “governance is not theatre or dancing. Governance is serious business and he will lead a serious government.” Same way Wizkid has taken his craft seriously in the last 15 years and even won a Grammy 🥇. AMBO is coming 💙✌🏽.
Asiwaju Munirudeen Bola Oyebamiji (@OyebamijiBola), the Gubernatorial Candidate of the APC (@OfficialAPCNg) in Osun spoke about his Prosperity Agenda at the Arise TV Town Hall today in Osogbo. We will visit more villages tomorrow while Adeleke & his boys throw more tantrums.
Asiwaju Munirudeen Bola Oyebamiji (@OyebamijiBola), the Gubernatorial Candidate of the APC (@OfficialAPCNg) in Osun State on stage at the Arise TV Town Hall in Osogbo confirms that almost 50 trade groups have endorsed him. #AriseTvTownHallWithAMBO
STATEHOUSE PRESS RELEASE
PRESIDENT TINUBU APPROVES LANDMARK DEEP OFFSHORE INVESTMENT FRAMEWORK TO UNLOCK UP TO US$50 BILLION IN NEW INVESTMENT
President Bola Ahmed Tinubu, GCFR, has approved a landmark reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to US$50 billion in deep offshore investment and restart Nigeria's large, capital-intensive offshore developments that have remained stalled for decades.
The reform establishes a transparent, rules-based investment framework capable of supporting the next generation of deep offshore developments, beginning with the approximately US$10 billion Bonga South West project, while strengthening Nigeria's competitiveness for globally mobile investment capital.
The decision builds on President Tinubu's engagement with the Chief Executive Officer of Shell plc, Mr Wael Sawan, during which the President directed the development of the next wave of measures required to unlock Nigeria's deep offshore investment pipeline. Rather than pursuing project-specific solutions, the Federal Government transformed that directive into a comprehensive investment framework applicable across multiple categories of qualifying developments.
Given effect through the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, the framework replaces project-by-project negotiations with transparent eligibility criteria, clear implementation processes and a durable investment architecture that provides greater certainty for investors while safeguarding long-term national value.
The approval also enables NNPC Limited, as the Government's nominated counterparty under the Production Sharing Contracts, to proceed with the necessary amendments to eligible Production Sharing Contracts required to implement the framework.
A defining feature of the reform is its emphasis on Nigerian industrial capability, said Olu Arowolo-Verheijen, the President’s special adviser on oil and gas.
“Projects qualifying under the framework will maximise execution within Nigeria wherever commercially and technically feasible, strengthening domestic engineering, fabrication, marine logistics, technical services and project management. The objective is not only to increase investment and production, but also to create skilled jobs, deepen local supply chains and position Nigeria as Africa's regional hub for deep offshore project execution.”
Acting on the President's directive, a framework that will deliver a durable investment architecture for Nigeria's deep offshore sector has been developed following an extensive inter-agency process, in close collaboration with the presidency, fiscal, legal, commercial and regulatory institutions, alongside operators in the industry,
President Bola Ahmed Tinubu commended the Federal Ministry of Justice, the Federal Ministry of Finance, the Federal Ministry of Petroleum Resources, the Nigeria Revenue Service, NNPC Limited, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Content Development and Monitoring Board, investing partners and other industry stakeholders whose collaboration, technical expertise and commitment helped shape the framework.
President Tinubu said:
“The countries that attract long-term investment are not necessarily those with the greatest natural resources. They are the ones that provide the greatest certainty. This reform reflects our determination to build an investment environment defined by clear rules, strong institutions and enduring partnerships. We are creating the conditions for capital to flow, for Nigerian businesses to grow, for our people to prosper and for our natural resources to deliver lasting national value.”
—Bayo ONANUGA,
Special Adviser to the President
(Information and Strategy)
August 11, 2026
Osun Decides : Leadership is about all of us, not some people, not a city or some towns. We have to change Osun State from being about one Local government to the entire Osun State”- Incoming Governor, Osun State, Asiwaju Bola Oyebamiji #AMBO4Osun#AmboAtide#AmboAmaWole
Osun Decides : The track record is there, listen to a man with track record.
He's resurrected moribund institutions, his acumen follows him and as it incoming governor, there is hope for Osun. #AMBO4Osun#AmboAtide#AmboAmaWole
Osun 2026-Guber. Arise TV. Live Town Hall. Incoming- Governor Bola Munirudeen Oyebamiji,
“ Under the 4 years of Governor Oyetola we did not borrow a kobo. Rather, we left 15 billion naira in the coffers of the State Government”.