FINANCIAL ATTRIBUTES AND FINANCIAL DISCLOSURE AMONG SOUTH-WEST STATES OF NIGERIA

Financial disclosure has become an essential component of good governance, ensuring transparency, accountability, and effective public financial management at the sub-national level. It reduces information asymmetry and strengthens public trust in government financial operations. However, in developing economies such as Nigeria, concerns persist regarding weak transparency and inconsistencies in financial reporting among state governments. Despite public sector accounting reforms, variations remain in financial disclosure levels across sub-national governments. This study therefore examines the determinants of financial disclosure among South-West states in Nigeria, focusing on financial autonomy, government expenditure size, and liquidity position.The study adopted an ex post facto research design within a quantitative framework, using panel data from the six South-West states (Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti) over 2015–2024. Census sampling was applied, and data were obtained from audited financial statements and official government financial reports. Both descriptive and inferential statistics, including multiple regression analysis, were used, with the Hausman test confirming the Random Effects Model as appropriate.The findings reveal that government expenditure size has a positive and significant effect on financial disclosure, indicating that higher expenditure enhances transparency and accountability. Liquidity position has a significant but negative effect, suggesting that financially stronger states may exhibit weaker disclosure incentives. Financial autonomy shows an insignificant relationship with financial disclosure. The study concludes that government expenditure size is a key determinant of financial disclosure, while liquidity position influences it negatively and financial autonomy has no significant effect. It is recommended that states strengthen transparency mechanisms by linking increased expenditure with improved reporting, ensuring liquidity strength does not reduce disclosure efforts, and reinforcing institutional frameworks for consistent financial reporting.