Nigeria vs Angola
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Nigeria | Angola | |
|---|---|---|
| BT-SFS score | 42.5 | 42.4 |
| Composite rating | B− | B− |
| Fiscal pillar | 42.4 | 51.6 |
| External pillar | 83.8 | 67.3 |
| Macro pillar | 44.2 | 40.2 |
| Institutions pillar | 0.0 | 8.3 |
| Benchmark bond | NGERIA 7.375 33 | ANGOL 9.375 33 |
| Spread over Treasuries | 307 bps | 494 bps |
| Yield to worst | 7.22% | 9.09% |
| Duration | 5.5y | 4.8y |
Metric by metric
| Metric | Nigeria | Angola |
|---|---|---|
| Current account / GDP | 5.8% (91.7) | 2.2% (77.1) |
| International reserves, months of imports | 7.1 mo (77.8) | 5.5 mo (60.0) |
| General government debt / GDP | 32.3% (83.3) | 51.6% (68.8) |
| Interest expense / revenue | 25.9% (14.6) | 26.0% (12.5) |
| Primary balance / GDP | -1.6% (27.1) | 1.3% (77.1) |
| WGI institutional composite | -1.04 (0.0) | -0.86 (8.3) |
| Real GDP growth | 4.1% (74.0) | 2.3% (30.2) |
| GDP per capita, USD | $1,556 (0.0) | $3,754 (16.7) |
| Inflation stress | 16.0% (55.0) | 12.9% (65.3) |
Frequently asked questions
Who has stronger fundamentals, Nigeria or Angola?
Nigeria scores higher on the BT Sovereign Fundamentals Score: 42.5 (Nigeria) vs 42.4 (Angola), a gap of 0.1 points.
Whose USD bonds trade wider, Nigeria or Angola?
Angola trades wider: 307 bps (Nigeria) vs 494 bps (Angola) over US Treasuries — a 187 bps gap on near-5-year USD benchmarks.
Related
- Nigeria — full Nigeria profile: pillars, metrics, history.
- Angola — full Angola profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.