- Cost of Living
- Panama
- Nigeria
- Comparison
Cost of living in Panama compared to Nigeria
Currency:
| Food | + 41% | |||
|---|---|---|---|---|
| Food in Panama is 41% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (4,446 ₦) | 2,400 ₦ | + 85% | |
| Combo meal in fast food restaurant (Big Mac Meal or similar) | 6 B/. (2,384 ₦) | 2,041 ₦ | + 17% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.57 B/. (1,311 ₦) | 988 ₦ | + 33% | |
| 1 liter (1 qt.) of whole fat milk | 1.62 B/. (594 ₦) | 918 ₦ | - 35% | |
| 12 eggs, large | 2.92 B/. (1,073 ₦) | 572 ₦ | + 88% | |
| 1 kg (2 lb.) of tomatoes | 3.20 B/. (1,177 ₦) | 634 ₦ | + 86% | |
| 500 gr (16 oz.) of local cheese | 4.68 B/. (1,720 ₦) | 1,900 ₦ | - 9% | |
| 1 kg (2 lb.) of apples | 4.51 B/. (1,657 ₦) | 1,171 ₦ | + 42% | |
| 1 kg (2 lb.) of potatoes | 2.00 B/. (735 ₦) | 918 ₦ | - 20% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 0.87 B/. (319 ₦) | 340 ₦ | - 6% | |
| 1 bottle of red table wine, good quality | 9 B/. (3,205 ₦) | 2,387 ₦ | + 34% | |
| 2 liters of Coca-Cola | 2.23 B/. (820 ₦) | 369 ₦ | + 122% | |
| Bread for 2 people for 1 day | 1.62 B/. (596 ₦) | 374 ₦ | + 60% | |
| Housing | + 66% | |||
| Housing in Panama is 66% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area | 1,595 B/. (586,196 ₦) | 327,096 ₦ | + 79% | |
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area | 1,004 B/. (368,720 ₦) | 265,824 ₦ | + 39% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 130 B/. (47,597 ₦) | 27,010 ₦ | + 76% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area | 988 B/. (362,934 ₦) | 234,517 ₦ | + 55% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area | 587 B/. (215,714 ₦) | 125,903 ₦ | + 71% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 Sqft) studio | 108 B/. (39,844 ₦) | 16,128 ₦ | + 147% | |
| Internet 8 Mbps (1 month) | 31 B/. (11,375 ₦) | 6,064 ₦ | + 88% | |
| 40” flat screen TV | 350 B/. (128,597 ₦) | 115,445 ₦ | + 11% | |
| Microwave 800/900 Watt (Bosch, Panasonic, LG, Sharp, or equivalent brands) | 95 B/. (34,938 ₦) | 35,316 ₦ | - 1% | |
| Laundry detergent (3 l. ~ 100 oz.) | 9 B/. (3,452 ₦) | 1,101 ₦ | + 214% | |
| Hourly rate for cleaning help | 4.18 B/. (1,537 ₦) | 1,488 ₦ | + 3% | |
| Clothes | + 64% | |||
| Clothes in Panama is 64% more expensive than in Nigeria | ||||
| 1 pair of jeans (Levis 501 or similar) | 67 B/. (24,777 ₦) | 6,787 ₦ | + 265% | |
| 1 summer dress in a High Street Store (Zara, H&M or similar retailers) | 39 B/. (14,296 ₦) | 10,295 ₦ | + 39% | |
| 1 pair of sport shoes (Nike, Adidas, or equivalent brands) | 82 B/. (30,308 ₦) | 16,193 ₦ | + 87% | |
| 1 pair of men’s leather business shoes | 97 B/. (35,750 ₦) | 27,800 ₦ | + 29% | |
| Transportation | + 36% | |||
| Transportation in Panama is 36% more expensive than in Nigeria | ||||
| Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new | 20,119 B/. (7,392,036 ₦) | 5,470,950 ₦ | + 35% | |
| 1 liter (1/4 gallon) of gas | 0.80 B/. (292 ₦) | 155 ₦ | + 89% | |
| Monthly ticket public transport | 37 B/. (13,709 ₦) | 10,211 ₦ | + 34% | |
| Personal Care | + 124% | |||
| Personal Care in Panama is 124% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (Tylenol, Frenadol, Coldrex, or equivalent brands) | 5.19 B/. (1,907 ₦) | 1,599 ₦ | + 19% | |
| 1 box of antibiotics (12 doses) | 28 B/. (10,423 ₦) | 1,933 ₦ | + 439% | |
| Short visit to private Doctor (15 minutes) | 41 B/. (14,903 ₦) | 7,156 ₦ | + 108% | |
| 1 box of 32 tampons (Tampax, OB, ...) | 8 B/. (2,982 ₦) | 1,414 ₦ | + 111% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.51 B/. (2,026 ₦) | 1,145 ₦ | + 77% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.59 B/. (2,053 ₦) | 1,441 ₦ | + 42% | |
| 4 rolls of toilet paper | 3.28 B/. (1,206 ₦) | 402 ₦ | + 200% | |
| Tube of toothpaste | 2.86 B/. (1,052 ₦) | 487 ₦ | + 116% | |
| Standard men's haircut in expat area of the city | 13 B/. (4,706 ₦) | 1,476 ₦ | + 219% | |
| Entertainment | + 65% | |||
| Entertainment in Panama is 65% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 50 B/. (18,275 ₦) | 5,419 ₦ | + 237% | |
| 2 tickets to the movies | 12 B/. (4,379 ₦) | 3,209 ₦ | + 36% | |
| 2 tickets to the theater (best available seats) | 104 B/. (38,072 ₦) | 17,434 ₦ | + 118% | |
| Dinner for two at an Italian restaurant in the expat area including appetisers, main course, wine and dessert | 71 B/. (26,157 ₦) | 15,524 ₦ | + 68% | |
| 1 cocktail drink in downtown club | 9 B/. (3,262 ₦) | 2,556 ₦ | + 28% | |
| Cappuccino in expat area of the city | 4.03 B/. (1,479 ₦) | 1,457 ₦ | + 2% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4.06 B/. (1,492 ₦) | 562 ₦ | + 165% | |
| iPad Wi-Fi 128GB | 586 B/. (215,148 ₦) | 186,359 ₦ | + 15% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | - | 43 ₦ | - | |
| 1 month of gym membership in business district | 58 B/. (21,240 ₦) | 14,882 ₦ | + 43% | |
| 1 package of Marlboro cigarettes | 5.21 B/. (1,915 ₦) | 471 ₦ | + 307% | |
| TOTAL | + 56% | |||
These prices were last updated on November 15, 2018.
Exchange rate:
367.408
NGN
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,990 prices entered by 175 different people.
Cost of living in Panama is 56% more expensive than in Nigeria
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