Cost of living in Panama compared to Nigeria
Currency:
| Food | + 145% | |||
|---|---|---|---|---|
| Food in Panama is 145% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 14 B/. (23,052 ₦) | 6,197 ₦ | + 272% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (11,994 ₦) | 4,250 ₦ | + 182% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.36 B/. (5,403 ₦) | 3,207 ₦ | + 68% | |
| 1 liter (1 qt.) of whole fat milk | 1.78 B/. (2,859 ₦) | 1,209 ₦ | + 136% | |
| 12 eggs, large | 3.03 B/. (4,858 ₦) | 2,479 ₦ | + 96% | |
| 1 kg (2 lb.) of tomatoes | 2.47 B/. (3,968 ₦) | 1,495 ₦ | + 165% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (11,743 ₦) | 5,933 ₦ | + 98% | |
| 1 kg (2 lb.) of apples | 3.03 B/. (4,869 ₦) | 3,488 ₦ | + 40% | |
| 1 kg (2 lb.) of potatoes | 2.27 B/. (3,638 ₦) | 2,733 ₦ | + 33% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.55 B/. (2,497 ₦) | 1,037 ₦ | + 141% | |
| 1 bottle of red table wine, good quality | 12 B/. (18,471 ₦) | 9,593 ₦ | + 93% | |
| 2 liters of coca-cola | 2.55 B/. (4,096 ₦) | 1,084 ₦ | + 278% | |
| Bread for 2 people for 1 day | 2.19 B/. (3,511 ₦) | 1,323 ₦ | + 165% | |
| Housing | + 53% | |||
| Housing in Panama is 53% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,591 B/. (2,555,110 ₦) | 2,222,680 ₦ | + 15% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 1,002 B/. (1,609,168 ₦) | 1,328,290 ₦ | + 21% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 153 B/. (246,248 ₦) | 153,894 ₦ | + 60% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 1,004 B/. (1,611,320 ₦) | 844,148 ₦ | + 91% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 658 B/. (1,055,734 ₦) | 754,176 ₦ | + 40% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 97 B/. (155,685 ₦) | 240,561 ₦ | - 35% | |
| Internet 8 mbps (1 month) | 45 B/. (71,858 ₦) | 28,675 ₦ | + 151% | |
| 40” flat screen tv | 280 B/. (449,755 ₦) | 387,079 ₦ | + 16% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 131 B/. (210,495 ₦) | 126,450 ₦ | + 66% | |
| Laundry detergent (3 l. ~ 100 oz.) | 19 B/. (29,991 ₦) | 2,193 ₦ | + 1268% | |
| Hourly rate for cleaning help | 11 B/. (17,003 ₦) | 2,985 ₦ | + 470% | |
| Clothes | + 352% | |||
| Clothes in Panama is 352% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 44 B/. (69,934 ₦) | 17,024 ₦ | + 311% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 49 B/. (78,556 ₦) | 15,682 ₦ | + 401% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 110 B/. (175,862 ₦) | 45,968 ₦ | + 283% | |
| 1 pair of men’s leather business shoes | 146 B/. (235,192 ₦) | 50,000 ₦ | + 370% | |
| Transportation | + 65% | |||
| Transportation in Panama is 65% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 24,370 B/. (39,129,050 ₦) | 5,000,000 ₦ | + 683% | |
| 1 liter (1/4 gallon) of gas | 0.97 B/. (1,559 ₦) | 1,034 ₦ | + 51% | |
| Monthly ticket public transport | 27 B/. (43,863 ₦) | 34,491 ₦ | + 27% | |
| Personal Care | + 467% | |||
| Personal Care in Panama is 467% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 10 B/. (16,597 ₦) | 4,044 ₦ | + 310% | |
| 1 box of antibiotics (12 doses) | 19 B/. (30,528 ₦) | 1,768 ₦ | + 1627% | |
| Short visit to private doctor (15 minutes) | 80 B/. (128,726 ₦) | 17,619 ₦ | + 631% | |
| 1 box of 32 tampons (tampax, ob, ...) | 11 B/. (18,389 ₦) | 4,474 ₦ | + 311% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 7 B/. (11,440 ₦) | 1,749 ₦ | + 554% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 9 B/. (13,675 ₦) | 3,834 ₦ | + 257% | |
| 4 rolls of toilet paper | 4.49 B/. (7,211 ₦) | 2,923 ₦ | + 147% | |
| Tube of toothpaste | 3.34 B/. (5,359 ₦) | 1,338 ₦ | + 301% | |
| Standard men's haircut in expat area of the city | 40 B/. (63,898 ₦) | 3,631 ₦ | + 1660% | |
| Entertainment | + 116% | |||
| Entertainment in Panama is 116% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Basic dinner out for two in neighborhood pub | 36 B/. (57,380 ₦) | 43,872 ₦ | + 31% | |
| 2 tickets to the movies | 11 B/. (18,120 ₦) | 11,069 ₦ | + 64% | |
| 2 tickets to the theater (best available seats) | 35 B/. (56,088 ₦) | 15,224 ₦ | + 268% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 66 B/. (105,303 ₦) | 42,055 ₦ | + 150% | |
| 1 cocktail drink in downtown club | 17 B/. (26,970 ₦) | 4,541 ₦ | + 494% | |
| Cappuccino in expat area of the city | 8 B/. (13,362 ₦) | 3,331 ₦ | + 301% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4.62 B/. (7,412 ₦) | 1,421 ₦ | + 422% | |
| Ipad wi-fi 128gb | 805 B/. (1,292,322 ₦) | 298,218 ₦ | + 333% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.50 B/. (803 ₦) | - | - | |
| 1 month of gym membership in business district | 57 B/. (92,229 ₦) | 34,159 ₦ | + 170% | |
| 1 package of marlboro cigarettes | 8 B/. (12,937 ₦) | 2,500 ₦ | + 417% | |
| TOTAL | + 104% | |||
This comparison is lacking data. It provides a decent comparison, but it is not yet reliable. It is based on 564 prices entered by 73 different people.
These prices were last updated on April 09, 2025.
Exchange rate:
1605.604
NGN
/
PAB
*
Cost of living in Panama is 104% more expensive than in Nigeria
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