- Cost of Living
- Panama
- Nigeria
- Comparison
Cost of living in Panama compared to Nigeria
Currency:
| Food | + 40% | |||
|---|---|---|---|---|
| Food in Panama is 40% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (4,209 ₦) | 2,350 ₦ | + 79% | |
| Combo meal in fast food restaurant (Big Mac Meal or similar) | 6 B/. (2,366 ₦) | 2,113 ₦ | + 12% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.98 B/. (1,448 ₦) | 979 ₦ | + 48% | |
| 1 liter (1 qt.) of whole fat milk | 1.58 B/. (576 ₦) | 922 ₦ | - 38% | |
| 12 eggs, large | 2.55 B/. (928 ₦) | 574 ₦ | + 62% | |
| 1 kg (2 lb.) of tomatoes | 3.48 B/. (1,268 ₦) | 646 ₦ | + 96% | |
| 500 gr (16 oz.) of local cheese | 5.09 B/. (1,854 ₦) | 2,189 ₦ | - 15% | |
| 1 kg (2 lb.) of apples | 5.00 B/. (1,822 ₦) | 1,140 ₦ | + 60% | |
| 1 kg (2 lb.) of potatoes | 1.66 B/. (603 ₦) | 942 ₦ | - 36% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.01 B/. (369 ₦) | 321 ₦ | + 15% | |
| 1 bottle of red table wine, good quality | 9 B/. (3,190 ₦) | 2,387 ₦ | + 34% | |
| 2 liters of Coca-Cola | 2.32 B/. (845 ₦) | 373 ₦ | + 127% | |
| Bread for 2 people for 1 day | 1.59 B/. (578 ₦) | 375 ₦ | + 54% | |
| Housing | + 64% | |||
| Housing in Panama is 64% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area | 1,559 B/. (567,589 ₦) | 371,518 ₦ | + 53% | |
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area | 1,050 B/. (382,347 ₦) | 235,474 ₦ | + 62% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 164 B/. (59,584 ₦) | 28,635 ₦ | + 108% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area | 1,032 B/. (375,669 ₦) | 204,970 ₦ | + 83% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area | 635 B/. (231,050 ₦) | 107,913 ₦ | + 114% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 Sqft) studio | 124 B/. (45,049 ₦) | 18,994 ₦ | + 137% | |
| Internet 8 Mbps (1 month) | 32 B/. (11,704 ₦) | 7,060 ₦ | + 66% | |
| 40” flat screen TV | 364 B/. (132,580 ₦) | 119,290 ₦ | + 11% | |
| Microwave 800/900 Watt (Bosch, Panasonic, LG, Sharp, or equivalent brands) | 90 B/. (32,659 ₦) | 33,500 ₦ | - 3% | |
| Laundry detergent (3 l. ~ 100 oz.) | 10 B/. (3,588 ₦) | 1,142 ₦ | + 214% | |
| Hourly rate for cleaning help | 4.26 B/. (1,551 ₦) | 2,599 ₦ | - 40% | |
| Clothes | + 74% | |||
| Clothes in Panama is 74% more expensive than in Nigeria | ||||
| 1 pair of jeans (Levis 501 or similar) | 68 B/. (24,579 ₦) | 6,845 ₦ | + 259% | |
| 1 summer dress in a High Street Store (Zara, H&M or similar retailers) | 48 B/. (17,514 ₦) | 10,919 ₦ | + 60% | |
| 1 pair of sport shoes (Nike, Adidas, or equivalent brands) | 81 B/. (29,634 ₦) | 17,240 ₦ | + 72% | |
| 1 pair of men’s leather business shoes | 98 B/. (35,813 ₦) | 29,566 ₦ | + 21% | |
| Transportation | + 35% | |||
| Transportation in Panama is 35% more expensive than in Nigeria | ||||
| Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new | 19,573 B/. (7,126,426 ₦) | 5,470,950 ₦ | + 30% | |
| 1 liter (1/4 gallon) of gas | 0.77 B/. (282 ₦) | 150 ₦ | + 88% | |
| Monthly ticket public transport | 42 B/. (15,251 ₦) | 11,277 ₦ | + 35% | |
| Personal Care | + 135% | |||
| Personal Care in Panama is 135% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (Tylenol, Frenadol, Coldrex, or equivalent brands) | 6 B/. (2,280 ₦) | 1,712 ₦ | + 33% | |
| 1 box of antibiotics (12 doses) | 33 B/. (11,900 ₦) | 1,740 ₦ | + 584% | |
| Short visit to private Doctor (15 minutes) | 40 B/. (14,444 ₦) | 7,626 ₦ | + 89% | |
| 1 box of 32 tampons (Tampax, OB, ...) | 11 B/. (3,835 ₦) | 1,581 ₦ | + 142% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.48 B/. (1,997 ₦) | 1,106 ₦ | + 80% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 6.00 B/. (2,184 ₦) | 1,336 ₦ | + 64% | |
| 4 rolls of toilet paper | 3.31 B/. (1,205 ₦) | 390 ₦ | + 209% | |
| Tube of toothpaste | 2.41 B/. (876 ₦) | 478 ₦ | + 83% | |
| Standard men's haircut in expat area of the city | 13 B/. (4,690 ₦) | 1,593 ₦ | + 194% | |
| Entertainment | + 97% | |||
| Entertainment in Panama is 97% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 48 B/. (17,454 ₦) | 5,427 ₦ | + 222% | |
| 2 tickets to the movies | 12 B/. (4,227 ₦) | 3,246 ₦ | + 30% | |
| 2 tickets to the theater (best available seats) | 125 B/. (45,486 ₦) | 17,434 ₦ | + 161% | |
| Dinner for two at an Italian restaurant in the expat area including appetisers, main course, wine and dessert | 75 B/. (27,299 ₦) | 15,096 ₦ | + 81% | |
| 1 cocktail drink in downtown club | 9 B/. (3,263 ₦) | 2,655 ₦ | + 23% | |
| Cappuccino in expat area of the city | 4.06 B/. (1,479 ₦) | 1,656 ₦ | - 11% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4.16 B/. (1,516 ₦) | 575 ₦ | + 163% | |
| iPad Wi-Fi 128GB | 598 B/. (217,604 ₦) | 178,983 ₦ | + 22% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.50 B/. (182 ₦) | 62 ₦ | + 194% | |
| 1 month of gym membership in business district | 54 B/. (19,823 ₦) | 14,751 ₦ | + 34% | |
| 1 package of Marlboro cigarettes | 5.38 B/. (1,958 ₦) | 473 ₦ | + 314% | |
| TOTAL | + 61% | |||
These prices were last updated on January 15, 2019.
Exchange rate:
364.091
NGN
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,962 prices entered by 173 different people.
Cost of living in Panama is 61% more expensive than in Nigeria
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