Cost of living in Panama compared to Nigeria
Currency:
| Food | + 49% | |||
|---|---|---|---|---|
| Food in Panama is 49% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (4,462 ₦) | 2,456 ₦ | + 82% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (2,672 ₦) | 2,030 ₦ | + 32% | |
| 500 gr (1 lb.) of boneless chicken breast | 2.86 B/. (1,090 ₦) | 1,031 ₦ | + 6% | |
| 1 liter (1 qt.) of whole fat milk | 1.52 B/. (580 ₦) | 693 ₦ | - 16% | |
| 12 eggs, large | 2.93 B/. (1,115 ₦) | 682 ₦ | + 63% | |
| 1 kg (2 lb.) of tomatoes | 2.68 B/. (1,021 ₦) | 550 ₦ | + 86% | |
| 500 gr (16 oz.) of local cheese | 5.99 B/. (2,281 ₦) | 2,663 ₦ | - 14% | |
| 1 kg (2 lb.) of apples | 2.92 B/. (1,111 ₦) | 829 ₦ | + 34% | |
| 1 kg (2 lb.) of potatoes | 2.01 B/. (767 ₦) | 717 ₦ | + 7% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.03 B/. (391 ₦) | 362 ₦ | + 8% | |
| 1 bottle of red table wine, good quality | 10 B/. (3,758 ₦) | 2,544 ₦ | + 48% | |
| 2 liters of coca-cola | 2.22 B/. (847 ₦) | 307 ₦ | + 176% | |
| Bread for 2 people for 1 day | 1.65 B/. (628 ₦) | 351 ₦ | + 79% | |
| Housing | + 82% | |||
| Housing in Panama is 82% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,298 B/. (494,571 ₦) | 365,534 ₦ | + 35% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 919 B/. (350,044 ₦) | 133,826 ₦ | + 162% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 109 B/. (41,638 ₦) | 26,822 ₦ | + 55% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 918 B/. (349,649 ₦) | 125,257 ₦ | + 179% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 673 B/. (256,255 ₦) | 115,758 ₦ | + 121% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 79 B/. (30,171 ₦) | 16,604 ₦ | + 82% | |
| Internet 8 mbps (1 month) | 41 B/. (15,650 ₦) | 9,095 ₦ | + 72% | |
| 40” flat screen tv | 389 B/. (148,252 ₦) | 70,488 ₦ | + 110% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 101 B/. (38,449 ₦) | 29,830 ₦ | + 29% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (2,884 ₦) | 1,281 ₦ | + 125% | |
| Hourly rate for cleaning help | 5.37 B/. (2,047 ₦) | 889 ₦ | + 130% | |
| Clothes | + 59% | |||
| Clothes in Panama is 59% more expensive than in Nigeria | ||||
| 1 pair of jeans (levis 501 or similar) | 44 B/. (16,853 ₦) | 6,437 ₦ | + 162% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (14,362 ₦) | 10,280 ₦ | + 40% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 68 B/. (25,753 ₦) | 16,911 ₦ | + 52% | |
| 1 pair of men’s leather business shoes | 78 B/. (29,639 ₦) | 18,034 ₦ | + 64% | |
| Transportation | + 13% | |||
| Transportation in Panama is 13% more expensive than in Nigeria | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,866 B/. (7,950,486 ₦) | 6,504,060 ₦ | + 22% | |
| 1 liter (1/4 gallon) of gas | 0.70 B/. (268 ₦) | 142 ₦ | + 88% | |
| Monthly ticket public transport | 32 B/. (12,282 ₦) | 12,367 ₦ | - 1% | |
| Personal Care | + 109% | |||
| Personal Care in Panama is 109% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 11 B/. (4,299 ₦) | 1,411 ₦ | + 205% | |
| 1 box of antibiotics (12 doses) | 19 B/. (7,373 ₦) | 2,139 ₦ | + 245% | |
| Short visit to private doctor (15 minutes) | 45 B/. (16,957 ₦) | 8,882 ₦ | + 91% | |
| 1 box of 32 tampons (tampax, ob, ...) | 3.83 B/. (1,459 ₦) | 1,083 ₦ | + 35% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.02 B/. (1,153 ₦) | 858 ₦ | + 34% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.59 B/. (2,131 ₦) | 1,400 ₦ | + 52% | |
| 4 rolls of toilet paper | 2.11 B/. (805 ₦) | 368 ₦ | + 118% | |
| Tube of toothpaste | 2.90 B/. (1,104 ₦) | 532 ₦ | + 107% | |
| Standard men's haircut in expat area of the city | 14 B/. (5,462 ₦) | 2,085 ₦ | + 162% | |
| Entertainment | + 65% | |||
| Entertainment in Panama is 65% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 33 B/. (12,415 ₦) | 5,838 ₦ | + 113% | |
| 2 tickets to the movies | 11 B/. (4,379 ₦) | 3,760 ₦ | + 16% | |
| 2 tickets to the theater (best available seats) | 39 B/. (14,796 ₦) | 13,722 ₦ | + 8% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 54 B/. (20,529 ₦) | 29,551 ₦ | - 31% | |
| 1 cocktail drink in downtown club | 10 B/. (3,753 ₦) | 2,449 ₦ | + 53% | |
| Cappuccino in expat area of the city | 4.62 B/. (1,761 ₦) | 1,692 ₦ | + 4% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.94 B/. (1,501 ₦) | 363 ₦ | + 314% | |
| Ipad wi-fi 128gb | 537 B/. (204,735 ₦) | 111,684 ₦ | + 83% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.34 B/. (128 ₦) | 28 ₦ | + 364% | |
| 1 month of gym membership in business district | 46 B/. (17,590 ₦) | 13,493 ₦ | + 30% | |
| 1 package of marlboro cigarettes | 5.35 B/. (2,040 ₦) | 391 ₦ | + 422% | |
| TOTAL | + 54% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 1,344 prices entered by 135 different people.
These prices were last updated on January 22, 2021.
Exchange rate:
381.031
NGN
/
PAB
*
Cost of living in Panama is 54% more expensive than in Nigeria
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