- Cost of Living
- Panama
- Nigeria
- Comparison
Cost of living in Panama compared to Nigeria
Currency:
| Food | + 24% | |||
|---|---|---|---|---|
| Food in Panama is 24% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 9 B/. (3,229 ₦) | 2,460 ₦ | + 31% | |
| Combo meal in fast food restaurant (Big Mac Meal or similar) | 6 B/. (2,249 ₦) | 1,906 ₦ | + 18% | |
| 500 gr (1 lb.) of boneless chicken breast | 2.73 B/. (988 ₦) | 1,007 ₦ | - 2% | |
| 1 liter (1 qt.) of whole fat milk | 1.58 B/. (571 ₦) | 832 ₦ | - 31% | |
| 12 eggs, large | 2.42 B/. (875 ₦) | 593 ₦ | + 48% | |
| 1 kg (2 lb.) of tomatoes | 2.54 B/. (921 ₦) | 662 ₦ | + 39% | |
| 500 gr (16 oz.) of local cheese | 8 B/. (2,765 ₦) | 2,080 ₦ | + 33% | |
| 1 kg (2 lb.) of apples | 3.48 B/. (1,260 ₦) | 1,193 ₦ | + 6% | |
| 1 kg (2 lb.) of potatoes | 1.71 B/. (620 ₦) | 845 ₦ | - 27% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 0.94 B/. (341 ₦) | 345 ₦ | - 1% | |
| 1 bottle of red table wine, good quality | 9 B/. (3,275 ₦) | 2,404 ₦ | + 36% | |
| 2 liters of Coca-Cola | 2.17 B/. (788 ₦) | 380 ₦ | + 107% | |
| Bread for 2 people for 1 day | 1.67 B/. (606 ₦) | 369 ₦ | + 64% | |
| Housing | + 81% | |||
| Housing in Panama is 81% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area | 1,530 B/. (554,396 ₦) | 332,937 ₦ | + 67% | |
| Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area | 965 B/. (349,641 ₦) | 203,059 ₦ | + 72% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 178 B/. (64,371 ₦) | 27,010 ₦ | + 138% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area | 1,113 B/. (403,399 ₦) | 216,517 ₦ | + 86% | |
| Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area | 681 B/. (246,610 ₦) | 119,786 ₦ | + 106% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 Sqft) studio | 118 B/. (42,625 ₦) | 17,516 ₦ | + 143% | |
| Internet 8 Mbps (1 month) | 33 B/. (11,845 ₦) | 5,493 ₦ | + 116% | |
| 40” flat screen TV | 336 B/. (121,709 ₦) | 117,048 ₦ | + 4% | |
| Microwave 800/900 Watt (Bosch, Panasonic, LG, Sharp, or equivalent brands) | 79 B/. (28,538 ₦) | 38,623 ₦ | - 26% | |
| Laundry detergent (3 l. ~ 100 oz.) | 12 B/. (4,367 ₦) | 1,169 ₦ | + 274% | |
| Hourly rate for cleaning help | 4.02 B/. (1,456 ₦) | 1,491 ₦ | - 2% | |
| Clothes | + 65% | |||
| Clothes in Panama is 65% more expensive than in Nigeria | ||||
| 1 pair of jeans (Levis 501 or similar) | 56 B/. (20,453 ₦) | 6,183 ₦ | + 231% | |
| 1 summer dress in a High Street Store (Zara, H&M or similar retailers) | 38 B/. (13,691 ₦) | 9,445 ₦ | + 45% | |
| 1 pair of sport shoes (Nike, Adidas, or equivalent brands) | 78 B/. (28,369 ₦) | 16,193 ₦ | + 75% | |
| 1 pair of men’s leather business shoes | 98 B/. (35,385 ₦) | 26,338 ₦ | + 34% | |
| Transportation | + 12% | |||
| Transportation in Panama is 12% more expensive than in Nigeria | ||||
| Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new | 18,395 B/. (6,665,413 ₦) | 6,199,200 ₦ | + 8% | |
| 1 liter (1/4 gallon) of gas | 0.78 B/. (283 ₦) | 152 ₦ | + 87% | |
| Monthly ticket public transport | 33 B/. (12,082 ₦) | 11,380 ₦ | + 6% | |
| Personal Care | + 133% | |||
| Personal Care in Panama is 133% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (Tylenol, Frenadol, Coldrex, or equivalent brands) | 9 B/. (3,294 ₦) | 1,672 ₦ | + 97% | |
| 1 box of antibiotics (12 doses) | 31 B/. (11,107 ₦) | 1,933 ₦ | + 475% | |
| Short visit to private Doctor (15 minutes) | 44 B/. (16,123 ₦) | 7,629 ₦ | + 111% | |
| 1 box of 32 tampons (Tampax, OB, ...) | 6 B/. (2,352 ₦) | 1,414 ₦ | + 66% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.68 B/. (2,057 ₦) | 1,122 ₦ | + 83% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.15 B/. (1,865 ₦) | 1,483 ₦ | + 26% | |
| 4 rolls of toilet paper | 3.51 B/. (1,270 ₦) | 417 ₦ | + 205% | |
| Tube of toothpaste | 2.54 B/. (921 ₦) | 439 ₦ | + 110% | |
| Standard men's haircut in expat area of the city | 12 B/. (4,321 ₦) | 1,439 ₦ | + 200% | |
| Entertainment | + 62% | |||
| Entertainment in Panama is 62% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 43 B/. (15,681 ₦) | 5,811 ₦ | + 170% | |
| 2 tickets to the movies | 11 B/. (4,018 ₦) | 3,170 ₦ | + 27% | |
| 2 tickets to the theater (best available seats) | 86 B/. (31,018 ₦) | 17,434 ₦ | + 78% | |
| Dinner for two at an Italian restaurant in the expat area including appetisers, main course, wine and dessert | 73 B/. (26,522 ₦) | 16,701 ₦ | + 59% | |
| 1 cocktail drink in downtown club | 9 B/. (3,204 ₦) | 2,468 ₦ | + 30% | |
| Cappuccino in expat area of the city | 4.43 B/. (1,604 ₦) | 1,457 ₦ | + 10% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4.17 B/. (1,513 ₦) | 519 ₦ | + 191% | |
| iPad Wi-Fi 128GB | 526 B/. (190,457 ₦) | 231,505 ₦ | - 18% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.15 B/. (54 ₦) | 28 ₦ | + 95% | |
| 1 month of gym membership in business district | 61 B/. (22,281 ₦) | 14,221 ₦ | + 57% | |
| 1 package of Marlboro cigarettes | 5.11 B/. (1,852 ₦) | 453 ₦ | + 309% | |
| TOTAL | + 50% | |||
These prices were last updated on September 18, 2018.
Exchange rate:
362.355
NGN
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,999 prices entered by 180 different people.
Cost of living in Panama is 50% more expensive than in Nigeria
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