Cost of living in Panama compared to Nigeria
Currency:
| Food | + 33% | |||
|---|---|---|---|---|
| Food in Panama is 33% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 14 B/. (6,441 ₦) | 2,565 ₦ | + 151% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (3,489 ₦) | 2,318 ₦ | + 51% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.91 B/. (1,799 ₦) | 1,522 ₦ | + 18% | |
| 1 liter (1 qt.) of whole fat milk | 1.63 B/. (748 ₦) | 1,222 ₦ | - 39% | |
| 12 eggs, large | 2.85 B/. (1,312 ₦) | 875 ₦ | + 50% | |
| 1 kg (2 lb.) of tomatoes | 2.07 B/. (953 ₦) | 1,033 ₦ | - 8% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (3,314 ₦) | 1,734 ₦ | + 91% | |
| 1 kg (2 lb.) of apples | 2.55 B/. (1,175 ₦) | 2,062 ₦ | - 43% | |
| 1 kg (2 lb.) of potatoes | 1.96 B/. (903 ₦) | 1,536 ₦ | - 41% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.51 B/. (696 ₦) | 604 ₦ | + 15% | |
| 1 bottle of red table wine, good quality | 13 B/. (6,136 ₦) | 4,511 ₦ | + 36% | |
| 2 liters of coca-cola | 2.44 B/. (1,125 ₦) | 580 ₦ | + 94% | |
| Bread for 2 people for 1 day | 1.61 B/. (742 ₦) | 460 ₦ | + 62% | |
| Housing | + 48% | |||
| Housing in Panama is 48% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,273 B/. (585,836 ₦) | 508,966 ₦ | + 15% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 852 B/. (392,253 ₦) | 205,525 ₦ | + 91% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 127 B/. (58,637 ₦) | 29,483 ₦ | + 99% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 908 B/. (417,679 ₦) | 270,729 ₦ | + 54% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 556 B/. (255,896 ₦) | 113,807 ₦ | + 125% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 78 B/. (36,031 ₦) | 9,353 ₦ | + 285% | |
| Internet 8 mbps (1 month) | 46 B/. (21,295 ₦) | 15,546 ₦ | + 37% | |
| 40” flat screen tv | 340 B/. (156,391 ₦) | 95,780 ₦ | + 63% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 106 B/. (48,889 ₦) | 31,540 ₦ | + 55% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (3,846 ₦) | 5,479 ₦ | - 30% | |
| Hourly rate for cleaning help | 15 B/. (6,992 ₦) | 1,500 ₦ | + 366% | |
| Clothes | + 35% | |||
| Clothes in Panama is 35% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 48 B/. (21,984 ₦) | 8,961 ₦ | + 145% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 26 B/. (12,031 ₦) | 11,056 ₦ | + 9% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 79 B/. (36,309 ₦) | 25,787 ₦ | + 41% | |
| 1 pair of men’s leather business shoes | 83 B/. (38,428 ₦) | 26,918 ₦ | + 43% | |
| Transportation | - 20% | |||
| Transportation in Panama is 20% cheaper than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 22,433 B/. (10,324,660 ₦) | 23,442,500 ₦ | - 56% | |
| 1 liter (1/4 gallon) of gas | 1.29 B/. (594 ₦) | 273 ₦ | + 117% | |
| Monthly ticket public transport | 42 B/. (19,158 ₦) | 19,283 ₦ | - 1% | |
| Personal Care | + 242% | |||
| Personal Care in Panama is 242% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (3,860 ₦) | 383 ₦ | + 909% | |
| 1 box of antibiotics (12 doses) | 32 B/. (14,943 ₦) | 1,629 ₦ | + 817% | |
| Short visit to private doctor (15 minutes) | 62 B/. (28,592 ₦) | 19,489 ₦ | + 47% | |
| 1 box of 32 tampons (tampax, ob, ...) | 9 B/. (4,089 ₦) | 2,247 ₦ | + 82% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.05 B/. (2,326 ₦) | 835 ₦ | + 179% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (3,203 ₦) | 1,013 ₦ | + 216% | |
| 4 rolls of toilet paper | 3.79 B/. (1,745 ₦) | 469 ₦ | + 272% | |
| Tube of toothpaste | 3.38 B/. (1,556 ₦) | 620 ₦ | + 151% | |
| Standard men's haircut in expat area of the city | 19 B/. (8,727 ₦) | 1,534 ₦ | + 469% | |
| Entertainment | + 68% | |||
| Entertainment in Panama is 68% more expensive than in Nigeria | ||||
| Panama | Nigeria | Diff | ||
| Basic dinner out for two in neighborhood pub | 29 B/. (13,368 ₦) | 9,781 ₦ | + 37% | |
| 2 tickets to the movies | 13 B/. (5,763 ₦) | 5,412 ₦ | + 6% | |
| 2 tickets to the theater (best available seats) | 55 B/. (25,416 ₦) | 8,826 ₦ | + 188% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 47 B/. (21,815 ₦) | 17,024 ₦ | + 28% | |
| 1 cocktail drink in downtown club | 8 B/. (3,901 ₦) | 3,233 ₦ | + 21% | |
| Cappuccino in expat area of the city | 5.69 B/. (2,620 ₦) | 1,074 ₦ | + 144% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.75 B/. (1,264 ₦) | 500 ₦ | + 153% | |
| Ipad wi-fi 128gb | 651 B/. (299,673 ₦) | 182,671 ₦ | + 64% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.22 B/. (102 ₦) | 24 ₦ | + 330% | |
| 1 month of gym membership in business district | 47 B/. (21,780 ₦) | 19,892 ₦ | + 9% | |
| 1 package of marlboro cigarettes | 5.66 B/. (2,604 ₦) | 505 ₦ | + 416% | |
| TOTAL | + 26% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 1,027 prices entered by 122 different people.
These prices were last updated on January 24, 2023.
Exchange rate:
460.244
NGN
/
PAB
*
Cost of living in Panama is 26% more expensive than in Nigeria
Other Country Comparisons
- Cost of living in Antigua and Barbuda is 60% more expensive than in Nigeria
- Cost of living in Armenia is 11% more expensive than in Nigeria
- Cost of living in Andorra is 70% more expensive than in Nigeria
- Cost of living in Anguilla is 152% more expensive than in Nigeria
- Cost of living in Angola is 26% more expensive than in Nigeria
- Cost of living in Netherlands Antilles is 87% more expensive than in Nigeria
- Cost of living in United Arab Emirates is 78% more expensive than in Nigeria
- Cost of living in American Samoa is in Nigeria