Cost of living in Panama compared to Nigeria
Currency:
| Food | + 39% | |||
|---|---|---|---|---|
| Food in Panama is 39% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (4,381 ₦) | 2,074 ₦ | + 111% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (2,598 ₦) | 2,369 ₦ | + 10% | |
| 500 gr (1 lb.) of boneless chicken breast | 2.65 B/. (1,010 ₦) | 1,030 ₦ | - 2% | |
| 1 liter (1 qt.) of whole fat milk | 1.40 B/. (534 ₦) | 690 ₦ | - 23% | |
| 12 eggs, large | 2.77 B/. (1,054 ₦) | 708 ₦ | + 49% | |
| 1 kg (2 lb.) of tomatoes | 2.60 B/. (991 ₦) | 533 ₦ | + 86% | |
| 500 gr (16 oz.) of local cheese | 5.99 B/. (2,280 ₦) | 3,269 ₦ | - 30% | |
| 1 kg (2 lb.) of apples | 2.92 B/. (1,111 ₦) | 847 ₦ | + 31% | |
| 1 kg (2 lb.) of potatoes | 2.03 B/. (774 ₦) | 961 ₦ | - 19% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 0.99 B/. (377 ₦) | 440 ₦ | - 14% | |
| 1 bottle of red table wine, good quality | 10 B/. (3,679 ₦) | 2,826 ₦ | + 30% | |
| 2 liters of coca-cola | 2.20 B/. (837 ₦) | 306 ₦ | + 174% | |
| Bread for 2 people for 1 day | 1.64 B/. (625 ₦) | 361 ₦ | + 73% | |
| Housing | + 57% | |||
| Housing in Panama is 57% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,350 B/. (514,214 ₦) | 427,015 ₦ | + 20% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 886 B/. (337,491 ₦) | 169,522 ₦ | + 99% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 108 B/. (41,108 ₦) | 31,646 ₦ | + 30% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 877 B/. (334,156 ₦) | 125,257 ₦ | + 167% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 532 B/. (202,659 ₦) | 115,758 ₦ | + 75% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 79 B/. (30,157 ₦) | 21,205 ₦ | + 42% | |
| Internet 8 mbps (1 month) | 40 B/. (15,267 ₦) | 9,971 ₦ | + 53% | |
| 40” flat screen tv | 355 B/. (135,135 ₦) | 75,224 ₦ | + 80% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 108 B/. (40,992 ₦) | 31,266 ₦ | + 31% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (2,883 ₦) | 1,281 ₦ | + 125% | |
| Hourly rate for cleaning help | 5.47 B/. (2,082 ₦) | 1,000 ₦ | + 108% | |
| Clothes | + 44% | |||
| Clothes in Panama is 44% more expensive than in Nigeria | ||||
| 1 pair of jeans (levis 501 or similar) | 44 B/. (16,845 ₦) | 6,646 ₦ | + 153% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (14,355 ₦) | 11,438 ₦ | + 26% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 68 B/. (25,853 ₦) | 16,911 ₦ | + 53% | |
| 1 pair of men’s leather business shoes | 78 B/. (29,626 ₦) | 20,625 ₦ | + 44% | |
| Transportation | + 24% | |||
| Transportation in Panama is 24% more expensive than in Nigeria | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,866 B/. (7,946,971 ₦) | 7,702,020 ₦ | + 3% | |
| 1 liter (1/4 gallon) of gas | 0.70 B/. (267 ₦) | 144 ₦ | + 85% | |
| Monthly ticket public transport | 44 B/. (16,652 ₦) | 12,525 ₦ | + 33% | |
| Personal Care | + 72% | |||
| Personal Care in Panama is 72% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 11 B/. (4,297 ₦) | 1,669 ₦ | + 158% | |
| 1 box of antibiotics (12 doses) | 19 B/. (7,370 ₦) | 2,343 ₦ | + 215% | |
| Short visit to private doctor (15 minutes) | 37 B/. (13,908 ₦) | 15,181 ₦ | - 8% | |
| 1 box of 32 tampons (tampax, ob, ...) | 3.83 B/. (1,458 ₦) | 1,323 ₦ | + 10% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.02 B/. (1,152 ₦) | 902 ₦ | + 28% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.59 B/. (2,130 ₦) | 1,815 ₦ | + 17% | |
| 4 rolls of toilet paper | 2.62 B/. (998 ₦) | 354 ₦ | + 182% | |
| Tube of toothpaste | 2.90 B/. (1,104 ₦) | 520 ₦ | + 112% | |
| Standard men's haircut in expat area of the city | 14 B/. (5,459 ₦) | 2,337 ₦ | + 134% | |
| Entertainment | + 44% | |||
| Entertainment in Panama is 44% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 30 B/. (11,299 ₦) | 5,838 ₦ | + 94% | |
| 2 tickets to the movies | 12 B/. (4,487 ₦) | 4,253 ₦ | + 6% | |
| 2 tickets to the theater (best available seats) | 39 B/. (14,789 ₦) | 13,722 ₦ | + 8% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 54 B/. (20,520 ₦) | 27,860 ₦ | - 26% | |
| 1 cocktail drink in downtown club | 9 B/. (3,423 ₦) | 2,455 ₦ | + 39% | |
| Cappuccino in expat area of the city | 4.62 B/. (1,760 ₦) | 1,814 ₦ | - 3% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.92 B/. (1,492 ₦) | 511 ₦ | + 192% | |
| Ipad wi-fi 128gb | 537 B/. (204,644 ₦) | 163,040 ₦ | + 26% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.34 B/. (128 ₦) | 33 ₦ | + 288% | |
| 1 month of gym membership in business district | 46 B/. (17,582 ₦) | 16,561 ₦ | + 6% | |
| 1 package of marlboro cigarettes | 5.35 B/. (2,039 ₦) | 541 ₦ | + 277% | |
| TOTAL | + 43% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 1,326 prices entered by 129 different people.
These prices were last updated on March 08, 2021.
Exchange rate:
380.863
NGN
/
PAB
*
Cost of living in Panama is 43% more expensive than in Nigeria
Other Country Comparisons
- Cost of living in United Arab Emirates is 86% more expensive than in Nigeria
- Cost of living in Antigua and Barbuda is 111% more expensive than in Nigeria
- Cost of living in American Samoa is in Nigeria
- Cost of living in Angola is 67% more expensive than in Nigeria
- Cost of living in Anguilla is 121% more expensive than in Nigeria
- Cost of living in Argentina is 22% cheaper than in Nigeria
- Cost of living in Antarctica is in Nigeria
- Cost of living in Afghanistan is about the same as in Nigeria