PanamaNigeria
Panama has a population of 4.1M, compared to Nigeria's 223.8M. Nigeria is 55.1 times more populous than Panama. Economically, Nigeria ($252.3B) has a GDP 2.9 times larger than Panama's ($86.5B). Nigeria covers 923,768 km², 12.2 times larger than Panama's 75,417 km². Life expectancy in Panama stands at 79.6 years, 25.1 years higher than Nigeria's 54.5 years.
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Metric
PanamaNigeria| Population | 4.1M | 223.8M |
| Area | 75,417 km² | 923,768 km² |
| GDP | $86.5B | $252.3B |
| GDP Per Capita | $19,161.219 | $1,084.16 |
| Life Expectancy | 79.6 yrs | 54.5 yrs |
| Infant Mortality | 10.6 | 60.1 |
| Literacy Rate | — | — |
| Unemployment | 8.4% | 3.1% |
| Capital | Panama City | Abuja |
| Region | Americas | Africa |
| Languages | Spanish | English |
| Currencies | PAB (B/.), USD ($) | NGN (₦) |
Last updated: April 2026
All data sourced from World Bank Open Data (2025) and REST Countries API. Economic data may reflect most recent available year.
Population Comparison
Nigeria is 55.1 times more populous than Panama, with 223.8M residents compared to 4.1M. Panama is a nation of 4.1M people, while Nigeria is among the world's 15 most populous countries. In terms of population density, Panama averages 54 people per km² (moderate), while Nigeria averages 242 people per km² (dense). While Panama has grown at 1.54% annually over the past decade, Nigeria has grown at 2.33% per year over the same period.
Economy Comparison
Panama is classified as a high-income economy, while Nigeria is classified as a low-income economy. The Nigeria economy ($252.3B) is 2.9 times larger than Panama's ($86.5B). Panama's GDP per capita of $19,161.219 is 42% above the regional average of 13,500 for Americas. Nigeria's GDP per capita of $1,084.16 is 51% below the regional average of 2,200 for Africa. On a per-capita basis, residents of Panama are on average 17.7 times wealthier than those in Nigeria.
Health & Quality of Life
Life expectancy in Panama is 79.6 years, compared to 54.5 years in Nigeria, a gap of 25.1 years. Panama (79.6 years) is 7.6 years above the global average of 72 years, while Nigeria (54.5 years) is 17.5 years below the global average of 72 years. At 60.1 deaths per 1,000 live births, Nigeria's infant mortality is 467% higher than Panama's 10.6.
Geographic Comparison
Nigeria (923,768 km²) is 12.2 times larger by land area than Panama (75,417 km²). Panama shares borders with 2 countries, while Nigeria borders 4 countries. Panama spans 1 timezone, compared to Nigeria's 1 timezone. Panama lies in North America, while Nigeria is located in Africa. Panama is categorized within the Americas region (Central America), whereas Nigeria belongs to Africa (Western Africa).
Key Differences
The most significant difference between Panama and Nigeria is in population: Panama's 4.1M compared to Nigeria's 223.8M represents a 98% gap. The most significant difference between Panama and Nigeria is in GDP per capita: Panama's $19,161.219 compared to Nigeria's $1,084.16 represents a 94% gap. The most significant difference between Panama and Nigeria is in land area: Panama's 75,417 km² compared to Nigeria's 923,768 km² represents a 92% gap. These disparities reflect the broader structural differences between Panama's high-income economy and Nigeria's low-income economy.
At a Glance: What the Numbers Mean
Living Standards
Panama has a GDP per capita of $19,161.219, which is 17.7x that of Nigeria ($1,084.16). This gap reflects differences in economic development, industrial structure, and workforce productivity. In practical terms, average purchasing power in Panama is significantly higher, though cost of living differences partially offset the raw income gap.
Population Density
Nigeria is 4.5x more densely populated than Panama (242 vs 54 people per km²). Higher density typically correlates with more urbanization, greater demand for public transit, and higher housing costs. Panama's lower density suggests more rural land use and potentially lower urban congestion.
Healthcare and Longevity
Citizens of Panama live an average of 25.1 years longer than those of Nigeria (79.6 vs 54.5 years). This gap reflects differences in healthcare access, nutrition, public health infrastructure, and environmental factors. This is a substantial gap that suggests significant differences in healthcare systems and overall living conditions.
Economic Momentum
Nigeria's economy grew at 4.1% compared to Panama's 2.7%. Both countries show healthy growth, though Nigeria has a modest edge in economic dynamism.
Travel Comparison
Panama vs Nigeria for Families
For family travel, Panama generally edges ahead due to lower infant mortality (10.6 vs 60.1 per 1,000), which is a useful proxy for healthcare infrastructure and child safety. Nigeria offers its own advantages, including more geographic diversity for road trips. Both countries have family-friendly attractions, though Panama's higher GDP per capita typically correlates with better tourist infrastructure, public transport, and English-language availability.
Panama vs Nigeria for Budget Travelers
Nigeria is typically the more budget-friendly destination, with a GDP per capita of $1,084.16 translating to lower prices for accommodation, food, and local transport. Budget travelers in Nigeria can expect to spend significantly less per day than in Panama. However, Panama may offer better value in specific categories such as intercity transport or package deals. Shoulder season travel in either country helps reduce costs further.
Panama vs Nigeria for Retirees
Panama's life expectancy of 79.6 years suggests stronger healthcare infrastructure, which is a key factor for retirees. Nigeria may offer a lower cost of living, which stretches pension income further. Key considerations for retirees include visa and residency requirements, healthcare access, climate preferences, and proximity to international airports. Both countries have established expat communities, though the specific visa options and healthcare quality vary by region within each country.
Panama vs Nigeria Cost of Living
Panama's GDP per capita is 17.7x that of Nigeria, which generally correlates with a higher cost of living. Housing, dining out, and services tend to be more expensive in Panama, while Nigeria offers more purchasing power per dollar for everyday expenses. However, cost of living varies significantly by city within each country. Major urban centers in Nigeria can approach or exceed average costs in Panama's smaller cities.
Panama vs Nigeria for Digital Nomads
For digital nomads choosing between Panama and Nigeria, key factors include internet infrastructure, visa policies, cost of living, and timezone compatibility with clients. Panama spans 1 timezone while Nigeria covers 1. Nigeria's lower cost of living makes it attractive for stretching remote income. Both countries have growing digital nomad communities, though specific visa requirements for remote workers differ and should be verified before committing to a longer stay.
Frequently Asked Questions
Which is bigger, Panama or Nigeria by population?
Nigeria is larger by population, with 223.8M residents compared to Panama's 4.1M. Nigeria is 55.1 times more populous than Panama.
Which country has a higher GDP, Panama or Nigeria?
Nigeria has the higher GDP at $252.3B, compared to Panama's $86.5B. Nigeria's economy is 2.9 times larger.
How does life expectancy compare between Panama and Nigeria?
Panama has a higher life expectancy at 79.6 years, compared to Nigeria's 54.5 years. The gap between the two countries is 25.1 years. Panama's life expectancy is 7.6 years above the global average of 72 years, while Nigeria's is 17.5 years below the global average of 72 years.
Which country is larger by area, Panama or Nigeria?
Nigeria is larger by land area, covering 923,768 km² compared to Panama's 75,417 km². Nigeria is 12.2 times larger than Panama.
What languages are spoken in Panama and Nigeria?
Panama recognizes the following official language: Spanish. Nigeria recognizes: English. The two countries do not share an official language.
Which country has lower inflation, Panama or Nigeria?
Panama has lower inflation at 0.7%, compared to Nigeria's 33.2%. Panama's inflation is within the 2-3% range considered stable by most central banks, while Nigeria's rate is severely elevated at 33.2%, a rate that erodes household purchasing power.
Is Panama or Nigeria better for a family holiday?
For family travel, Panama generally edges ahead due to lower infant mortality (10.6 vs 60.1 per 1,000), which is a useful proxy for healthcare infrastructure and child safety. Nigeria offers its own advantages, including more geographic diversity for road trips. Both countries have family-friendly a...
Is Panama or Nigeria cheaper to visit?
Nigeria is typically the more budget-friendly destination, with a GDP per capita of $1,084.16 translating to lower prices for accommodation, food, and local transport. Budget travelers in Nigeria can expect to spend significantly less per day than in Panama. However, Panama may offer better value in...
Is Panama or Nigeria better for retirement?
Panama's life expectancy of 79.6 years suggests stronger healthcare infrastructure, which is a key factor for retirees. Nigeria may offer a lower cost of living, which stretches pension income further. Key considerations for retirees include visa and residency requirements, healthcare access, climat...
Is Panama or Nigeria more expensive to live in?
Panama's GDP per capita is 17.7x that of Nigeria, which generally correlates with a higher cost of living. Housing, dining out, and services tend to be more expensive in Panama, while Nigeria offers more purchasing power per dollar for everyday expenses. However, cost of living varies significantly ...
Is Panama or Nigeria better for digital nomads?
For digital nomads choosing between Panama and Nigeria, key factors include internet infrastructure, visa policies, cost of living, and timezone compatibility with clients. Panama spans 1 timezone while Nigeria covers 1. Nigeria's lower cost of living makes it attractive for stretching remote income...
Population Growth
Panama, 1994 to 2023
Population Growth
Nigeria, 1994 to 2023