Panama is a village in Lancaster County, Nebraska, United States. It is part of the Lincoln, Nebraska Metropolitan Statistical Area. The population was 235 at the 2020 census.

Lancaster County is a county located in the U.S. state of Nebraska. As of the 2020 United States Census, the population was 322,608, making it the second-most populous county in Nebraska. Its county seat is Lincoln, the state capital. The county was created in 1859.