Nigerians spends approximately $2.38 million on medical services abroad from January to June 2024, according to a statement by the Central Bank of Nigeria (CBN). The data, drawn from the bank’s sectoral utilization of foreign exchange report, highlights the ongoing reliance on foreign healthcare services.
A detailed breakdown of the spending shows that $2.3 million was used in January, with smaller amounts in the following months: $0.01 million in March, $0.05 million in May, and $0.02 million in June. Notably, there was no spending recorded in February and April.
This figure represents a significant increase of $1.69 million when compared to the $0.69 million spent in the second half of 2023. However, when compared to the first half of 2023, which saw Nigerians spending $3.13 million on medical tourism, the report reveals a $0.75 million reduction.
In response to these figures, Professor Tanimola Akande, a public health expert from the University of Ilorin, noted that the rising cost of medical tourism underscores the continued reliance on foreign healthcare, particularly among Nigeria’s elites.
He expressed concern that despite recent investments in high-end private healthcare facilities within the country, many still opt to seek treatment abroad.”Medical tourism remains a vital issue,” said Akande. “If the funds spent on seeking care outside Nigeria were redirected to improving local healthcare infrastructure, it would greatly reduce the need for medical tourism.
“President Bola Tinubu, during the inauguration of the Nigeria Sovereign Investment Authority’s healthcare expansion programme, had promised to address this challenge by retraining 120,000 frontline health workers.
The initiative is aimed at curbing the outflow of Nigerians seeking medical care overseas.Akande further emphasised the need for the government to intensify investments in quality healthcare services locally.
He also pointed to the growing brain drain in Nigeria’s healthcare sector as another challenge, emphasising the need to create an enabling environment for top-notch healthcare to thrive within the country.
As medical tourism continues to be a drain on Nigeria’s foreign exchange reserves, experts call for more robust healthcare reforms to reverse this trend and build trust in local healthcare services.
