Based on the latest Quarterly Statistical Bulletin of the Central Bank of Nigeria, Nigerians spent about $4.74 million on foreign healthcare-related services from May 2023 to March 2025, according to findings by The PUNCH.
This amount represents the total spending on medical tourism during President Bola Tinubu’s first 22 months in office.
A comparative analysis of the data reveals a significant reduction in foreign healthcare spending, reflecting tighter foreign exchange controls and possibly increased local treatment options.
The $4.74 million spent during President Tinubu’s first 22 months represents a 52 per cent decline from the $9.83 million recorded during President Muhammadu Buhari’s first 22 months in office (May 2015 to February 2017).
The CBN report showed that from May to December 2023, spending on medical tourism totalled $2.28 million.
A monthly breakdown for that period showed that Nigerians spent $1.28 million in May, $0.31 million in June, $0.01 million in July, $0.26 million in August, $0.02 million in September, $0.10 million in October, $0.02 million in November, and $0.28 million in December.
In 2024, the total spending on medical tourism fell further, totaling $2.40 million for the year. Nigerians spent $2.30 million in January, while no expenditure was recorded in February.
In March, $0.01 million was spent, followed by $0.00 million in April, $0.05 million in May, $0.02 million in June, and $0.00 million in both July and August. In September, $0.01 million was spent, with $0.00 million recorded in October.
In November, spending was $0.01 million, and in December, $0.00 million was recorded.
Early 2025 figures show that spending on medical tourism remained very low, with Nigerians spending $0.06 million in January, while no expenditure was recorded in February and March.
In contrast, during President Buhari’s first 22 months in office, from May 2015 to February 2017, Nigerians spent about $9.83 million, with monthly spending ranging from $0.08 million in October 2016 to a peak of $3.20 million in September 2015.
Specifically, in 2015, spending was $0.11 million in May, $0.23 million in June, $0.23 million in July, $0.29 million in August, $3.20 million in September, $0.26 million in October, $0.33 million in November, and $0.44 million in December.
The following year, in 2016, spending was $0.35 million in January, $0.38 million in February, $0.96 million in March, $0.67 million in April, $0.46 million in May and June, and $0.21 million in July, August, and September.
In October, spending was $0.08 million, $0.10 million in November, and $0.13 million in December.
In early 2017, Nigerians spent $0.18 million in January and $0.34 million in February.
Recently, the Nigerian Academy of Medicine expressed concern over the high rate of medical tourism, noting that Nigerians spend more than $1 billion annually on healthcare abroad, a trend it said continues to drain the nation’s foreign exchange and undermine investment in local health infrastructure.
