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