Medical Tourism Spending Drops by 52% Under Tinubu – CBN Report
Nigeria’s expenditure on medical tourism has dropped by 52 percent since the beginning of President Bola Tinubu’s administration, according to a recent report released by the Central Bank of Nigeria (CBN).
The report, which analyzed foreign exchange outflows for healthcare-related travel between June 2023 and June 2025, revealed a significant decline in Nigerians seeking medical treatment abroad compared to previous years under former administrations.
According to the CBN’s analysis, medical tourism spending fell from an estimated $1.2 billion annually to about $576 million, marking one of the steepest drops in over a decade. The apex bank attributed the decline to the Federal Government’s renewed investment in the health sector, as well as stricter foreign exchange policies that have curtailed non-essential dollar transactions.
“The reduction reflects improved confidence in local healthcare facilities, tighter FX controls, and the introduction of special intervention funds aimed at upgrading hospitals nationwide,” the report stated.
Boost in Local Healthcare Confidence
The CBN noted that recent initiatives—such as the Presidential Initiative on Healthcare Renewal (PIHR) and the Nigerian Health Sector Reform Blueprint—have led to better medical infrastructure, staff retention, and private sector participation.
Hospitals in Lagos, Abuja, and Port Harcourt have reported increased patronage from middle- and upper-income Nigerians who would have otherwise sought treatment overseas.
“We’ve seen more Nigerians choosing local hospitals for surgeries, diagnostics, and specialized care. Improved facilities and international partnerships are boosting trust in domestic healthcare,” said Dr. Amina Balogun, a consultant physician in Abuja.
Economic and Policy Implications
Analysts say the 52 percent reduction has saved the economy hundreds of millions of dollars, easing pressure on Nigeria’s foreign reserves. However, they caution that sustaining this trend will require continuous investment and transparent regulation in the health sector.
“This decline is a positive signal for the economy. But to maintain it, Nigeria must ensure consistent medical standards, professional training, and accessible insurance schemes,” said economist Dr. Peter Adebayo.
The Federal Ministry of Health has also confirmed plans to expand medical equipment financing, promote public-private hospital partnerships, and introduce incentives for Nigerian doctors abroad to return home.
The Road Ahead
While the report celebrates progress, experts warn that certain complex treatments—such as organ transplants, cancer therapy, and advanced neurosurgery—remain largely unavailable domestically. They urged the government to prioritize technology transfer and specialist training to fully reverse medical migration.
“Nigeria has made progress, but the goal should be self-sufficiency in advanced healthcare within the next five years,” said health policy expert Dr. Ifeoma Udeh.
The CBN concluded that sustaining this trend could position Nigeria as a regional healthcare hub and reduce dependency on foreign medical systems.
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