Medical tourism spending in Nigeria drops sharply
Nigeria’s spending on medical tourism has seen a dramatic fall, according to new data from the Central Bank of Nigeria. The figures show a steep year-on-year decrease in the amount spent by Nigerians seeking healthcare abroad. Olayemi Cardoso, Governor of the Central Bank, has also introduced new measures to improve transparency in the foreign exchange market. The decline in overseas medical spending points to changing patterns in how Nigerians access healthcare.
What we know
- Nigeria’s medical tourism spending dropped by 96.2% in the first half of 2025 compared to the same period in 2024, according to Central Bank data covering January to June of both years.
- In the first six months of 2024, spending was $2.38m, with a sharp outlay of $2.30m in January 2024.
- For the first half of 2025, spending totaled just $0.09m, with no month exceeding $0.06m.
- Olayemi Cardoso launched a new Foreign Exchange Code in January 2025 to strengthen transparency and accountability in the FX market.
- The sustained decline in medical tourism spending suggests a shift in outbound medical travel, possibly due to tighter foreign exchange conditions or increased domestic healthcare use.
