Nigeria’s Medical Tourism Bill Plunges by 96% — CBN

Nigeria’s spending on medical tourism fell by an unprecedented 96 per cent last year, according to figures released by the Central Bank of Nigeria. The apex bank described the development as a major structural shift in the country’s healthcare and foreign exchange dynamics, marking a sharp reversal from years of heavy reliance on overseas medical treatment.

The CBN linked the steep decline to the implementation of President Bola Ahmed Tinubu’s National Health Sector Renewal Investment Initiative, which prioritises domestic healthcare capacity, private sector participation, and targeted public investment. The bank said these reforms have significantly reduced the volume of foreign exchange previously spent by Nigerians seeking treatment abroad.

According to the central bank, improved funding for public hospitals, expanded diagnostic and surgical capacity, and deliberate efforts to upskill medical professionals have strengthened confidence in local healthcare delivery. This, it noted, has enabled more Nigerians to access routine and complex medical care within the country.

The apex bank further disclosed that Nigeria is increasingly attracting medical tourists from the diaspora and other countries, a trend that is helping to boost foreign exchange inflows. Patients from wealthier jurisdictions are reportedly seeking more affordable and timely care in Nigeria, particularly in specialised fields where local practitioners now operate with modern equipment and global-standard expertise.

The growing demand has also translated into better remuneration and professional opportunities for doctors and healthcare workers practicing in Nigeria. The CBN said the improved ecosystem is helping to slow medical brain drain while encouraging collaboration between local hospitals and international health organisations.

In addition, the bank highlighted the impact of expanded health insurance coverage and government-backed medical subsidy programmes for vulnerable citizens. It added that partnerships between Nigerian hospitals and global health-focused NGOs are attracting grants that further reduce treatment costs for low-income patients, reinforcing the shift towards a more sustainable and inclusive healthcare system.