The Nigerians spent $ 2.41 million for medical tourism in 2024 – CBN report

The Nigerians spent a total of $ 2.41 million in medical tourism in 2024, indicating a significant drop compared to the 3.82 million dollars spent in 2023, learned Punch on Saturday.

The data, coming from the sectoral use report of the Nigeria Central Bank for transactions valid for changes, show a drop of 36.91 percent of year in the year in the amount that the Nigerians have spent on medical care abroad.

A distribution of the report revealed that the Nigerians spent $ 2.38 million in services relating to health abroad between January and June 2024. On the contrary, the figure for the second half of the year was canceled at $ 0.03 million.

In particular, in January 2024 alone, $ 2.30 million were spent, taking into account most annual expenses.

The following months saw a drastic reduction: February did not record expenses, March saw $ 10,000, April had no one, while May and June recorded $ 50,000 and $ 20,000 respectively.

In the second half of the year, no foreign medical expenses were recorded in July, August and October. September represented $ 10,000 and the same amount was recorded both in November and in December.

In comparison, the 2023 data showed a more coherent monthly spending model. January, February and March 2023 recorded $ 340,000 respectively, $ 320,000 and $ 380.000.

The figures peaks in May 2023 with $ 1.28 million and closed the year to $ 280,000 in December.

Healthcare experts have connected the decline of foreign medical expenses to a combination of factors, including Naira’s volatility, the most severe forex policies and possibly better access to local health services in selected urban centers.

However, critics argue that the decrease may not necessarily reflect a better health delivery in Nigeria, but rather growing difficulties in accessing changes to treatment abroad.

The persistent trend of medical tourism has long attracted criticism from the interested parties who claim that investments in the national health sector would reduce the need for outgoing medical trips, save changes and increase public confidence in local medical institutions.

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