Published on
January 3, 2026

The medical tourism industry in Nigeria has witnessed a steep decline, with expenditures relating to international medical tourism dropping by no less than 96.2% in the first half of 2025 compared to a previous year (2024) figure. The drastic decline has prompted concerns over what seems to be a shift in Nigeria’s medical tourism trends. This has been reflected in a report published recently by the Central Bank of Nigeria, indicating a drastic change in how Nigerians engage with international health services.

Medical Tourism Spending in 2024 vs. 2025

According to the CBN’s report, medical tourism spending in the first half of 2024 stood at $2.38 million, with a sharp surge of $2.30 million recorded in January alone. However, the following months showed a notable decrease, with figures dropping to almost nothing in subsequent months: $0.00 million in February, $0.01 million in March, and only slight increases in May and June. Despite these fluctuations, the total spending for the first half of 2024 remained relatively higher, driven by initial spikes early in the year.

In contrast, medical tourism spending during the first half of 2025 amounted to just $0.09 million, which marks a drastic reduction compared to the $2.38 million recorded in 2024. While January 2025 saw $0.06 million in spending, the following months continued to show minimal expenditure, with many months seeing no significant outflows at all. This drop reflects a shift in both the frequency and the volume of medical travel, suggesting a substantial change in how Nigerians are approaching healthcare abroad.

A Sharp Decline: Year-on-Year Comparison

When comparing the first halves of 2024 and 2025, the figures reveal an eye-watering contraction of $2.29 million, a staggering 96.2% decrease in medical tourism expenditure. The drastic drop in spending is indicative of a larger trend in the Nigerian medical tourism landscape, with fewer people opting to travel abroad for medical treatments.

The decline in spending could be attributed to several factors, with economic pressures and tighter foreign exchange conditions likely playing a central role. While 2024 saw a brief surge in medical tourism, particularly in January, the overall trend in 2025 was one of a sharp decline, suggesting that the initial increase was likely driven by temporary factors, such as changes in currency values or other external pressures.

Economic Factors and Tightened Foreign Exchange Conditions

One of the most significant factors contributing to the reduction in medical tourism spending is Nigeria’s economic climate, particularly the impact of the country’s foreign exchange policies. In January 2025, the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, introduced a new Foreign Exchange (FX) Code aimed at improving transparency and accountability in the FX market. This new policy seeks to strengthen market integrity by creating clear and enforceable standards for ethical conduct, which is a response to past challenges related to foreign exchange in Nigeria.

Mr. Cardoso emphasized that the era of multiple exchange rates and unethical financial practices must come to an end, which could have contributed to the tightening of access to foreign currency for Nigerians. The high cost of securing foreign exchange, combined with stricter regulations, may have deterred many Nigerians from pursuing medical treatments abroad, opting instead for domestic healthcare solutions.

The limitations on foreign currency availability are especially significant for medical tourism, where patients often need access to international currencies to pay for treatments abroad. The increased difficulty in obtaining foreign currency is likely to be one of the key factors responsible for the sharp drop in medical tourism spending.

Shifting Domestic Healthcare Utilization

Another contributing factor to the decline in medical tourism is the growing reliance on domestic healthcare services. Over recent years, Nigeria has seen significant improvements in its local healthcare infrastructure, with new hospitals and medical facilities opening across the country. With these advancements, many Nigerians who previously sought treatment abroad may now feel more confident in receiving care within their own borders. Additionally, the rise of telemedicine and other digital health services may have also played a role in reducing the need for overseas medical travel.

The trend toward increased domestic healthcare utilization reflects a broader shift in Nigerian society, as more people turn to local solutions for their medical needs. For some, the cost of traveling abroad, combined with the challenges of securing foreign exchange, may outweigh the benefits of seeking treatment outside the country. Furthermore, local medical facilities may offer more affordable or accessible alternatives, making it easier for Nigerians to stay within the country for their healthcare needs.

Impact on the Nigerian Medical Tourism Industry

The dramatic decline in medical tourism spending will have ripple effects across various sectors, including the travel, healthcare, and hospitality industries. Nigerian hospitals and healthcare providers may face reduced pressure to compete with international medical facilities, but this could also limit their potential for attracting medical tourists from other countries. On the other hand, the decline in outbound medical travel may open up opportunities for the growth of medical tourism within Nigeria, provided that the country continues to invest in improving its healthcare infrastructure and services.

The reduction in spending also presents challenges for the travel industry, as medical tourism has long been a key driver of outbound travel. Airlines, travel agencies, and other stakeholders in the travel sector may see a decrease in bookings related to medical travel, impacting their revenue streams. Additionally, countries that have traditionally been popular destinations for Nigerian medical tourists—such as India, the UAE, and South Africa—could experience a slowdown in the number of Nigerians seeking medical care abroad.

Policy Implications and Future Outlook

The significant decline in medical tourism spending in Nigeria raises questions about the future of both the domestic and international medical travel sectors. Policymakers and stakeholders in the healthcare and travel industries will need to reassess their strategies to address the evolving needs of Nigerian medical tourists.

In the short term, the decline in outbound medical tourism spending suggests that economic conditions, coupled with a shift toward domestic healthcare, will continue to shape the medical tourism landscape. Over time, however, Nigeria’s improving healthcare infrastructure and the potential for increased investment in the sector could help reverse the trend and attract more medical tourists to the country.

The Decline of Nigerian Medical Tourism and Its Broader Implications

The dramatic cut in medical tourist spending in Nigeria in 2025 is one such indicator that clearly highlights the economic struggles the nation is currently facing. The fact that there’s been such a dramatic cut in spending of well over 96% from the previous year indicates that it has become very difficult for Nigerians to travel for medical care. Although such a decline in spending will be challenging for the medical tourist market, there are opportunities for growth in the Nigerian medical market as long as the progress continues.

The future of medical tourism for the country may lie in its ability to build a sound healthcare delivery system, as well as work on making it affordable and accessible to Nigerians who might otherwise travel to other countries for treatment if it were not for the costs involved.