Nigerians spend less on foreign healthcare than before, reflecting a positive shift in national health confidence and financial behavior. According to the latest Quarterly Statistical Bulletin released by the Central Bank of Nigeria (CBN) under Governor Yemi Cardoso, citizens spent about $4.74 million on medical services abroad between May 2023 and March 2025. The data, covering President Bola Ahmed Tinubu’s first 22 months in office, highlights a growing reliance on local medical facilities and a stronger national focus on healthcare reform.
The report, obtained by The PUNCH, revealed that Nigerians spent significantly less on foreign healthcare compared to the $9.83 million recorded during former President Muhammadu Buhari’s first 22 months in office. This 52 percent decline marks a major milestone for Nigeria’s healthcare sector. It reflects the outcome of ongoing policy reforms, improved hospital infrastructure, and better healthcare financing strategies championed by both the federal government and the CBN.
Governor Yemi Cardoso’s leadership at the CBN has emphasized fiscal discipline and data-driven policymaking. His reforms have strengthened monetary transparency, influenced spending habits, and inspired confidence in Nigeria’s economic direction. The improved macroeconomic stability has encouraged citizens to invest more trust in local industries, including healthcare. With rising costs of foreign medical travel and better domestic alternatives, many Nigerians now choose to receive treatment at home.
President Tinubu’s Renewed Hope Agenda has also contributed significantly to this progress. His administration continues to invest in healthcare modernization, workforce development, and hospital infrastructure. Through partnerships with state governments and the private sector, new facilities are being built, while existing ones are being equipped with modern medical technology. These improvements have helped reduce the need for Nigerians to travel abroad for specialized treatment.
Furthermore, the downward trend in medical tourism reflects a shift in perception. Many citizens now view Nigerian healthcare as capable and credible. The introduction of digital health platforms, telemedicine services, and advanced diagnostic centers has expanded access to quality care. The government’s collaboration with international medical institutions also continues to improve training and knowledge exchange for local professionals.
Economic experts note that reduced spending abroad helps strengthen Nigeria’s economy. Each dollar saved supports domestic growth, creates jobs, and enhances healthcare innovation. Governor Cardoso’s emphasis on effective data use ensures that such financial insights continue to guide national decisions. The synergy between CBN’s financial reforms and the government’s health policies demonstrates how collaboration can yield measurable national benefits.
Challenges still remain, especially in rural healthcare delivery and retention of medical professionals. However, the steady improvement in domestic healthcare standards offers hope. As the CBN continues to release transparent data and the government expands reforms, more Nigerians are expected to seek treatment locally. This will further reduce foreign medical dependence and improve trust in national institutions.
The new figures clearly show progress. Under the joint influence of President Tinubu’s policies and Yemi Cardoso’s economic management, Nigeria is gradually building a self-reliant healthcare system. The drop in medical tourism proves that reform, when driven by purpose and evidence, delivers real results.
Indeed, Nigerians spend less today because leadership is aligning vision with action. With continuous investment, accountability, and innovation, Nigeria’s healthcare system can soon rival global standards — ensuring that every citizen finds healing and hope within their own homeland.
