Nigeria is losing an estimated $1.1 billion each year to medical tourism, according to the African Export-Import Bank (Afreximbank). This figure, revealed during the 32nd Afreximbank Annual Meetings in Abuja, underscores a significant drain on the country’s foreign exchange and presents a major challenge to the growth and development of its healthcare system.
Mrs Oluranti Doherty, Managing Director of Afreximbank’s Export Development Division, disclosed that the continued reliance on foreign medical services is stalling investment in local healthcare infrastructure, and severely impacting the broader Nigerian economy. “We had our member countries losing a lot of foreign exchange to medical tourism,” Doherty said, referring to the broader context across Africa. “Nigeria alone loses about $1.1 billion annually, and the entire continent loses approximately $7 billion. This is because we are unable to provide adequate care for chronic diseases locally. The money spent on medical tourism goes to other countries, building their institutions,” she added.
The capital flight due to medical expenses abroad represents missed opportunities for domestic investment in critical sectors, including healthcare. Additionally, the migration of skilled healthcare workers overseas has further exacerbated the challenges facing Nigeria’s medical industry, as Doherty pointed out, “The best of talents in the health sector were going out of the continent, working in places such as India, Asia, the Middle East, and America, and that often was an issue.”
In response to this issue, Afreximbank launched its Health and Medical Tourism Programme in 2012. Recognising the direct connection between healthcare and economic development, the bank pioneered efforts to address these challenges. A notable initiative under this programme is the Africa Medical Center of Excellence (AMCE), located in Abuja. The AMCE is a state-of-the-art 170-bed facility equipped with cutting-edge medical technology, including an 18 MeV cyclotron, a three-Tesla MRI, and a 20-bed intensive care unit. Afreximbank has committed over $450 million to the project, positioning the AMCE as a flagship intervention in the drive to reduce medical tourism.
“Afreximbank had to go where no one has gone before,” Doherty remarked. “We recognised this issue early, and we set about doing something about it. The AMCE aims to provide healthcare services that meet global standards—not just African standards. Africans must find solutions to our own challenges,” she added.
Doherty emphasised the need for a renewed focus on rebuilding trust in domestic healthcare systems. She called for policies that ensure high-quality care is accessible locally, to stem the tide of medical tourism. “The goal is to reverse the flow of medical expenses and allow funds to be invested back into the country, building a robust local healthcare sector,” she concluded.