Over a six-month period, CBN reported that expenditures on overseas medical and school bills amounted to $1.58 billion

Date:

Nigerians channeled $1.58 billion into health tourism, foreign education, and personal expenditures in the first half of 2023, as per data from the Central Bank of Nigeria.

Breakdown reveals $245.68 million on overseas health matters, $896.09 million on foreign education, and $434.63 million on various personal needs abroad.

The nation grapples with challenges in health infrastructure, prompting citizens to seek services overseas.

Experts highlight the strain on foreign exchange and emphasize the need for improved domestic health facilities. Efforts are underway to curb medical tourism, including legislative measures imposing penalties.

Despite allocating N1.33 trillion to the health sector in the 2024 budget, challenges persist.

Migration for education continues, with the number of Nigerian students in the United States rising, and expenditures on foreign education reaching $1.01 billion in 2022.

 

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