The hidden economics of medical tourism: Why Nigeria is losing value, and how It can reclaim it

    Oluyemi Adeosun | Insights | Feb 03, 2026    
Get Unlimited Access
Subscribe to unlock this article

Complete digital access to quality journalism on any device. Cancel anytime during your trial.

Once registered, you can:

  • Read this article and many more, including access to epapers and research
  • Enjoy customize article feed/recommendation based on your profile
  • Enjoy access to Businessday exclusive events
  • One-Access accross Businessday platforms

Share this article
Shared
4373
times

Medical tourism is often reduced to images of patients flying abroad in search of better hospitals or specialised doctors. That framing misses the bigger economic picture. At its core, medical tourism is a trade in services, a generator of foreign exchange, and a powerful test of institutional trust. It activates entire value chains—aviation, hospitality, insurance, logistics, retail, and professional services—well beyond the hospital gate. Countries that understand this treat healthcare not only as a social obligation but as an export industry. Nigeria, despite its scale, talent pool, and regional influence, remains largely absent from this space. The result is a quiet but persistent drain on foreign exchange and domestic capacity. Every year, healthcare-related spending that could have supported local jobs and infrastructure instead strengthens other economies. Seen this way, medical tourism is not a niche issue. It is a macroeconomic story about competitiveness, confidence, and the ability of a nation to convert human needs into economic opportunity.

Continue reading your article with a
BusinessDay subscription





Already a subscriber?
Sign In
RECOMMENDED STORIES
support_agent