Nigerians spent at least $29.29bn on foreign medical expenses during the eight years of former President Muhammadu Buhari’s administration.
This is according to a detailed analysis of data from the Central Bank of Nigeria’s quarterly statistical bulletins.
This translates to an annual spending of about $3.6bn during the review period.
The data, reviewed, shows the depth of Nigeria’s dependence on foreign healthcare services, with the CBN’s record showing a year-on-year movement of funds abroad for medical purposes amid economic downturns or dollar shortages at home.
It also highlights the irony that, despite repeated declarations by the administration to revamp the health sector and reduce capital flight, health-related foreign exchange outflows remained significant and even spiked dramatically during the latter years of Buhari’s presidency.