FG targets medical tourism losses with local oncology expansion

From Adanna Nnamani, Abuja

The Federal Government has planned to halt the steady loss of billions of naira to medical tourism by stepping up investment in local oncology and specialised healthcare services in the country.

The initiative was made known when Minister of the Economy, Wale Edun, attended the signing of a healthcare investment agreement between the Nigeria Sovereign Investment Authority (NSIA), the International Finance Corporation (IFC) and MedServe in Abuja on Wednesday.

Speaking at the event, Edun said the Tinubu administration is committed to strengthening the nation’s healthcare system through increased investment and effective public-private partnerships, noting that recent budgetary gains reflect this priority.

He pointed to the expanding NSIA oncology network as proof that world-class healthcare facilities can be built and sustained in Nigeria, stressing that local capacity would create jobs, attract capital and drastically cut the country’s dependence on foreign medical treatment.

The minister described healthcare as more than a social service, calling it a key growth sector capable of boosting productivity, retaining capital within the economy and supporting long-term human capital development.

Edun also commended the IFC for its role in the deal, describing the partnership as a scalable model that blends financing with technical expertise to unlock private sector investment and widen access to quality healthcare, with additional backing from the World Bank.

He urged that the NSIA-MedServe model be replicated across other sectors of the economy, saying it offers a clear pathway to inclusive growth, stronger public services and long-term economic resilience.

The partnership, according to him, signals a bold step towards healthcare self-reliance, job creation and ending Nigeria’s massive losses to medical tourism.