{"id":2996,"date":"2022-10-14T07:32:55","date_gmt":"2022-10-14T07:32:55","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=2996"},"modified":"2022-10-14T07:32:55","modified_gmt":"2022-10-14T07:32:55","slug":"nigerians-foreign-medical-spending-crashes-by-65","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/nigerians-foreign-medical-spending-crashes-by-65\/","title":{"rendered":"Nigerians\u2019 foreign medical spending crashes by 65%"},"content":{"rendered":"

Nigerians spent a sum of $185 million on foreign (medical) health services in the first half of 2022, falling by 65% compared to $528 million<\/strong> recorded in the corresponding period of 2021. <\/span><\/p>\n

This is according to data included in the country\u2019s balance of payment breakdown, obtained from the Central Bank of Nigeria.<\/strong><\/span><\/p>\n

The balance of payment (BOP) breaks down the total amount of forex inflows and outflows in a country wherein a positive balance indicates a current account surplus and a negative current account deficit.<\/p>\n

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The $185 million stated, represents the total outflow of <\/span>forex officially incurred for health services.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

Breakdown of Spend on Healthcare Services<\/strong><\/h3>\n

While the amount dropped compared to the corresponding period of 2021, it however increased by 113.1% compared to N86.9 million that was spent in the second half of last year.<\/span><\/p>\n