NSIA's Healthcare Investments Save $200M in FX Outflows

The Nigeria Sovereign Investment Authority (NSIA) has announced that its healthcare investments have prevented more than $200 million in foreign-exchange outflows associated with overseas medical treatment. This initiative is part of NSIA's strategy to expand its healthcare network through NSIA Advanced Medical Services Ltd. (MedServe), which will establish 19 new facilities across 13 states, including 13 diagnostic centres, three oncology centres, and three cardiac catheterisation laboratories.

MedServe, NSIA's wholly owned healthcare subsidiary, aims to build domestic capacity in specialized healthcare and reduce reliance on foreign medical treatment. The flagship facility, the MedServe–LUTH cancer centre in Lagos, commissioned in May 2019, was the first in Nigeria to offer 3D Conformal Radiotherapy and has since provided over 25,000 radiotherapy sessions and 10,000 chemotherapy treatments.

The NSIA's interventions have not only retained foreign exchange within Nigeria but have also reversed medical tourism, with treatment costs significantly lower than those abroad.