•Education-related travel gulps $2.84bn   

•Foreign airlines dominate travel tickets  

 •This highlights systemic failures – experts

By Babajide Komolafe, Economy Editor & Dickson Omobola

Nigerians spent $5.996 billion on airline tickets for foreign travels in 2025, a 32 per cent rise, year-on-year, YoY, amid increases in education related travels and a surge in international business engagements.

Other increases are in connection with medical tourism and personal travels.

Meanwhile, aviation industry experts said the sharp rise in foreign travel spending underscores deep structural weaknesses in Nigeria’s economy, education, healthcare and tourism sectors, warning that unless urgent reforms are implemented, the country would continue to lose huge foreign exchange to overseas medicals, education and tourism-related services. 

They specifically called for massive investment in infrastructure, improved security, stronger support for local airlines, and comprehensive reforms in the health and tourism sectors to reduce pressure on foreign travel spending. 

Data obtained by Financial Vanguard from the Central Bank of Nigeria, CBN, showed that total foreign travel expenditure rose to $5.996 billion in 2025 from $4.544 billion in 2024.

Analysis of the quarterly data showed that spending growth was concentrated largely in the first nine months of the year before moderating in the final quarter. Quarter-on-quarter, total travel spending rose by 33.2 per cent in Q2’25 and by 7.0 per cent in Q3’25 before declining by 31.6 per cent in Q4’25.

In Q1’25 Nigerians spent $1.267 billion on foreign travel, representing a 20.2 per cent increase from $1.054 billion recorded in the corresponding period of 2024,  Q1’24.

The second quarter, Q2’25  recorded a much sharper increase as spending shot up  to $1.688 billion from $1.096 billion in Q2’24, representing a 54.0 per cent YoY increase, while Q3’25  expenditure reached the yearly peak of $1.806 billion compared with $1.175 billion in Q3’25, indicating a 53.7 per cent YoY increase.

However, growth moderated significantly in Q4’25 as total expenditure stood at $1.235 billion, only 1.3 per cent higher than the $1.219 billion recorded in Q4’24.

Education related travels

Sectoral breakdown shows that despite the slowdown in Q4’25, education-related travel remained the single largest component of foreign travel spending by Nigerians.

According to the CBN, Nigerians spent $2.845 billion on foreign education-related expenses in 2025, indicating a 14.5 per cent increase against $2.484 billion in 2024.

In Q1’25 Nigerians spent $592.71 million on foreign education travel, up by 6.0 per cent YoY from $559.16 million in Q1’24. 

The figure rose sharply by 33.1 per cent YoY to $800.16 million in Q2’25, from $601.10 million in Q2’24. The upward trend persisted in Q3’25, by another 33.1 per cent YoY increase to $880.17 million in Q3’25, from $661.21 million in Q3’24.

However, spending on education-related travel dropped to $572.11 million in  Q4’25, representing a 13.6 per cent decline from  the $662.38 million in Q4’24.

Business travels 

Business travel spending rose to $231.75 million in the Q1’25 from $77.33 million in Q1’24 representing a 199.7 per cent YoY increase.

In Q2’25, expenditure on business trips jumped by 403.1% YoY to $234.56 million from $46.62 million in Q2’24, while Q3’25 spending surged 924% to $207.26 million compared with only $20.24 million Q3’24.

Similarly, Q4’25 business travel expenditure rose to $171.88 million from $36.61 million in Q4’24, indicating a 369.5 per cent YoY increase.

Medical travels

Medical-related travel expenditure also increased significantly, rising to $684.72 million in 2025 from $643.15 million in 2024, indicating a 6.5 per cent YoY increase. 

Medical-related travel also recorded increases in the first three quarters before declining in the final quarter.

In Q1’25, medical travel expenditure rose to $151.53 million from $142.95 million in Q1’24, representing a 6.0 per cent YoY increase, while Q2’25  spending increased to $189.41 million from $153.67 million Q2’24, indicating a 23.3 per cent YoY rise.

In Q3’25, medical travel expenditure rose further to $208.35 million from  $169.04 million in Q3’24, also representing a 23.3 per cent YoY increase, before declining by 23.7 per cent, YoY to $135.43 million in Q4’25 from  $177.49 million recorded in Q4’24.

Personal travels

Meanwhile, expenditure under personal travel for tourism and other purposes remained elevated throughout the year. It rose by 31.3 per cent YoY to $1.62 billion in 2025 from $1.235 billion in 2024 

This category rose to $290.65 million in the Q1’25 from $274.19 million in Q1’24, representing a 6.0 per cent YoY increase. It rose further to  $463.86 million in Q2’25  from $294.76 million in the Q2’24, representing a 57.4 per cent YoY increase, and peaked at $510.25 million in  Q3’25 up from  $324.24 million in Q3’24, also representing 57.4 per cent YoY increase. This trend continued Q4’25, with a further increase of 3.8 per cent, YoY   to $355.53 million from $342.56 million in Q4’24.  

Experts’ comments

Commenting on the development, Director of Research at Zenith Travels and Consult Ltd, Mr. Olumide Ohunayo, said foreign airlines remained the major beneficiaries of the surge in overseas travel by Nigerians.

He stated: “The major beneficiaries of the increased foreign travel are the foreign airlines. For the majority of the flights, we only have Air Peace on the international route, while on the West Coast route, we have our airlines and some other African airlines competing.

“Major beneficiaries are Ethiopian Airlines. Even Air Maroc, which maltreated Nigerian passengers, was fully booked. It shows that there is the potential of a strong national carrier or flag carrier for us, especially if we are able to put that together and get strong airlines to operate out of Nigeria.”

He added: “As foreign airlines benefited, so also did their ecosystem, the hotels and all.”

Speaking on the development, Ohunayo blamed the rising education-related travel on the declining focus on local institutions.

He said: “Most of the institutions are just out to make money rather than providing educational services because almost all the courses you see everywhere are what they are offering.

“Some of the private institutions that are providing specialised courses now, the cost of the tuition fees is almost at par with those outside the country. They practically put their fees in dollars, or convert from dollars directly.”

He added: “I think, just like for the airlines, they should suspend issuance of licences for new universities, except if it is a specialised one that we do not have in the country.”

Also speaking, Chief Executive Officer of Belujane Konzult, Mr. Chris Aligbe, said the declining standard of education in Nigeria was worsening the pressure on foreign exchange.

According to him, “People no longer rely on what we produce from that sector. Standards are now being questioned, and it was not like that in the past.

“When we were in school, people came from outside the country to attend our universities. However, it is no longer the situation. Until we improve that sector, which will take quite a long time, we may never return to those days.”

Commenting on rising medical tourism, Ohunayo said the country must urgently address infrastructure challenges and insecurity.

“We just need to build infrastructure. Power is in shambles at the moment, making the cost of providing those services by organisations more expensive. Again, there’s insecurity that has not allowed our core professionals to come back home to work. We need to correct some of these errors,” he said.

According to him, “The most important thing is power. Other things include provision of infrastructure, taxes to encourage new companies and, generally, securing lives and properties.”

He further stated: “You will find that they put their bill in dollar form and just convert directly. Some would say, why would I take that risk if it is the same as going abroad where I can just add the cost of a ticket and travel?”

“For some, treatment in India or China is cheaper than even in Nigeria. The cost of the ticket is even cheaper than in Nigeria,” he added.

Aligbe also blamed the weak health sector for the rising foreign medical trips.

“Our health system has dropped as well. Doctors are leaving because the pay is quite low. There have also been complaints that the total budget for health was not released. If the resources are not provided, nothing can be done to change the health sector,” he said.

On tourism-related travel, Aligbe said insecurity and lack of policy direction were limiting the growth of Nigeria’s domestic tourism industry.

“We have not developed our tourism sector, and insecurity plagues our country. So, insecurity is an impediment. We don’t have a firm policy in Nigeria to develop tourism, otherwise it is a place that should earn us a lot of money with the vast land space we have and the sites, which are largely undeveloped,” he said.

He also linked the rise in foreign travel to fare developments in the aviation sector during the year.

“Do you recall what happened in the aviation sector in Q4? Nigerian airlines increased fares and people complained. For foreign travel, it remained relatively steady. It didn’t witness that kind of meteoric increase in prices.

“Because it is usually a festive period, people are always prepared to travel during that period, so they keep their money ahead. Take a look at Detty December, there was an influx of Nigerians into the country from overseas. So, it is a period of travel boom.

“If we didn’t have the kind of fare increase we had among domestic airlines, we might also have experienced a boom in passengers on domestic routes,” he stated.

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