Nigeria spent over $2.39 billion on medical tourism in 2024, according to Dr. Samuel Maduka Onyishi, Founder and Chancellor of Maduka University.
Dr. Onyishi made this revelation in a lecture titled “Entrepreneurship for Human Development and Economic Progression: A Call on Nigerian Universities” at the University of Nigeria, Enugu Campus.
The country’s spending on medical tourism highlights the need to develop the medical entrepreneurship sector.
Despite having numerous institutions offering medical education and training, Nigeria has yet to harness the potential within the medical entrepreneurship landscape.
Onyishi emphasized the importance of strategic entrepreneurship education in reducing widespread unemployment and poverty in Nigeria.
He proposed a comprehensive model that includes entrepreneurship education, financial literacy, vocational and skill acquisition training, leadership development, and other key components.
The lecturer also stressed the need for universities to adopt a more practical and structured approach to entrepreneurship training, encouraging students to form cooperative societies, investment clubs, and partnerships.
He highlighted the importance of university-industry collaboration, especially in light of emerging technological disruptions.
To unlock the potential in the medical entrepreneurship space, Onyishi identified critical elements such as professionals with integrity, long-term investors, various equity models, and strong corporate governance.
He challenged academics and professionals to reimagine and reconstruct the university of the future, integrating local initiatives, especially in the medical and allied sectors.
According to Onyishi, Nigerian universities must go beyond theory and produce graduates who are relevant in a rapidly changing, AI-driven world.
By doing so, the country can reduce its reliance on medical tourism and develop a thriving medical entrepreneurship sector.
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