Nigeria’s Kidnap Economy: N81.9bn Demanded, N11.4bn Paid In 3 Years–Report
Kidnappers demanded at least N81.9 billion in ransom from victims and their families across Nigeria between July 2023 and June 2026 but collected N11.4 billion, an analysis of three years of data on the country’s kidnap economy has shown.
Findings from three consecutive annual reports by SBM Intelligence showed that at least 20,115 people were abducted during the period, underscoring the growing human and financial cost of kidnapping across the country.
The N11.4 billion collected represented about 13.9 per cent of the total ransom demanded. However, annual ransom payments increased more than sevenfold, or about 642 per cent, from N1.05 billion in 2023/24 to N7.78 billion in 2025/26.
According to SBM Intelligence, ransom demands fell from N48 billion to N22.9 billion between 2024/25 and 2025/26, while actual payments more than tripled from N2.56 billion to N7.78 billion. The collection rate consequently rose from 5.35 per cent to 34 per cent.
Between July 2023 and June 2024, 7,568 people were abducted in 1,130 incidents, with kidnappers demanding N10.995 billion and receiving N1.048 billion, representing 9.5 per cent of the amount demanded.
The number of victims fell to 4,722 between July 2024 and June 2025, but ransom demands rose sharply to about N48 billion. Payments increased to N2.56 billion, although the collection rate dropped to 5.35 per cent.
The trend changed significantly in the latest reporting period. Between July 2025 and June 2026, the number of people abducted rose by about 66 per cent to 7,825, while ransom demands fell to N22.856 billion. Actual payments, however, surged to N7.779 billion, representing 34 per cent of the amount demanded.
SBM said the latest period recorded 1,411 kidnapping incidents, while another 302 incidents involved security operations against kidnappers. At least 1,142 people were killed in the combined incidents.
Two mass abductions accounted for a substantial portion of the ransom paid in 2025/26. SBM said N5 billion was paid for 416 captives abducted from Ngoshe in Borno State, while N2 billion was paid for 315 pupils and staff abducted from St Mary’s School in Papiri, Niger State. The N7 billion combined payment represented about 90 per cent of ransom payments during the period and roughly 61 per cent of the N11.4 billion documented over the three years.
The analysis showed that Boko Haram’s Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad faction was linked to eight ransom cases in which N9.205 billion was demanded and N7.002 billion collected. This represented a 76.1 per cent collection rate and about 90 per cent of all ransom payments documented in 2025/26.
In contrast, bandits and other profit-driven criminal kidnappers, grouped under the broader “kidnapper” category, were linked to 146 cases involving N13.492 billion in demands but only N719.4 million in payments. ISWAP was linked to N53 million in payments, while N5 million was attributed to cases involving suspected Fulani herdsmen.
SBM said the figures revealed two distinct sides of Nigeria’s kidnap economy: a high-volume criminal market where ransom demands are often negotiated down substantially and a smaller number of organised armed groups capable of extracting much larger payments. It warned that the N11.4 billion documented may underestimate the actual amount paid because many ransom transactions are not publicly disclosed.
Northern Nigeria remained the epicentre of the crisis, with 7,334 of the 7,825 victims recorded in 2025/26 abducted in the North. Zamfara led with 1,921 victims from 236 incidents, followed by Sokoto with 1,157, Kaduna with 814 and Katsina with 559.
SBM also reported a growing reliance on mass abductions, which accounted for 79.5 per cent of victims in 2025/26. It said kidnapping had become increasingly indiscriminate, with ordinary Nigerians targeted alongside wealthy individuals, while school abductions continued to threaten education, farming and public confidence.
The report noted that ransom payments did not always guarantee victims’ safety, with at least six cases in the latest period involving victims who were killed after payment. People delivering ransom were also increasingly targeted. The National Publicity Secretary of the Young Progressives Party, Wale Egbeola-Martins, called for intelligence-driven and preventive security measures, warning that government could not continue responding only after abductions had occurred.
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