NIGERIA’S KIDNAP ECONOMY DEEPENS AS 7,825 PEOPLE ARE ABDUCTED IN ONE YEAR

At least 7,825 people were abducted across Nigeria between July 2025 and June 2026, while no fewer than 1,142 people were reportedly killed in 1,713 kidnapping and related incidents recorded during the period.

The figures were contained in a report by SBM Intelligence titled The Capture of the Kidnap Economy, which also revealed that victims’ families and other sources paid approximately ₦7.8bn in ransom to secure the release of abducted persons during the 12-month period.

The report raised concerns about the increasing financial dimension of kidnapping in Nigeria, warning that ransom payments are helping criminal groups strengthen their operations and acquire weapons.

According to the report, although the total amount demanded by kidnappers fell from ₦48bn in the previous period to ₦22.9bn, the amount actually paid increased significantly from ₦2.56bn to ₦7.78bn. This meant that the rate at which ransom demands were successfully collected rose from 5.35 per cent to 34 per cent.

Boko Haram was reportedly responsible for about 90 per cent of the ransom paid during the period under review, collecting approximately ₦7bn from just eight incidents.

Two major mass abductions accounted for a substantial portion of the money. The report cited the alleged payment of ₦5bn for 416 people abducted from Ngoshe in Borno State, while another ₦2bn was reportedly paid following the abduction of 315 pupils and staff of St Mary’s School in Papiri, Niger State.

SBM Intelligence also identified mass abduction as the most common method employed by kidnappers, with Zamfara recording 92 incidents and Sokoto 76 during the period examined.

The report warned that the renewed pattern of school abductions could have consequences beyond immediate security concerns, particularly for education, agriculture and public confidence. It further noted that paying ransom did not always guarantee the safety of victims, as hostages were reportedly killed in at least six cases even after ransom had been paid.

Security experts have expressed concern that the billions of naira being channelled to kidnappers are effectively financing criminal networks. They argued that ransom payments enable criminal groups to purchase weapons, recruit more fighters and expand their operations.

Security consultant Lawrence Alobi described the development as a major driver of organised crime, while security expert Jackson Ojo criticised the government's response to the growing kidnapping crisis.

SBM Intelligence recommended measures aimed at disrupting the financial channels that sustain insurgency and kidnapping, while also addressing the economic conditions that make vulnerable individuals susceptible to recruitment by criminal groups.

The report warned that without a coordinated strategy targeting both the profitability and underlying causes of kidnapping, Nigeria risks allowing abduction to become a deeply entrenched criminal industry and a major source of funding for violent groups.