Nigeria's Kidnap Economy: N7.8bn Ransom in One Year

A report by SBM Intelligence revealed that between July 2025 and June 2026, criminal elements involved in kidnappings in Nigeria made over N7.8 billion from ransom payments. The report, titled ‘The Capture of the Kidnap Economy’, documented 7,825 abductions across 1,713 incidents and noted that at least 1,142 individuals were killed during this period.

Ransom demands decreased from N48 billion to N22.9 billion, while actual payments increased from N2.56 billion to N7.78 billion, raising the collection rate from 5.35% to 34%. The report indicated that 90% of the ransom was paid to the Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad faction of Boko Haram, which reportedly collected N7 billion from just eight incidents.

Two significant abductions accounted for most of the ransom: N5 billion for 416 captives from Ngoshe, Borno State, and N2 billion for 315 individuals from St Mary’s School, Papiri, Niger State. The report warned that ransom payments do not guarantee the survival of victims and recommended disrupting financial flows to insurgents.