Nigeria's Kidnap Economy: N81.9bn Demanded, N11.4bn Paid
Between July 2023 and June 2026, kidnappers in Nigeria demanded at least N81.9 billion in ransom, collecting N11.4 billion, according to SBM Intelligence's analysis of three years of data. A total of 20,115 individuals were abducted during this period.
The N11.4 billion collected represented approximately 13.9% of the total ransom demanded. Annual ransom payments surged over 642%, from N1.05 billion in 2023/24 to N7.78 billion in 2025/26.
The number of abductions rose to 7,825 in the latest reporting period, while ransom demands decreased to N22.856 billion, with payments increasing to N7.779 billion, a collection rate of 34%. Notably, two mass abductions accounted for a significant portion of payments: N5 billion for 416 captives in Ngoshe, Borno State, and N2 billion for 315 individuals from St Mary’s School in Niger State.
The analysis also indicated that Boko Haram's faction was linked to eight ransom cases, demanding N9.205 billion and collecting N7.002 billion.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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