Nigerians paid N2.57bn ransom to kidnappers in one year as SBM Intelligence reports 4,722 abductions and rising insecurity.
A new report by SBM Intelligence has revealed that Nigerians paid N2.57 billion in ransom to kidnappers between July 2024 and June 2025, despite criminals demanding over N48 billion. The study, titled ‘Economics of Nigeria’s Kidnap Industry’, recorded 4,722 abductions across 997 incidents, with at least 762 fatalities. “Nigeria’s kidnapping crisis has evolved into a lucrative criminal enterprise, with N2.56 billion ($1.66 million) confirmed in ransom payments,” the report stated.
The northwest emerged as the most violent region, while Zamfara recorded the highest number of kidnap victims at 1,203. Katsina, Kaduna, Niger, and Delta also ranked among the worst-hit states. SBM highlighted a March 2025 abduction in Delta State where kidnappers demanded N30 billion, representing 62.5% of all ransom requests.
The firm warned that the crisis is driven by poverty, unemployment, weak law enforcement, and naira devaluation, urging systemic government action. “The time for half-measures has passed,” it stressed, calling for dismantling of ransom networks.