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As the situation of insecurity in the country spreads and continues, a report by SBM Intelligence revealed that criminal elements involved in kidnappings made over N7.8 billion from ransom payments between July 2025 and June 2026.
The report titled ‘Economic Capture of Kidnapping’ shows that no less than 7,825 people were abducted in 1,713 abduction and abduction-related incidents, while no less than 1,142 people were reportedly killed in the period under review.
According to SBM Intelligence, the ransom demanded by the kidnappers fell from N48 billion to N22.9 billion, while the actual payment increased from N2.56 billion to N7.78 billion, increasing the collection rate from 5.35 percent to 34 percent.
The report attributed 90 percent of the ransom money paid to the Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad faction of Boko Haram, which reportedly collected N7 billion from just eight incidents.
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It said two major kidnappings accounted for almost the entire amount, including a reported N5 billion ransom paid for 416 captives abducted from Ngoshe, Borno State, and N2 billion for 315 students and staff of St Mary’s School, Papiri, Niger State.
SBM Intelligence said mass kidnappings had become the kidnappers’ most frequent mode of operation, with Zamfara recording 92 mass kidnappings and Sokoto 76 during the period.
The report notes that the resurgence of school abductions, particularly the Papiri incident, has broader consequences for education, agriculture and public trust.
The report also warned that paying ransoms does not guarantee the survival of victims, and noted that in at least six cases, hostages were killed after ransoms were paid.
The report recommends stopping financial flows that sustain the insurgency while addressing economic conditions that supply recruits to criminal groups.
“Without a coordinated strategy that targets the profits of crime and the roots of crime, Nigeria risks turning kidnapping not only into a criminal industry but also as a funding mechanism for the groups that most threaten its stability,” the report warns.
