Nigeria's Ransom Economy: Over $5 Million Paid in Kidnappings in a Year
Nigerian kidnappers collected over $5 million in ransoms in a year, with abductions up 66%, according to a new analysis.
Kidnapping for ransom has become a lucrative and increasingly common crime in Nigeria, with a new report revealing that victims' families paid out more than $5 million over the past year.
SBM Intelligence, a Lagos-based research group, said that between July 2025 and June 2026, at least 7,825 people were abducted across the country — a 66% jump from the previous year. Ransom payments during that period totaled 7.78 billion naira, or roughly $5.8 million.
Security analyst Kehinde Giwa of SBM Intelligence warned that paying ransoms only fuels the cycle of violence. "For every ransom that is paid for a kidnapping incident, you are simply birthing another kidnapping incident," he said. Giwa added that Nigeria is "not winning the war," with nearly 21 kidnapping incidents occurring daily.
The report comes amid a multifaceted security crisis. In the northwest and north-central regions, armed groups known locally as bandits carry out raids and kidnappings, often targeting villages and schools. Authorities say these groups largely consist of former herders who took up arms after clashes with farming communities over dwindling resources.
In the northeast, a separate Islamist insurgency has raged for over a decade. Last week, dozens of worshippers were abducted from a mosque in Niger state, part of a series of village raids.
The human cost is immense. Abba Bukar, a resident of Maiduguri in Borno state, recounted being kidnapped near a university in June and held for about four weeks. His father paid around 2 million naira (about $1,500) for his release, forcing the family to sell their home and belongings and take on debt. "We are still struggling to recover economically," Bukar said.
In response to the crisis, the United States and Nigeria have formed a military partnership. U.S. troops were deployed in February to advise Nigerian forces, and drones were sent in March, following allegations by former President Donald Trump about Christians being targeted in Africa's most populous nation.