Nigeria’s kidnap-for-ransom industry continues to thrive, with ₦2.57 billion paid to abductors between July 2024 and June 2025, despite total demands exceeding ₦48 billion, according to a new report by SBM Intelligence.
The report, “Economics of Nigeria’s Kidnap Industry,” recorded 4,722 abductions across 997 incidents and at least 762 killings during the period.
“Kidnapping has evolved into a lucrative criminal enterprise,” SBM said. “With ₦2.56 billion ($1.66 million) in confirmed ransom payments, Nigeria’s kidnap crisis is now a self-sustaining industry fueled by poverty, unemployment, and weak law enforcement.”
The Northwest was identified as the most violent zone, with Zamfara (1,203 victims), Kaduna (123 incidents), and Katsina (131 incidents) leading in abduction numbers. Delta State ranked highest in the South, though accounting for less than 5 per cent of incidents.
SBM warned that currency devaluation is driving kidnappers to demand higher naira sums, citing the abduction of Chidimma and Precious Enuma and their aunt Anwuri Oko Ye in Delta State, where abductors demanded ₦30 billion, representing 62.5 per cent of all ransom demands during the period.
The group urged the federal government to “dismantle ransom networks and address root causes.”
“Without urgent action, Nigeria risks entrenching kidnapping as a national industry, undermining economic recovery and public safety,” the report stated.
