NAIRAMETRICS
A new report by SBM Intelligence reveals that Nigerians paid around N1.048 billion as ransom to kidnappers between July 2023 and June 2024.
The report titled “Grim Reaping” stated that kidnappers across the country kidnappers demanded around N10.99 billion in ransom out of which N1.048 billion was paid by victims representing around 9.5% of the total figure.
The report noted that Nigeria’s worsening insecurity is driven by economic stagnation, leading more people to resort to kidnapping for survival as the pool of high-net-worth individuals shrinks.
As a result, kidnappers increasingly target a broader range of people, starting with high ransom demands that are eventually lowered to what families or social organizations can afford. Hence, ransom paid reflects the purchasing power of Nigerians rather than the negotiating skills of the victims’ families.
According to the report, Nigeria’s security challenges have grown increasingly intricate, marked by the resurgence of Boko Haram in the Northeast, the activities of armed gangs in the Northcentral and Northwest, secessionist violence in the Southeast, and gang-related disturbances in the Southwest.
The report highlighted that amid these diverse threats, kidnapping for ransom has emerged as a pervasive and unifying concern.
Also, between July 2023 and June 2024, our research uncovered that at least 7,568 individuals were abducted in 1,130 incidents across Nigeria. The states of Zamfara, Kaduna, and Katsina reported the highest numbers of both incidents and victims. Zamfara experienced 132 incidents with 1,639 victims, Kaduna had 113 incidents involving 1,113 victims, and Katsina recorded 119 incidents with 887 victims.
These states also recorded the highest number of civilian deaths. Over the past year, kidnapping has become increasingly lethal, resulting in 1,056 deaths across 1,130 reported incidents. On average, every attempted kidnapping now results in a fatality.
The report noted that the Federal Capital Territory (FCT) recorded the highest ransom demands in the country, with Lagos and Kaduna closely trailing. An analysis of geopolitical zones reveals that the Southeast leads in both the amount of ransom paid and the rate of successful collections.
Furthermore, the report revealed a new form of payment demanded by kidnapper- in-kind payments from victims’ families, which vary by region. In the South, these demands often include food, drinks, and cigarettes, while in the North, motorcycles are frequently requested.
According to SBM’s analysis, women are more often targeted for kidnapping than men. While the South has witnessed only a modest increase in kidnapping incidents from 2022 to 2024, the North has seen a sharp escalation.
This year alone, the number of incidents in the North has exceeded the combined totals of the previous two years, indicating a rapidly deteriorating and increasingly unmanageable situation.
