Experts in the development sector have explained why kidnapping for ransom continues to thrive in Nigeria, especially in the northern part of the country.
Their views follow a new report by SB Morgen (SBM) Intelligence, which revealed that kidnappers demanded over N48 billion between July 2024 and June 2025. However, only N2.57 billion was actually paid.
The report, titled “Economics of Nigeria’s Kidnap Industry,” also disclosed that at least 4,722 people were kidnapped in 997 incidents, with 762 killed during the same period.
Dr. Umar Yakubu, Executive Director of the Center for Fiscal Transparency and Public Integrity, said poverty, illiteracy, and weak human capital development, especially in the Northwest, are key factors fueling the menace.
He advised the government to use the Nigerian Financial Intelligence Agency to track ransom payments, work with communities to report suspicious sudden wealth, and improve governance at the state level to ease hardship.
Development economist, Dr. Hassan Abdullahi, warned that families paying ransom indirectly fuel further kidnappings. He stressed the need for government and security agencies to discourage ransom payments and strengthen intelligence gathering.
Economist Joseph Momoh added that the failure of security agencies and suspected collaboration between some community members and kidnappers also contribute to the problem. He urged the telecommunications regulator to step up tracking of calls used by kidnappers.
The SBM report showed that ransom payments have risen sharply in naira terms, from N653.7 million in 2022 to N2.56 billion in 2025, but the dollar equivalent has remained lower due to naira’s devaluation.
The report warned that kidnappers are now demanding larger naira sums to offset the weakening currency, turning kidnapping into a “self-sustaining business model.”
The report listed Zamfara, Kaduna, and Katsina as states with the highest number of victims. While Katsina recorded the most incidents (131), Zamfara had the most victims (1,203).
The single largest ransom demand came from the abduction of three family members in Delta State, where kidnappers requested N30 billion, representing over 60% of all ransom demanded nationwide.
SBM stressed that unless security forces dismantle kidnapping networks and address root causes like poverty, unemployment, and poor governance, Nigeria risks entrenching kidnapping as a permanent industry.
It recommended stronger financial intelligence, economic reforms, and community cooperation to starve kidnappers of funds and recruitment opportunities.
“The time for half-measures has passed,” SBM warned. “Only by dismantling the ransom economy can Nigeria begin to reclaim its security and future.”
