Nigerians paid at least N7.78 billion in ransom to kidnappers between July 2025 and June 2026 as abductions across the country rose sharply, according to a new report by SBM Intelligence.
The report, The Capture of Nigeria’s Kidnap Economy, recorded 7,825 kidnapped victims this year against 4,722 in the previous year. In addition, deaths rose sharply from 762 to 1,142.
Kidnappers demanded N22.86 billion but only collected N7.78 billion, which is a 34 percent collection rate. The amount is more than three times the N2.56 billion ransom paid in the previous reporting period.
The News Chronicle reports that Boko Haram and affiliated groups accounted for about 90 percent of recorded ransom payments, collecting N7 billion from just eight cases.
Two large-scale abductions accounted for the N7 billion ransom paid in the latest report. For instance, a N5 billion ransom was paid after 416 people were abducted from Ngoshe in Borno State. Another N2 billion was paid following the abduction of 315 students and staff from St Mary’s School in Papiri, Niger State.
Northern Nigeria continues to be the epicenter of kidnapping as it accounted for 93.7 percent of victims.
SBM warned that ransom payments are fueling terrorism while also putting a huge financial strain on individuals, businesses, and communities.
