The “Abduction Industry”: Nigeria’s Ransom Crisis Hits ₦2.57 Billion
In what is being described as a grim “consolidation” of criminal enterprise, a new report by SBM Intelligence reveals that Nigeria’s kidnapping crisis has evolved into a structured, profit-driven industry. Between July 2024 and June 2025, kidnappers generated at least ₦2.57 billion in ransom payments.
While the human toll is devastating—with 4,722 abductions and 762 deaths recorded in just one year—the economics behind the crisis tell an even more chilling story of a nation at an “inflexion point”.
Table of Contents
The Ransom “Market”: ₦48 Billion Demanded vs. ₦2.57 Billion Paid
Regional Epicenter: Why the Northwest is Under Siege
The Economic Paradox: Naira Demands vs. Dollar Values
Mass Abductions: From Villages to School Gates
Government Action: Can 50,000 New Police Officers Stem the Tide?
1. The Ransom “Market”: ₦48 Billion Demanded vs. ₦2.57 Billion Paid
The scale of the demands reflects the audacity of modern banditry. During the 12-month period reviewed, kidnappers demanded a staggering ₦48 billion, though they eventually realized only about 5.35% of that amount.
| Metric | July 2024 – June 2025 |
| Total Ransom Demanded | ₦48,000,000,000 |
| Total Ransom Paid | ₦2,570,000,000 |
| Total Abductions | 4,722 victims |
| Total Fatalities | 762 deaths |
| Average Incidents | ~83 per month |
2. Regional Epicenter: Why the Northwest is Under Siege
The report highlights a sharp geographical divide. The Northwest remains the most dangerous region, accounting for over 62% of all victims nationwide.
Zamfara State: The national leader in tragedy, recording 1,203 victims—more than a quarter of the country’s total.
Kaduna & Katsina: Ranked second and third, these states suffer from vast, “poorly governed” rural spaces that allow bandit syndicates to operate with impunity.
The Safe Zone? Conversely, the Southwest recorded the lowest activity, representing only 3% of victims.
3. The Economic Paradox: Naira Demands vs. Dollar Values
One of SBM’s most insightful findings is the impact of currency depreciation. Although ransom demands in Naira have skyrocketed, their value in US Dollars has remained relatively stable.
2022: ₦653.7 million was worth roughly $1.13 million.
2025: ₦2.57 billion is worth roughly $1.66 million.
Because the Naira is weaker, kidnappers are forced to inflate their Naira demands just to maintain their “purchasing power” in the dark economy. This creates an even heavier burden on local families, many of whom are already struggling with the rising cost of living.
4. Mass Abductions: From Villages to School Gates
Kidnapping is no longer just about high-profile individuals. The report found that “Mass Abductions” (incidents involving 5 or more people) now make up 23% of all cases.
A high-profile example occurred in late November 2025 at St. Mary’s Catholic School in Niger State, where over 300 students were seized. While all students have since been released, the incident underscores the vulnerability of educational institutions in the North.
5. Government Action: Can 50,000 New Police Officers Stem the Tide?
In response to the “democratization” of crime, President Bola Tinubu has authorized an increase in police recruitment from 30,000 to 50,000. However, experts warn that without addressing the root causes—poverty, unemployment, and the collapse of rural economies—increased boots on the ground may only be a temporary fix.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
