Geopolitical research firm SBM Intelligence has revealed that Nigeria’s kidnapping crisis worsened between July 2024 and June 2025, as abductors demanded over ₦48 billion in ransom, but victims’ families paid only ₦2.57 billion.
The findings, published in the report Economics of Nigeria’s Kidnap Industry, reveal that 4,722 individuals were abducted in 997 separate incidents, resulting in 762 deaths.
“Nigeria’s kidnapping crisis has evolved into a lucrative criminal enterprise, with ₦2.56 billion ($1.66 million) confirmed in ransom payments and 4,722 civilians abducted in just one year,” the report said.
SBM report highlights a widening gap between naira-denominated figures and their dollar equivalents, a reflection of the naira’s steep devaluation. ₦653.7 million (~$1.13 million) in 2022, ₦302 million (~$387,179) in 2023, ₦1.05 billion (~$655,000) in 2024, and currently ₦2.56 billion (~$1.66 million).
“This significant divergence between the NGN and USD amounts reflects the ongoing devaluation of the Nigerian currency,” SBM notes, stressing that kidnappers now inflate ransom demands in naira to compensate for the currency’s devaluation.
A breakdown by state shows the northern region is disproportionately affected. Katsina recorded 131 incidents (13.1 per cent of the national total) and Zamfara had the highest number of victims with 1,203 abductions (25.4 per cent).
Other heavily affected states include Kaduna (123 incidents), Niger (40), and Delta, which, despite being in the South, recorded 49 incidents.
On 15 March 2025 in Delta State, kidnappers demanded ₦30 billion for the release of Chidimma and Precious Enuma and their aunt, Anwuri Okoye. This particular case, SBM said, constituted 62.5 per cent of all ransom demands in the year under review.
“Unless security forces dismantle these networks and address root causes — poverty, unemployment, and weak law enforcement — the cycle of kidnappings, ransoms, and deaths will continue unchecked, leaving ordinary Nigerians in perpetual fear,” SBM warned.
The report advocates for disrupting kidnappers’ financial networks through advanced tracing technologies and stabilising the economy to undercut criminal recruitment.
It cautions: “Without coordinated strategies targeting both the crime’s profitability and its socioeconomic drivers, Nigeria risks entrenching kidnapping as a grim national industry, one that perpetuates poverty, undermines recovery, and leaves citizens hostage to a failing system.”
Adding urgency to its call, SBM concludes, “The time for half-measures has passed.”
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