Nigerian kidnappings surge 66%, N7.8 billion paid in ransoms, SBM Intelligence reports

A total of N7.8 billion was paid in ransoms during this period, according to a report by SBM Intelligence titled 'The capture of the kidnap economy'. The Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad JAS faction of Boko Haram collected 90% of the total ransom from just eight incidents, with two mass abductions accounting for N7 billion. These included N5 billion for 416 captives from Ngoshe, Borno State, and N2 billion for 315 pupils and staff from St Mary’s School in Papiri, Niger State.

The Northwest geopolitical zone recorded the highest figures for incidents, victims, and deaths, with Zamfara alone accounting for nearly a quarter of the national total. Mass abduction was identified as the most frequent mode of operation. The report highlights that while many kidnapping cases are tied to bandits and criminal gangs, the eventual payout is dominated by a single terrorist organization.

It recommends disrupting financial flows and addressing economic desperation to combat this issue, warning that without a coordinated strategy, kidnapping risks becoming a funding mechanism for groups threatening Nigeria's stability.