A geopolitical research firm, SB Morgen, SBM, has revealed that at least 762 Nigerians were murdered by kidnappers in 4,722 abductions between June 2024 – June 2025 across Nigeria.
The firm, in its recent report titled “Economics of Nigeria’s Kidnap Industry,” disclosed that kidnappers asked for a total amount of N48 billion from victims and their families during the same period.
The Federal Government, yet to react to the report, referred the press to the office of the National Security Adviser, NSA, or the Inspector General of Police, stating that it is a security matter.
However, the NSA, Police headquarters and National Counter Terrorism Centre could not be reached as phone calls and text messages received no response.
The report revealed that out of the total amount of N48 billion demanded as ransom, just N2.57 billion was paid by the victims and their loved ones.
“Nigeria’s kidnapping crisis has evolved into a lucrative criminal enterprise, with N2.56 billion ($1.66 million) confirmed in ransom payments and 4,722 civilians abducted in just one year.
The Northwest remains the most violent, while the Southeast and South-South face targeted religious abductions and financial extortion.
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,” it read.
According to the research firm, even though the amount of naira paid in ransom has increased drastically, the dollar equivalent hasn’t followed suit.
For instance, in 2022, N653.7 million was paid as ransom money, which is about $1.13 million.
In 2023, the amount paid reduced to N302 million ($387,179).
“Although the NGN amount paid rose sharply to N1.05 billion in 2024, the USD equivalent was only around $655,000,” the report reads.
The latest figures show a new high, with N2.56 billion paid, which amounts to approximately $1.66 million.
This significant divergence between the NGN and USD amounts reflects the ongoing devaluation of the Nigerian currency.
As the cost of living soars and legitimate livelihood opportunities dwindle, kidnapping has become a highly organised and pervasive criminal industry,” it continued.
SB Morgen maintained that the kidnappers are demanding increasingly higher sums in naira to make up for the currency’s weakening purchasing power, thereby making kidnapping a self-sustaining business model for the perpetrators.
Zamfara And Kaduna Are Mostly Affected:
Out of 4,722 reported kidnapping cases, Zamfara, Kaduna, and Katsina recorded the highest numbers of incidents and victims.
“In the period under review, Katsina led in the number of kidnap-related incidents with 131, accounting for 13.1% of the national total.
However, this does not correspond with the total number of people kidnapped. That record belongs to Zamfara, whose 1203 kidnapped residents account for 25.4% of the total.
Of the top five states in the number of incidents, four-fifths are northern, with Katsina (131), Kaduna (123), Zamfara (113) and Niger (40) representing two northern geopolitical zones (Northwest and Northcentral). In comparison, Delta completes the five states with 49 incidents.
This means that the most kidnap-infested state in the South accounts for a little less than 5% of the whole, making the kidnap crisis a predominantly northern issue,” the analysis read.
The report disclosed that the kidnappers have gotten so comfortable in 2025 that shocking amounts are being demanded as ransom.
After Chidimma, Precious Enuma, and their aunt Anwuri Oko Ye were kidnapped in Ebedei Ukwuole community of Ukwuani local government area of Delta State, on March 15, 2025, a whopping N30 billion was demanded as payment, the highest ransom amount in a while.
To end the worrying kidnapping trend, SBM advocated for quick and systemic solutions, emphasising the need for the government to be strategic and decisive.
Urging the FG to focus on stabilizing Nigeria’s economy to discourage all kinds of crimes, the firm advised the powers that be to work on intercepting kidnap missions via advanced tracking technologies.
“But 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,” the report warned.
Reiterating that Nigerian leaders must be firm in the fight against abductions, SBM concluded by stressing how a bright future can only be secured if the ransom economy is dismantled once and for all.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
