SHOCKING: How much Nigeria has spent in paying ransom to kidnappers revealed, details emerge

• Nigerians paid N1.048 billion in ransom between July 2023 and June 2024, according to a report by SBM Intelligence
• Economic stagnation was cited as a driving factor behind the increase in kidnappings
• Zamfara recorded the highest number of incidents of kidnapping with 132 cases and 1,639 victims

Nigerians paid a staggering N1.048 billion in ransom to kidnappers between July 2023 and June 2024, according to a report released by SBM Intelligence.

The report, which detailed the abduction of 7,568 individuals across Nigeria during this period, highlights the growing threat of kidnapping for ransom in the country.

Report reveals how much Nigeria has paid as ransom to kidnappers Photo credit: @PoliceNG
Source: Twitter

SBM intelligence reveals details of ransoms

SBM Intelligence, a leading geopolitical research firm specializing in Nigeria and West Africa, noted that although kidnappers initially demanded a total of N11 billion in ransom, only N1.048 billion was ultimately paid, Daily Trust reported.

The report, titled "Grim Reaping," underscores the worsening security situation, with kidnapping emerging as a widespread concern amid other ongoing security challenges, including Boko Haram's activities in the North East and armed violence in other regions.

The report also identified economic stagnation as a driving factor behind the increase in kidnappings, with abductors targeting a wider range of victims.

The ransom amounts, the report suggests, often reflect the financial capacity of the victims' families rather than their negotiating skills, Leadership reported.

FCT has highest ransom demands - Report

Additionally, the Federal Capital Territory (FCT) saw the highest ransom demands, followed by Lagos and Kaduna.

The South East led in both the amount of ransom paid and the success rate of collections.

The report further revealed a trend in which kidnappers increasingly demand in-kind payments, such as food, drinks, and cigarettes in the South, and motorcycles in the North, reflecting regional variations in ransom demands.

The report said:

“Also, between July 2023 and June 2024, our research uncovered that at least 7,568 individuals were abducted in 1,130 incidents across Nigeria. "The states of Zamfara, Kaduna, and Katsina reported the highest numbers of both incidents and victims. Zamfara experienced 132 incidents with 1,639 victims, Kaduna had 113 incidents involving 1,113 victims and Katsina recorded 119 incidents with 887 victims."

Zamfara records high in kidnapping incidents - Report

The report highlighted that Zamfara had the highest number of kidnapping incidents, with 132 cases involving 1,639 victims. Kaduna followed with 113 incidents and 1,113 victims, while Katsina reported 119 incidents with 887 victims.

On the other end of the spectrum, Gombe recorded the fewest incidents with just one case, followed by Jigawa with two cases, Bayelsa with three, Kano with four, and Osun State with six cases.

Unemployment cause of banditry, kidnapping, says OBJ

Earlier, Legit.ng reported that Ex-President Olusegun Obasanjo has correlated the surge in banditry and kidnapping with the widespread unemployment in the nation.

He expressed this viewpoint while delivering a speech at the 9th International Trade Exhibition & Conference on Agrofood, Plastics, Printing, and Packaging in Lagos.

Source: Legit.ng