Geopolitical research firm, SB Morgen (SBM) Intelligence, says kidnappers in Nigeria demanded over N10.9 billion from victims and their families between June 2023 and July 2024.
In its latest report, titled, ‘Economics of Nigeria’s Kidnap Industry,’ the research firm said out of the total amount demanded as ransom, only N1 billion was given.
The firm said in that same period about 7,568 people were abducted in 1,130 incidents across the country.
“Nigeria’s security crisis has become increasingly complex, with armed groups and non-state actors exploiting the state’s weakened influence.
“This includes Boko Haram’s resurgence in the Northeast, armed gangs in the Northcentral and Northwest, secessionist violence in the Southeast, and gang-related issues in the Southwest.
“Amid these diverse security threats, widespread kidnap for ransom has emerged as a common thread.
“Between July 2023 and June 2024, our research found that no fewer than 7,568 people were abducted in 1,130 incidents across the country.
“In that same period, kidnappers demanded at least the sum of N10,995,090,000 (approximately $6,871,931) as ransom but received N1,048,110,000, a mere 9.5% of the money demanded, indicating that kidnappers have become less targeted in their victimology,” the analysis read.
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Giving State report, the research firm said of the 1,130 reported kidnapping cases, Zamfara, Kaduna, and Katsina had the highest numbers of incidents and victims.
“Zamfara recorded 132 incidents with 1,639 victims, Kaduna had 113 incidents with 1,113 victims, and Katsina reported 119 incidents with 887 victims.
“These three states also have the highest number of civilian deaths.
“In the year under review in this report, kidnapping has become more lethal, with 1,056 people killed in 1,130 reported kidnap incidents.
“On average, someone is killed each time there is an attempted kidnap,” SBM Intelligence added.
In terms of demands, the SBM said the Federal Capital Territory has the highest ransom demand, followed closely by Lagos and Kaduna.
“When comparing geopolitical zones, the southeast has the highest ransom paid and collection rate overall.
“This year, as in previous years, kidnappers have continued to demand in-kind payments from victims’ families, ranging from food, drinks and cigarettes in the South to motorcycles in the North,” it said
The firm said one thing that may cause problems in future is that “kidnappers are increasingly breaking trust.”
“More than four ransom bearers have been killed, and three others abducted this year, and if this trend persists, it may get more challenging to find people eager or willing to deliver ransoms on behalf of victims,” the report added.
