A report by SBM Intelligence has revealed that no fewer than 7,825 people were abducted in 1,713 kidnap and kidnap-related incidents between July 2025 and June 2026, while at least 1,142 people were reported killed.
The report, titled The Capture of the Kidnap Economy, also disclosed that N7.8bn was paid as ransom during the period under review.
Security experts have, however, condemned the growing kidnap-for-ransom economy in the country, warning that the payment of billions of naira to criminal groups was strengthening their capacity to acquire arms and sustain violent operations.
According to SBM Intelligence, ransom demanded by kidnappers dropped from N48bn to N22.9bn, while actual payments rose from N2.56bn to N7.78bn, increasing the collection rate from 5.35 per cent to 34 per cent.
The report attributed 90 per cent of the ransom paid to the Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad faction of Boko Haram, which reportedly collected N7bn from only eight incidents.
