Armed groups in Nigeria collected an estimated $5.8 million in ransom payments between July 2025 and June 2026, more than three times the amount recorded in the previous year, according to a new report by SBM Intelligence.
The Lagos-based research and intelligence consultancy estimated that about N7.78 billion was paid to kidnappers during the 12-month period as abductions continued to rise across the country.
The report recorded at least 7,825 kidnapping victims during the period, representing a 66 per cent increase from the previous year. More than 1,100 people were also killed, including nearly 900 civilians.
According to the study, two mass abduction incidents blamed on Boko Haram accounted for almost 90 per cent of the total ransom payments recorded.
More than 400 people were abducted in Borno State, while about 300 pupils and staff were kidnapped from a Catholic school in Niger State.
SBM Intelligence, however, warned that the actual value of ransom payments could be significantly higher because many victims and their families do not report payments to authorities, particularly because paying ransom is illegal in Nigeria.
Kidnapping has increasingly become a major source of funding for jihadist groups and criminal gangs commonly referred to as bandits. The northwest remains the worst-affected region, with large-scale abductions becoming increasingly frequent.
The report also found that about 80 per cent of kidnapping victims were abducted in group seizures, underscoring the growing scale and organisation of the criminal networks.
Nigeria’s security agencies continue to face multiple threats, including a 17-year Islamist insurgency in the northeast, widespread banditry across the northwest and central regions, and separatist tensions in the southeast.
SBM Intelligence said addressing the kidnapping crisis would require authorities to disrupt the financial networks sustaining armed groups, while simultaneously tackling poverty, unemployment and economic instability that create a pool of potential recruits.
Security is expected to feature prominently in Nigeria’s next general elections, with President Bola Ahmed Tinubu seeking a second term.
The report comes amid renewed concerns over insecurity following a jihadist attack in Niger State last week that reportedly killed dozens of people and resulted in scores of others being abducted
