Nigerian armed groups raise nearly $6 Million in ransoms, study finds

Armed groups in Nigeria collected nearly $6 million in ransom payments over the past year, as kidnappings surged across Africa’s most populous country, according to a new study.

The Lagos-based SBM Intelligence consultancy estimates that about 7.78 billion naira, or $5.8 million, was paid in ransom between July 2025 and June 2026 — more than three times the amount recorded the previous year.

At least 7,825 people were abducted, a 66% increase, while more than 1,100 people were killed, including nearly 900 civilians.

Two mass kidnappings attributed to Boko Haram accounted for almost 90% of the ransom total, according to the report. More than 400 people were abducted in Borno state, while around 300 pupils and staff were taken from a Catholic school in Niger state.

The figures may be an underestimate, as many victims and their families are reluctant to report ransom payments, which are illegal in Nigeria.

Kidnapping has become an increasingly lucrative source of income for jihadists and criminal gangs known as bandits. The northwest remains the hardest-hit region, with mass abductions becoming increasingly common.

The report says 80% of victims were taken in group seizures, highlighting the growing scale of the crisis.

Nigeria's security forces are already stretched by a 17-year jihadist insurgency in the northeast, widespread banditry in the northwest and central regions, and separatist tensions in the southeast.

SBM Intelligence says tackling the crisis will require cutting off the financial networks that fund armed groups while addressing the poverty and economic instability that help provide a pool of recruits.

Security is expected to be a major issue in Nigeria's January elections, when President Bola Tinubu will seek a second term.

The latest warning comes after another jihadist attack in Niger state last week left dozens dead and saw scores of people kidnapped.