Kidnapping for ransom has become one of Nigeria’s most devastating industries, draining families, communities, and the economy. 

A new report has revealed that between July 2024 and June 2025, Nigerians paid a staggering N2.56 billion to secure the release of abducted loved ones, a figure that paints the depth of the country’s worsening insecurity.

This amount represents a 144% rise compared to the N1.05 billion recorded the year before, highlighting just how quickly the kidnap economy is expanding. 

Yet, despite the heavy burden on citizens, this was only a fraction of what kidnappers demanded. According to data from SBM Intelligence, abductors asked for an eye-watering N48 billion, but less than 6% was actually paid.

Growing crisis of security and economy

The surge in ransom payments is not only about insecurity but also tied directly to Nigeria’s fragile economy. Families are parting with larger sums as the naira continues to depreciate. In 2024, ransom payments valued at N1.05 billion equaled around $655,000. 

By 2025, payments had more than doubled in naira terms, yet in dollar value, they amounted to only $1.66 million.

This gap shows how inflation and a weakening exchange rate are shaping the economics of kidnapping. Kidnappers now inflate their demands in naira to protect their earnings, while struggling families must pull together increasingly larger payments — often at the expense of their livelihoods.

Its effect on human

The statistics are harrowing. Within the one-year review period, 4,722 Nigerians were abducted in nearly 1,000 incidents, and 762 lives were lost in abduction-related violence. 

Behind these numbers are families forced into desperate negotiations that often begin with outrageous demands.

In Delta State, for example, abductors initially asked for N30 billion to free three relatives, an amount that represented more than half of all ransom demands nationwide during the year. 

Though actual payments are usually far less than the opening figure and sometimes supplemented with food or goods when cash is scarce, the financial drain on households is immense.

Many victims’ families are left to empty savings accounts, borrow from neighbors, or rely on community fundraising to meet ransom demands. These sacrifices deepen poverty and leave communities with little to fall back on in times of crisis.

Where the crisis hits hardest

The Northwest remains Nigeria’s kidnapping epicenter, accounting for over 60% of victims. Zamfara topped the list with 1,203 abductions, followed by Kaduna with 629 and Katsina with 566. Katsina also recorded the highest civilian death toll, underscoring how violent the kidnap economy has become in that region.

Some high-profile cases have also contributed significantly to the totals. In Borno, the abduction of Justice Haruna Mshelia led to a ransom payment of N766 million nearly a third of all the ransom money collected nationwide within the year.

Funding crime and insurgency

Beyond the tragedy of individual families, ransom payments are also fueling larger conflicts. Islamist groups like Boko Haram and its offshoots accounted for about one-third of ransom proceeds. 

For them, kidnapping has become more than a crime; it is a financial lifeline for insurgency.

It is a bleak picture for ordinary Nigerians

For everyday Nigerians, however, the reality is far more painful. Whether it is N50,000 scraped together from relatives or millions pulled from community contributions, the financial impact is crushing. 

Families are left indebted, stripped of savings, or dependent on fragile support networks,  all while kidnappers continue to thrive.

The N2.56 billion figure is not just a number; it reflects broken households, drained communities, and an economy held hostage by insecurity. Unless both the financial and security dimensions of kidnapping are addressed, the price will continue to rise and it is ordinary Nigerians who will keep paying it.