Armed men in Nigeria made over $5 million from kidnapping people

Armed men in Nigeria have made more than $5 million from kidnappings

Kidnappers in Nigeria have made nearly $5.8 million in ransoms from kidnapping civilians over the past year, Reuters reported, citing security consultancy SBM Intelligence. This was reported on August 26.

According to the company's report, 7,825 people were kidnapped between July 2025 and June 2026. This is 66 percent more than in 2024. At least 1,142 people were killed during the same period. The amount of confirmed ransoms has more than tripled to 7.78 billion naira ($5.79 million).

The figures are based on media reports, interviews and open sources. The SBM said the real figures could be higher because many payments are kept secret. While 90 percent of the ransom money in the northeast of the country was collected by a faction of the Boko Haram group, the northwest recorded the highest number of incidents and casualties.

Nigeria's president has now ordered security forces to rescue 600 civilians who were kidnapped in Niger state last week. The presidential administration and the military have not commented on the report.

Kidnapping remains a serious problem in Nigeria. Gunmen and militants attack schools, villages and roads, holding people captive for weeks or months until ransom is paid.

The SBM estimates that Boko Haram has collected about 7 billion naira. The bulk of this money came from two major attacks that killed more than 300 people each. In November, 315 students and staff were kidnapped from a school in Papiri, Niger State.

“The Papiri attack marks a new escalation in the targeting of schools, which is having a major impact on education, agriculture and public confidence,” the report said.

Security is expected to be a major issue in the January 2027 elections. President Bola Tinubu, who came to power three years ago, promised to provide security. But analysts say the new wave of attacks suggests that this policy has not had the desired effect.