Kidnappers across Nigeria collected an estimated N7.779 billion in ransom between July 2025 and June 2026, according to a report by SB Morgen intelligence.
The figure represents 34 per cent of the N22.856 billion demanded by kidnappers during the period, marking a significant increase from the 5.35 per cent ransom collection rate recorded in the previous reporting cycle.
The findings are contained in SBM Intelligence’s 2026 Economics of Nigeria’s Kidnap Industry report.
According to the report, although the total ransom demanded dropped from N48 billion in the previous cycle to N22.856 billion, the decline was largely influenced by an exceptional N30 billion ransom demand linked to the abduction of the Enuma sisters in Delta State.
SBM said the latest figures were driven less by isolated high-value kidnappings and more by mass abductions involving groups with greater leverage and the ability to secure substantial ransom payments.
### JAS accounts for 90% of ransom collected
The report identified the JAS faction and its allied cells as the dominant beneficiaries of ransom payments during the period, accounting for about N7 billion, or approximately 90 per cent of the N7.779 billion collected nationwide.
Two major mass-abduction incidents accounted for most of the amount.
In April 2026, a faction reportedly operating under Commander Ali Ngulde abducted 416 people in Ngoshe, Gwoza Local Government Area of Borno State, and demanded N5 billion within 72 hours.
SBM reported that the entire N5 billion was allegedly paid, making it the largest single ransom recorded in its dataset.
Earlier, in November 2025, gunmen abducted 315 pupils and staff of St Mary’s School in Papiri, Niger State.
The report said multiple intelligence sources estimated that N2 billion was paid for their release.
The two incidents therefore accounted for N7 billion, representing almost the entire ransom reportedly collected nationwide during the period under review.
SBM said the development showed a growing convergence between ideology and financial crime, a trend it had also identified in its previous report.
It noted that the dominance of the JAS faction in ransom collections suggested that designated terrorist organisations were increasingly becoming significant players in Nigeria’s kidnapping economy.
Unaffiliated kidnappers, including cases attributed to bandits, accounted for N719.4 million, representing about nine per cent of the total ransom paid, while the Islamic State West Africa Province (ISWAP) accounted for N53 million.
### Kwara records highest ransom demand
At the state level, Kwara recorded the highest ransom demand during the period, with N7.375 billion, representing 32.3 per cent of the national total.
SBM attributed much of the figure to a single N3.52 billion ransom demand linked to Boko Haram activity around Woro and Wawa.
Borno followed with N5.698 billion, while Kaduna, Edo and Kogi recorded N1.459 billion, N1.205 billion and N1.13 billion respectively.
However, the ranking changed when actual ransom payments were considered.
Borno topped the list with N5.0545 billion collected, accounting for about 65 per cent of the national total.
Niger followed with N2 billion, representing 25.7 per cent, while Kwara, Kaduna and Sokoto recorded N278.3 million, N64 million and N58 million respectively.
The five states accounted for 95.8 per cent of all ransom reportedly collected during the year, highlighting the impact of a few major mass-abduction incidents on the national figures.
### Some states record minimal ransom payments
At the lower end of the ransom-demand table were Kebbi with N5 million, Abia with N10 million, Akwa Ibom with N30 million, Sokoto with N50 million and Imo with N57.5 million.
SBM said some states recorded ransom demands of only a few million naira, with little or nothing reportedly paid at the time of its research.
The smallest ransom payments recorded were N70,000 in Cross River, N100,000 in Bauchi and N500,000 in Ebonyi.
The report said such relatively small payments could represent token settlements or hostage-release arrangements supplemented by non-cash items, including food and other supplies.
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