A new report by SBM Intelligence highlighting that 3,620 people were kidnapped within a one-year period in Nigeria has put the troubling trend of abductions in the country under a harsh spotlight.
The report released on August 23, 2023 noted that the abductions happened in 582 incidents across the country between July 2022 and June 2023.
570 people were killed in these kidnap-related incidents, with 430 of them civilians, 121 kidnappers, and 19 security operatives.
The kidnappers asked relatives of the victims for at least ₦5 billion in ransom payments, but only around ₦302 million was paid.
"However, this figure could be higher due to underreporting," SBM noted in the report titled The Economics of Nigeria's Kidnap Industry.
Nigeria has struggled with insecurity for years, with abductions for ransom reaching new heights under the administration of President Muhammadu Buhari who left office on May 29, 2023 after eight years.
The trend of abductions spread around the six geopolitical zones in the country, with the main culprits identified as bandits in the North West region. Other groups the report identified are Boko Haram, predominantly, in the North East, sea pirates, predominantly in the South South, armed separatists, predominantly in the South East, and criminal youth gangs across the zones.
"Ransom payments have become the dominant motivation for kidnapping due to Nigeria's struggling economy, rising inflation and high unemployment rates," the report noted.
Kidnappers are also known to ask for non-monetary ransoms like foodstuff, especially in the North West and North Central zones where they also demanded motorcycles as part of ransom payments.
The SBM report noted that the North Central saw higher ransom amounts demanded, notably in Nasarawa, where targeted abductions yielded maximum ransom with minimal resistance.
"Statewise, Edo kidnappers sought high ransoms but received little. On the other hand, Taraba paid the most, primarily due to a single case," the report said.
The data also showed Nigerians are most vulnerable to abductions in Kaduna, Niger or Zamfara, the three states that recorded the highest per capita abduction rates and deaths during kidnap attempts.
Since he replaced Buhari in May, President Bola Tinubu has made sweeping statements about tackling insecurity in Nigeria, but the report noted that the kidnap industry's profitability currently outweighs the perceived threat of state intervention.
His ongoing struggles with stabilising the economy and optimising it for growth are likely to worsen the situation.
"The current economic difficulties, such as high inflation and a weak currency, would lead to more desperation and a hike in ransom demands, leaving impoverished families struggling to save their loved ones."
SBM recommended that efforts to combat kidnapping must be comprehensive and address the root causes and consequences alike.
The data for the report was compiled through one-on-one interviews, desk research and polling to collate the available data.