Between the period of July 2021 and June 2022, no fewer than 3,420 people were abducted across Nigeria, with 564 others killed in violence associated with abductions, according to a new report by an intelligence firm, SBM Intelligence.
The report, titled: ‘The Economic of Nigeria’s Kidnap Industry’, noted that in the same period, N6.5billion was demanded in exchange for the release of captives while a fraction of that sum (N653.7million) was paid as ransom. “These figures are particularly important because of the rising poverty levels in the country. In 2020, Nigerians spent 62 percent of their income on food, leaving very little for disposable income and nondiscretionary spending,” the report stated.
The report added that over the past few years, Nigerians have become even poorer, following how much they have had to part with for their loved ones. The kidnappers are adapting, and now sometimes ask for ransom payments in forms other than money.
The Africa-focused geo-political research and strategic communications consulting firm also disclosed that they did not include the later ransom payments for the Abuja-Kaduna train incident that happened in May, as most of those victims were released in July, 2022. Recall that it was reported, on July 25, that eight Nigerian hostages parted with N100 million each, while a Pakistani hostage paid N200 million.
For more than a decade, Nigeria’s numerous internal security crises such as mass abductions, kidnappings and violent crimes have intensified affecting economic growth in Nigeria particularly for agricultural sectors. Analysts at SBM said these abductions, which are also almost evenly distributed across the country, have an impact on the Nigerian economy, as it has limited business and investment in the heaviest-hit areas.
The report highlighted that the Islamic State in West Africa Province (ISWAP) and Boko Haram are most active in kidnappings in Borno State, where they often target travellers and aid workers.
