Kidnappers operating in different parts of Nigeria collected an estimated ₦7.779 billion in ransom payments between July 2025 and June 2026, according to a report by SBM Intelligence.

The figure represents about 34 per cent of the ₦22.856 billion ransom demanded by kidnappers during the 12-month period.

SBM Intelligence, an Africa-focused intelligence and strategic consulting firm, disclosed this in its latest report titled “The Economics of Nigeria’s Kidnap Industry 2026.”

The report indicated a significant increase in the proportion of ransom demands that were actually paid compared with the previous reporting period, when only about 5.35 per cent of the ransom demanded was reportedly collected.

It also noted that the total ransom demanded during the latest period declined considerably from the previous figure of ₦48 billion.

According to SBM Intelligence, however, the earlier figure was significantly influenced by a ₦30 billion ransom demand following the abduction of the Enuma sisters in Delta State.

The firm said the latest statistics were largely shaped by mass kidnappings involving groups capable of abducting and holding hundreds of people at once.

“The figures this year were driven mainly by large-scale abductions involving groups capable of holding hundreds of victims and exerting enough pressure to secure huge ransom payments,” the report stated.

The JAS faction and its allied groups emerged as the biggest beneficiaries of ransom payments during the period, reportedly receiving about ₦7 billion, representing roughly 90 per cent of the total ransom paid nationwide.

Two major mass abductions accounted for most of the amount.

In April 2026, a faction reportedly led by commander Ali Ngulde abducted 416 people in Ngoshe, Gwoza Local Government Area of Borno State.

The abductors reportedly issued a 72-hour deadline and demanded ₦5 billion for the victims’ release. SBM Intelligence said the entire amount was reportedly paid, making it the largest single ransom payment documented in its database.

Another major incident occurred in November 2025, when gunmen abducted 315 pupils and staff members of St Mary’s School in Papiri, Niger State.

The report said intelligence sources estimated that approximately ₦2 billion was paid before the victims were released.

SBM Intelligence observed that the two incidents alone accounted for about ₦7 billion, or nearly 90 per cent of all ransom payments recorded across the country during the period.

The firm warned that the figures point to an increasingly troubling connection between terrorism and kidnapping for financial gain.

“The dominance of the JAS faction in ransom collections suggests that groups designated as terrorist organisations are becoming increasingly involved in Nigeria’s kidnapping economy,” SBM stated.

Groups unaffiliated with the major terrorist factions, including those linked to banditry, reportedly collected ₦719.4 million, while ISWAP accounted for about ₦53 million.

At the state level, Kwara recorded the highest ransom demand, with kidnappers demanding approximately ₦7.375 billion, representing 32.3 per cent of the national total.

SBM said a significant portion of the demand was linked to a single ₦3.52 billion ransom demand associated with Boko Haram activities around Woro and Wawa.

Borno State followed with ₦5.698 billion, while Kaduna recorded ₦1.459 billion. Edo and Kogi recorded ₦1.205 billion and ₦1.13 billion respectively.

However, the ranking changed when actual ransom payments were considered.

Borno State recorded the highest amount paid at ₦5.0545 billion, followed by Niger with ₦2 billion and Kwara with ₦278.3 million. Kaduna and Sokoto recorded ₦64 million and ₦58 million respectively.

The five states collectively accounted for 95.8 per cent of the total ransom reportedly paid nationwide during the period.

SBM Intelligence said the figures demonstrate how a small number of large-scale kidnappings can dramatically influence Nigeria’s overall ransom statistics.

“Such incidents can significantly affect the country’s overall ransom statistics,” the firm noted.

Meanwhile, some states recorded comparatively low ransom demands. Kebbi recorded ₦5 million, followed by Abia with ₦10 million, Akwa Ibom with ₦30 million, Sokoto with ₦50 million and Imo with ₦57.5 million.

The report also documented some of the smallest ransom payments, including ₦70,000 in Cross River, ₦100,000 in Bauchi and ₦500,000 in Ebonyi.

According to SBM, the relatively small payments may have represented token settlements or situations where abductors accepted food, supplies or other forms of assistance in exchange for the release of victims.

The report ultimately highlighted the growing financial dimension of kidnapping in Nigeria and the extent to which mass abductions can generate substantial income for criminal and terrorist groups.