Nigerians Paid ₦2.23 Trillion to Kidnappers in One Year, Exceeding Budgets of Many States — NBS

ABUJA, Nigeria — Nigerians paid an estimated ₦2.23 trillion in ransom to kidnappers within a single year, a staggering amount that surpasses the annual budgets of many Nigerian states and underscores the enormous economic burden imposed by the country's worsening insecurity.

The alarming figure was disclosed by the National Bureau of Statistics (NBS) in its Crime Experience and Security Perception Survey, which examined crime trends across the country between May 2023 and April 2024.

According to the report, approximately 65 percent of households affected by kidnapping were compelled to pay ransom to secure the release of their loved ones. The average ransom payment stood at about ₦2.67 million, while the cumulative amount paid nationwide reached an estimated ₦2.23 trillion.

The revelation paints a troubling picture of the growing kidnapping economy that has emerged across Nigeria, particularly in rural communities where security challenges remain acute. The NBS estimated that more than 2.23 million kidnapping incidents occurred during the period under review, affecting over one million households nationwide. Rural areas accounted for the majority of the incidents.

The amount paid to kidnappers is larger than the annual budgets of several Nigerian states, highlighting how criminal networks are extracting vast sums from citizens and communities. Analysts warn that such enormous ransom payments not only impoverish families but also provide financial resources that can sustain criminal operations and fuel further insecurity.

The survey further revealed that kidnapping has become one of the most devastating crimes confronting Nigerian households. More than 90 percent of kidnapping incidents were reportedly motivated by demands for money, goods, or other benefits.

Beyond kidnapping, the NBS recorded approximately 51.89 million crime incidents across Nigerian households during the one-year period. These included livestock theft, crop theft, home robbery, burglary, vehicle theft, murder, and other violent crimes. More than half of all reported crimes occurred in rural communities.

The report also exposed a significant trust deficit between citizens and law enforcement agencies. Only a fraction of crime victims reported incidents to the police, with many citing doubts about effective intervention and concerns over the outcome of investigations.

The findings come despite trillions of naira allocated to security institutions over recent years. Security experts argue that the latest statistics demonstrate the urgent need for stronger intelligence gathering, community policing, improved rural security infrastructure, and more effective coordination among security agencies.

For many Nigerians, however, the figures represent more than statistics. Behind the ₦2.23 trillion ransom economy are countless families forced to sell property, exhaust savings, borrow heavily, or plunge into poverty in desperate attempts to secure the freedom of abducted relatives.

As kidnapping continues to spread across parts of the country, the NBS report raises fresh questions about the effectiveness of current security strategies and the growing economic cost of insecurity on ordinary Nigerians.