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Nigerian Victims Pay N1 Billion in Ransoms as Kidnapping Incidents Soar

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N1.048 billion has been paid in ransoms to kidnappers across Nigeria between July 2023 and June 2024, according to a new report by SBM Intelligence titled “Grim Reaping.”

The report sheds light on the escalating kidnapping crisis in Nigeria, where economic pressures and insecurity have driven more individuals toward criminal activities, specifically abductions for ransom.

The report reveals that kidnappers demanded a total of N10.99 billion from their victims over the past year, but only about 9.5% of this amount was paid.

Despite paying over a billion naira in ransoms, the reality remains bleak as kidnapping incidents continue to rise.

During the 12 months, at least 7,568 people were abducted in 1,130 incidents nationwide. The states of Zamfara, Kaduna, and Katsina have been the hardest hit, reporting the highest number of both incidents and victims.

Zamfara recorded 132 kidnapping incidents with 1,639 victims, Kaduna had 113 incidents involving 1,113 victims, and Katsina reported 119 incidents with 887 victims.

More troubling still is the rising lethality of these abductions. The report states that kidnapping incidents now result in fatalities with greater frequency, leading to the deaths of 1,056 civilians over the past year. The growing violence has compounded the national sense of insecurity.

The report also highlights that the Federal Capital Territory (FCT), Lagos, and Kaduna recorded the highest ransom demands.

Also, the Southeast leads the amounts paid and the number of successful ransom collections.

Interestingly, kidnappers have increasingly sought in-kind payments, which vary regionally. In the southern parts of the country, demands often include food, drinks, and cigarettes.

In the northern regions, motorcycles have become a preferred payment option. This shift reflects the deepening poverty and desperation driving criminality across the country.

Women are being targeted at a higher rate than men, the report notes, particularly in the northern states.

The number of kidnapping incidents in the North has spiked dramatically, far surpassing the combined totals of the previous two years. This sharp escalation indicates that the situation is spiraling out of control.

Economic hardship is also exacerbating the security situation. Many farmers in northern Nigeria are forced to pay ransoms just to access their farmlands. According to the report, over 1,356 farmers have been kidnapped across the country since 2020, while others have been required to pay “protection fees” to harvest their crops.

These payments, often amounting to N100,000 per farmer, have further worsened the country’s food security crisis. Food inflation has soared to 40%, the highest rate in nearly 30 years.

Nigeria’s kidnapping crisis has become an unrelenting threat, and without swift, coordinated efforts from the government to restore security and create economic opportunities, the situation is likely to continue deteriorating.

The report shows ransom payments are only a symptom of the wider economic malaise and insecurity gripping the nation.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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BREAKING: Sowore Released Few Minutes After His Arrest at MMA

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Omoyele Sowore - Investors King

Nigerian activist and former presidential candidate Omoyele Sowore was briefly detained by the Department of State Services (DSS) this morning at Murtala Muhammed International Airport in Lagos upon his return from the United States.

His passport was confiscated as part of a broader crackdown by the government in light of planned protests under the #EndBadGovernance protest. However, after a short period, Sowore was released.

“I have just been released. My passport and everything have been returned to me,” Sowore told reporters after his release.

Sowore had been with his family in the United States.

His flight left the Washington Dulles International Airport at 6.14 EDT and arrived in Lagos at around 9.43 WAT.

More Details Shortly…

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FG Begins Distribution of CNG Conversion Kits to Ogun Commercial Drivers

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The Presidential Compressed Natural Gas Initiative (P-CNGi) on Saturday began inspection, distribution and installation of CNG kits to commercial motorists in Ogun.

Five hundred CNG cylinders and kits were distributed to three centres in the state.

Speaking at one of the conversion centres in Abeokuta, Olugboyegba Ademehin, the director of Vehicle Inspection Services at the state Ministry of Transportation, said the main concern was to first inspect vehicles fit for conversion.

Mr Ademehin said any vehicle certified okay for conversion would be given a kit for onward conversion.

He said 60 cylinders, comprising 10 units of 75 litres and 50 units of 65 litres cylinder kits, would be distributed at the Ogun Public Works Agency, Agbeloba Centre.

According to him, the 75-litre cylinder can cover up to 150 kilometres of a journey.

He said the centre would cater for other public members in the coming months.

Speaking on safety, Mr Ademehin said the cylinders were moulded and not welded, hence, the thickness, which assured of its strength and fireproof properties.

He said the cylinders, with 60 millimetres thickness, had been certified by the Standards Organisation of Nigeria (SON).

The director said there were two filling stations for the CNG in Abeokuta.

“We, in Ogun state, through the initiative of the governor, have begun conversion before now because we prioritise the cleaner environment, and that is why we have our CNG buses that have been plying the city.

“We didn’t even know that petrol would be this expensive, and CNG is cheap and cost-effective for motorists, and of course, eases transportation costs for the masses,” he said.

Also speaking, Ali, the operations manager of Nigerian Gas and Transport Solutions Ltd., noted that the gas industry was still underutilised in Nigeria.

Mr Manager expressed optimism that the CNG initiative would ensure that the country maximised the potential of natural gas resources.

In his remarks, Ismail Adewale, chairman of the National Union of Transport Workers (NURTW) in Ogun, commended the federal government for the initiative.

(NAN)

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Ethiopian Airlines Expands African Reach with a New Port Sudan Service

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Ethiopian Airlines is delighted to announce the launch of a daily flight service to Port Sudan, Sudan, commencing on October 15, 2024.

This strategic expansion further strengthens Ethiopian’s commitment to enhancing connectivity across the African continent and beyond, fostering regional socio-economic growth and facilitating trade and tourism.

The new route will provide seamless travel options for passengers traveling between Ethiopia and Sudan, as well as connecting travelers from across the vast Ethiopian Airlines network to this significant Red Sea port city.

The introduction of this service underscores Ethiopian’s dedication to serving the evolving needs of the African market and contributing to the continent’s economic development. By connecting Port Sudan to
its extensive global network, Ethiopian Airlines aims to unlock new opportunities for businesses, travelers, and communities, promoting cross-border collaboration and cultural exchange.

The inaugural flight, ET350, will depart from Addis Ababa at 11:00 and arrive in Port Sudan at 12:15. The return flight, ET 351, will leave Port Sudan at 14:15, arriving back in Addis Ababa at 17:30. Both flights will be operated by the state-of-the-art Boeing 737 Max aircraft, ensuring a comfortable and reliable journey.

“We are pleased to connect our Sudanese brothers and sisters from Port Sudan to Addis Ababa,
and to the rest of the world using our extensive global network,” says Mesfin Tasew, Group CEO of Ethiopian Airlines.

“By introducing daily flights to Port Sudan, we are bridging cultures and economies. This expansion is a testament to our unwavering dedication to serve our continent and its people, driving progress and prosperity through the skies.”

With the inclusion of Port Sudan, Ethiopian Airlines expands its network to 66 destinations within Africa. The inauguration of this new route emphasizes Ethiopian Airlines’ dedication to broadening its presence throughout Africa, while simultaneously enhancing connectivity for both business and leisure travelers.

Port Sudan, a city strategically situated along the Red Sea, acts as an essential center for commerce and economics in the region. This development offers a gateway to the diverse cultural
history and burgeoning economic prospects of Sudan.

Ethiopian Airlines invites passengers to experience the warmth and hospitality of its newest destination, Port Sudan. Book your journey today and be part of the growth story that is Ethiopian Airlines – the New Spirit of Africa.

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