Kidnapping for ransom accounted for 40% of terrorist funding in Nigeria (2018-2024)

  • Kidnapping for ransom is the largest source of terrorist and bandit funding in Nigeria, accounting for 40%.
  • Resource extraction contributes 25%, highlighting the importance of illegal mining and natural-resource exploitation in sustaining armed groups.
  • Extortion makes up 15% of total funding, demonstrating the broad reach of coercive levies imposed on communities and businesses.
  • Illegal taxation (10%) remains a steady revenue stream.
  • External support accounts for 7%, indicating some level of international or cross-border backing for these groups.

Kidnapping for ransom accounted for a dominant 40% of all funding sources between 2018 and 2024; it was the most lucrative channel for armed groups, surpassing resource extraction, extortion, and other criminal activities. This shows how deeply entrenched ransom-based financing has become, revealing both the profitability and the operational reliance of violent groups on abductions across the country.

This funding pattern underscores why kidnapping has persisted, and in many cases escalated, despite increased security efforts.

Source:

Nigeria Risk Index

Period:

2018-2024
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