Nigeria, Aug. 28 -- Experts in the development sector have explained why kidnapping for ransom continues to thrive in Nigeria, especially in the northern part of the country.

Their views follow a new report by SB Morgen (SBM) Intelligence, which revealed that kidnappers demanded over N48 billion between July 2024 and June 2025. However, only N2.57 billion was actually paid.

The report, titled "Economics of Nigeria's Kidnap Industry," also disclosed that at least 4,722 people were kidnapped in 997 incidents, with 762 killed during the same period.

Dr. Umar Yakubu, Executive Director of the Center for Fiscal Transparency and Public Integrity, said poverty, illiteracy, and weak human capital development, especially in the Northwest, are k...