Many Nigerians were stunned on Tuesday when the latest Crime Experience and Security Perception Survey report by the National Bureau of Statistics became public.
The NBS told the world that Nigerian households paid a total of N2.23trn as ransom over the last 12 months between May 2023 and April 2024, and that an estimated number of 51.89 million crime incidents were recorded within the stated period.
The report left many citizens tongue-tied.
According to the NBS, 65 percent of households affected by kidnapping incidents resorted to paying ransoms to secure the release of victims. On average, each household paid N2.67 million.
Nationally, an estimated 51,887,032 crime incidences were experienced by households.
The North West with about 14,402,254 reported the highest incidences of crime at household level, followed by North Central (8,771,400), while South East (6,176,031) reported the least.
The report also shows that the crime incidence in the rural area, which stood at 26,526,069, was higher than that of the urban area at 25,360,963 incidents reported.
The total ransom paid over the 12-month period is also equivalent to 8.2 percent of Nigeria’s total federal budget for 2024, which stands at N28.8 trillion.
The insecurity in Nigeria is getting more serious. Kidnapping has become a huge and lucrative business as many families are paying hefty ransoms to free their kidnapped relatives.
It is simply troubling that a nation that is not at war would be having such a staggering number of abductions in one year.
If the NBS report is anything to go by, it would be safe to say that it made nonsense of the claim by some state governors and even the military that thousands of bandits and other insurgents have given up criminality.
While the efforts of the NBS should be commended for bringing to the fore the harm that insecurity is doing to Nigeria, it is also expedient to remind the security agencies that there must be a new tactic to fight the battle.
“The Federal Government must ensure that it reduces the high level of hunger in the land through policies that have a human face. A country where 51.89 million crime incidents, as captured by the NBS, occurred in just one year is simply scandalous.”
With the total N4.76 trillion budget for security and defence for next year, efforts must be made to put the huge figure into proper use.
It has been established that the extreme hunger being experienced in Nigeria is driving many citizens into all manner of criminality. People are said to be lured into dangerous groups for a mere portion of portage.
The Federal Government must ensure that it reduces the high level of hunger in the land through policies that have a human face. A country where 51.89 million crime incidents, as captured by the NBS, occurred in just one year is simply scandalous.
It would be unfortunate if, at the end of 2025, the NBS comes up again with a damning figure of paid ransom and kidnapped citizens.
The NBS report shows the effect of the kidnapping crisis on the nation’s economy.
This is one of the reasons why poverty is deepening in the country as many families are struggling to raise money to rescue their loved ones in the hands of criminals. So, they do not really have much to take care of themselves and pay school fees and take care of the health of their loved ones.
It is also contributing to the escalation of criminal activities because people know that when they do this, they get money and it appears that they are succeeding in this criminality.
It must be stated that the security forces have failed to safeguard Nigerians from such criminals, forcing citizens to pay heavy ransoms to secure the release of their loved ones.
It is a shame for Nigerian security to have failed in its main occupation, which is to protect lives and property of the citizens.
Ransom payments are having destructive impacts on Nigeria’s economy, because the majority of these funds circulate within the shadow economy, meaning that they are outside the formal financial systems and do not contribute to national development through taxation or other legal channels.
This unregulated flow of funds is undermining economic stability and destroying the economy.
It also leads to increased criminality because most of them are youths. The more they see the perpetrators enjoying the proceeds of their crime, the more they will also be tempted to go into it.
Ransom payments also enable the proliferation of small arms and light weapons, as criminals use the proceeds to acquire more sophisticated tools to sustain and escalate their activities. This, in turn, worsens insecurity across the country.
It is worrisome that Nigeria’s cashless policy, which could have helped trace ransom payments, is not fully implemented or monitored.
The cashless policy that has been declared is not fully implemented; it is not fully complied with, and so that makes it very difficult to monitor transactions.
Addressing the multifaceted drivers of kidnapping requires a comprehensive approach that tackles root causes while strengthening law enforcement.
By addressing these underlying factors, policymakers can work towards creating safer and more secure communities and mitigate the pervasive threat of kidnapping in the country.
The economic impact of kidnapping is multifaceted and far-reaching. The tourism and hospitality industry experiences a significant downturn, with fewer tourist visits and hotel bookings observed, alongside adverse effects on restaurants, entertainment venues, and other hospitality businesses.
There is a notable decline in business investment and expansion across the country as businesses express reluctance to invest or expand operations due to security concerns, ultimately affecting job creation and hindering economic growth.
Daily economic activities are disrupted as fear of kidnapping prompts changes in consumer behaviour, with individuals avoiding certain areas or activities perceived as high-risk, further exacerbating the economic challenges faced in the country.
The Federal Government must prioritize public safety and security, invest in effective law enforcement strategies, intelligence gathering, and crisis response capabilities and mitigate the adverse effects of kidnapping and promote sustainable economic growth and development.
