Nigeria lost about N2.2 trillion to kidnapping ransoms between May 2023 and April 2024 — a figure that surpasses the country’s entire 2024 defence budget, according to the 8th Nigeria SDG 16 Shadow Report.
The report, themed “Leaving No One Behind: Anti-Corruption, Right to Information, and Justice for All,” was launched by the Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International (TI) Nigeria at a side event during the United Nations General Assembly in New York on Tuesday.
CISLAC’s Executive Director, who also serves as TI’s Nigeria Head, warned that the alarming ransom economy is undermining security, draining resources, and eroding trust in state institutions.
The report further highlighted the urgent need for stronger anti-corruption measures, justice sector reforms, and better access to information to tackle insecurity and protect citizens across Nigeria.
