Nigeria recorded about 2.2 million kidnapping incidents with an estimated ₦2.2 trillion paid as ransom within one year, a security expert, Prof. Oyesoji Aremu, has disclosed, warning that the country is sliding into a dangerous “ransom economy.”
Aremu made the disclosure while delivering a public lecture organised by the Social Sciences Students’ Association at Adekunle Ajasin University, Ondo State, where he painted a grim picture of the nation’s worsening security crisis and its toll on citizens and the economy.
The professor, who is the Acting Vice-Chancellor of Achievers University, Owo, cited data attributed to the National Bureau of Statistics and reported in December 2024, noting that kidnapping has evolved into a structured criminal enterprise driven by bandits, insurgents and organised syndicates.
He said, “The scale of kidnappings and the volume of ransom payments point to the emergence of a thriving criminal economy, with devastating consequences for families, communities and national development.”
Aremu further highlighted Nigeria’s poor global security rankings, noting that the country is ranked 142 out of 143 on the World Justice Project Rule of Law Index, 148 out of 163 on the Global Peace Index, and fifth globally on the Global Terrorism Index.
According to him, the rankings reflect a sustained decline in safety, governance and investor confidence.
Tracing the roots of the crisis, the don linked the current insecurity to historical conflicts such as the Nigerian Civil War, Maitatsine uprisings, Niger Delta militancy and the Boko Haram insurgency, which he said worsened due to ignored early warning signs.
He added that the fragmentation of extremist groups, including ISWAP, alongside the rise of banditry and illegal mining, has further complicated security operations across the country.
The professor also identified vast ungoverned forests such as Sambisa, Alagarno, Kamuku, Kuyambana, Kuduru and Old Oyo National Park as major hideouts for criminal elements, describing them as evidence of weak state presence in remote areas.
He expressed concern over recurring attacks on schools, citing incidents in Chibok, Dapchi, Kagara and Greenfield, as well as recent threats in parts of Oyo State, which he said underscore lapses in intelligence gathering and preventive security.
Aremu blamed the situation partly on poor coordination among security agencies, warning that inter-agency rivalry and a persistent blame game have undermined effective response to threats.
To curb the crisis, he called for the establishment of state police, improved community-based intelligence, stronger collaboration among security agencies, coordinated surveillance across states and the deployment of forest guards to secure ungoverned spaces.
In his remarks, the Vice-Chancellor of Adekunle Ajasin University, Prof. Olugbenga Ige, represented by the Deputy Vice-Chancellor (Academic), Prof. Adebisi Daramola, described the lecture as timely, noting that insecurity remains a major challenge to Nigeria’s development.
Similarly, the Dean of the Faculty of Social Sciences, Prof. Adesuyi Adebukola, stressed the need for sustained collaboration among stakeholders to address the country’s deepening security challenges.
FOLLOW US
FOR MORE HERE
