A newly released report by SBM Intelligence sheds light on the economic repercussions of the escalating kidnapping cases in Abuja, Nigeria’s capital city. Titled ‘Inside Nigeria\u2019s Hostage Capital: Unraveling the Economic Impact of Abuja\u2019s Kidnap Epidemic,’ the report, unveiled on Thursday, underscores a significant downturn in economic activities by 33 per cent, attributing it to the prevailing atmosphere of insecurity.<\/p>\n
The surge in kidnapping incidents has left residents apprehensive about their safety, contributing to an increase in minor thefts, ‘One Chance’ robberies, armed robberies, and home break-ins. SBM Morgen’s report indicates a rapid deterioration in the security situation in Abuja.<\/p>\n
To understand the economic impact, SBM Intelligence conducted in-depth interviews with residents across various locations in Abuja and analyzed news reports detailing kidnapping incidents. The findings revealed a 10 to 50 per cent rise in rent in upscale areas, causing a decline in property values, especially in affected regions like Bwari.<\/p>\n
Transportation fares have surged by 100 to 250 per cent due to the crisis, impacting residents who now face increased transportation expenses, particularly within the city center. The widely used public transport service, ‘Along,’ has become a hotspot for ‘One Chance’ operatives, leading residents to opt for more secure alternatives such as Bolt and Uber.<\/p>\n
The economic downturn extends to nightlife, with night markets, hangout spots, and recreational spots experiencing a 33 per cent decline in activities. Many city workers, concerned about kidnapping, now prefer to head straight home instead of engaging in late-night shopping or recreation.<\/p>\n
SBM Intelligence also highlighted increased expenditure on security systems and personnel, imposing additional strain on personal and corporate budgets. The report recommends urgent government intervention to apprehend perpetrators, improve public transportation security, and establish ongoing dialogues with the community.<\/p>\n
Additionally, the report suggests the introduction of a governor or mayor with autonomous executive powers separate from the federal government to enhance accountability and prompt the adoption of protective measures. The data revealed that approximately 283 individuals were abducted between January 15, 2023, and January 15, 2024, fueling tensions in and around Abuja.<\/p>\n","protected":false},"excerpt":{"rendered":"
A newly released report by SBM Intelligence sheds light on the economic repercussions of the escalating kidnapping cases in Abuja, Nigeria’s capital city. Titled ‘Inside Nigeria\u2019s Hostage Capital: Unraveling the Economic Impact of Abuja\u2019s Kidnap Epidemic,’ the report, unveiled on Thursday, underscores a significant downturn in economic activities by 33 per cent, attributing it to […]<\/p>\n","protected":false},"author":11,"featured_media":18123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[59],"class_list":["post-18120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=18120"}],"version-history":[{"count":4,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18120\/revisions"}],"predecessor-version":[{"id":18163,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18120\/revisions\/18163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/18123"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=18120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=18120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=18120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}