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Ransomware Recovery Cost Reaches Nearly $2 Million- Sophos Survey Shows
Sophos, a global leader in next-generation cybersecurity, today announced the findings of its global survey, “The State of Ransomware 2021,” which reveals that the average total cost of recovery from a ransomware attack has more than doubled in a year, increasing from $761,106 in 2020 to $1.85 million in 2021.
The average ransom paid is $170,404. The global findings also show that only 8% of organizations managed to get back all of their data after paying a ransom, with 29% getting back no more than half of their data.
The survey polled 5,400 IT decision makers in mid-sized organizations in 30 countries across Europe, the Americas, Asia-Pacific and Central Asia, the Middle East, and Africa.
While the number of organizations that experienced a ransomware attack fell from 51% of respondents surveyed in 2020 to 37% in 2021, and fewer organizations suffered data encryption as the result of a significant attack (54% in 2021 compared to 73% in 2020), the new survey results reveal worrying upward trends, particularly in terms of the impact of a ransomware attack.
“The apparent decline in the number of organizations being hit by ransomware is good news, but it is tempered by the fact that this is likely to reflect, at least in part, changes in attacker behaviors,” said Chester Wisniewski, principal research scientist, Sophos. “We’ve seen attackers move from larger scale, generic, automated attacks to more targeted attacks that include human hands-on-keyboard hacking. While the overall number of attacks is lower as a result, our experience shows that the potential for damage from these more advanced and complex targeted attacks is much higher. Such attacks are also harder to recover from, and we see this reflected in the survey in the doubling of overall remediation costs.”
The main findings of the State of Ransomware 2021 global survey include:
· The average cost of remediating a ransomware attack more than doubled in the last 12 months. Remediation costs, including business downtime, lost orders, operational costs, and more, grew from an average of $761,106 in 2020 to $1.85 million in 2021. This means that the average cost of recovering from a ransomware attack is now 10 times the size of the ransom payment, on average
· The average ransom paid was $170,404. While $3.2 million was the highest payment out of those surveyed, the most common payment was $10,000. Ten organizations paid ransoms of $1 million or more
· The number of organizations that paid the ransom increased from 26% in 2020 to 32% in 2021, although fewer than one in 10 (8%) managed to get back all of their data
“The findings confirm the brutal truth that when it comes to ransomware, it doesn’t pay to pay. Despite more organizations opting to pay a ransom, only a tiny minority of those who paid got back all their data,” said Wisniewski.
“This could be in part because using decryption keys to recover information can be complicated. What’s more, there’s no guarantee of success. For instance, as we saw recently with DearCry and Black Kingdom ransomware, attacks launched with low quality or hastily compiled code and techniques can make data recovery difficult, if not impossible.”
· More than half (54%) of respondents believe cyberattacks are now too advanced for their IT team to handle on their own
· Extortion without encryption is on the rise. A small, but important 7% said that their data was not encrypted, but they were held to ransom anyway, possibly because the attackers had managed to steal their information. In 2020, this figure was 3%
“Recovering from a ransomware attack can take years and is about so much more than just decrypting and restoring data,” said Wisniewski. “Whole systems need to be rebuilt from the ground up and then there is the operational downtime and customer impact to consider, and much more. Further, the definition of what constitutes a ‘ransomware’ attack is evolving. For a small, but significant minority of respondents, the attacks involved payment demands without data encryption.
“This could be because they had anti-ransomware technologies in place to block the encryption stage or because the attackers simply chose not to encrypt the data. It is likely that the attackers were demanding payment in return for not leaking stolen information online. A recent example of this approach involved the Clop ransomware gang and a known financially-motivated threat actor hitting around a dozen alleged victims with extortion-only attacks.
“In short, it is more important than ever to protect against adversaries at the door, before they get a chance to take hold and unfold their increasingly multi-faceted attacks. Fortunately, if organizations are attacked, they don’t have to face this challenge alone. Support is available 24/7 in the form of external security operations centers, human-led threat hunting and incident response services.”
The main findings of the State of Ransomware 2021 for Nigeria:
· 22% of respondents from Nigeria had experienced a ransomware attack in the last 12 months, compared to 53% in 2020
· 39% of respondents from Nigeria that weren’t hit by ransomware in the last 12 months but expect to be hit in the future, believe that ransomware attacks are getting increasingly hard to stop due to their sophistication
· 26% of respondents from Nigeria that weren’t hit by ransomware in the last 12 months but expect to be hit in the future, say it is hard to stop their users from compromising the organization’s security
Sophos recommends the following six best practices to help defend against ransomware and related cyberattacks:
1. Assume you will be hit. Ransomware remains highly prevalent. No sector, country or organization size is immune from the risk. It’s better to be prepared, but not hit, rather than the other way round
2. Make backups and keep a copy offline. Backups are the main method organizations surveyed used to recover their data after an attack. Opt for the industry standard approach of 3:2:1 (three sets of backups, using two different media, one of which is kept offline)
3. Deploy layered protection. As more ransomware attacks also involve extortion, it is more important than ever to keep adversaries out in the first place. Use layered protection to block attackers at as many points as possible across an estate
4. Combine human experts and anti-ransomware technology. The key to stopping ransomware is defense in depth that combines dedicated anti-ransomware technology and human-led threat hunting. Technology provides the scale and automation an organization needs, while human experts are best able to detect the tell-tale tactics, techniques and procedures that indicate an attacker is attempting to get into the environment. If you don’t have the skills in house, look at enlisting the support of a specialist cybersecurity company – Security Operation Centers (SOCs) are now realistic options for organizations of all sizes
5. Don’t pay the ransom. Easy to say, but far less easy to do when an organization has ground to a halt due to a ransomware attack. Independent of any ethical considerations, paying the ransom is an ineffective way to get data back. If you do decide to pay, bear in mind that the adversaries will restore, on average, only two-thirds of your files
6. Have a malware recovery plan. The best way to stop a cyberattack from turning into a full breach is to prepare in advance. Organizations that fall victim to an attack often realize they could have avoided significant financial loss and disruption, if they had an incident response plan in place
The State of Ransomware 2021 survey report is available in full on Sophos.com.
The State of Ransomware 2021 survey was conducted by Vanson Bourne, an independent specialist in market research, in January and February 2021. The survey interviewed 5,400 IT decision makers in 30 countries, in the US, Canada, Brazil, Chile, Colombia, Mexico, Austria, France, Germany, the UK, Italy, the Netherlands, Belgium, Spain, Sweden, Switzerland, Poland, the Czech Republic, Turkey, Israel, UAE, Saudi Arabia, India, Nigeria, South Africa, Australia, Japan, Singapore, Malaysia, and the Philippines. All respondents were from organizations with between 100 and 5,000 employees.
Sophos Intercept X protects users by detecting the actions and behaviors of ransomware and other attacks.
National Information Technology Development Agency (NITDA) has reiterated the Federal Government’s commitment to leveraging innovation, digital skills, and emerging technologies to accelerate Nigeria’s transition into a globally competitive digital economy.
NITDA
This commitment was reaffirmed at the Port Harcourt Tech Expo 2026, held at the EUI Centre, Port Harcourt, Rivers State, where NITDA participated as a key stakeholder in discussions aimed at advancing technology-driven economic growth and innovation across Nigeria.
Dr. Kashifu Inuwa Abdullahi, CCIE, Director-General/Chief Executive Officer of NITDA, who is represented by the Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, delivered the Opening Keynote Address at the two-day event themed “Syntropy: Collective Futures – Systems, Solutions, Synergy and Societies.”
Addressing policymakers, technology leaders, startup founders, investors, academics, development partners, and young innovators, Kashifu emphasized that the future of Nigeria’s prosperity would increasingly be determined by its ability to harness technology, innovation, and human capital rather than reliance on natural resources.
According to him, the global digital economy presents unprecedented opportunities for Africa and Nigeria to create jobs, attract investments, and improve productivity through emerging technologies such as Artificial Intelligence (AI), data analytics, cloud computing, cybersecurity, and digital platforms.
“The future is not something we inherit; it is something we build. Nigeria’s greatest resource is not oil but its people. Our ability to develop digital talent, foster innovation, and create enabling ecosystems will determine our competitiveness in the digital age,” he stated.
He noted that AI and digital technologies are rapidly transforming industries across the world and urged stakeholders to embrace innovation as a catalyst for economic diversification and sustainable development.
He further highlighted NITDA’s ongoing implementation of the Strategic Roadmap and Action Plan (SRAP 2.0), which focuses on digital literacy, emerging technologies, innovation, cybersecurity, digital infrastructure, and inclusive economic growth.
The keynote also underscored the need for stronger collaboration among government, industry, academia, development partners, and the startup ecosystem to unlock the immense potential of Nigeria’s youthful population.
The Port Harcourt Tech Expo brought together a broad spectrum of stakeholders to deliberate on issues relating to Artificial Intelligence, startup development, digital skills, innovation financing, technology adoption, entrepreneurship, and ecosystem growth.
Participants explored opportunities for positioning the Niger Delta as a major hub for technology, innovation, and digital entrepreneurship while discussing strategies for addressing challenges related to skills development, startup financing, infrastructure, and technology commercialization.
During the event, NITDA engaged with technology companies, startups, innovation hubs, academic institutions, and development partners on potential areas of collaboration aimed at advancing digital inclusion and innovation-led development.
The Agency also used the platform to amplify the several of its flagship initiatives, including the Digital Literacy for All (DL4ALL) programme, the National Centre for Artificial Intelligence and Robotics (NCAIR), and programmes under the Office for Nigerian Digital Innovation (ONDI).
Observers at the event commended NITDA’s leadership in driving Nigeria’s digital transformation agenda and noted the growing impact of the Agency’s interventions in supporting startups, promoting digital literacy, and strengthening the country’s innovation ecosystem.
The Expo concluded with a renewed commitment by stakeholders to deepen collaboration, support innovation, and create opportunities for young Nigerians to participate actively in the digital economy.
As Nigeria continues its digital transformation journey, NITDA reaffirmed its commitment to fostering partnerships, developing talent, enabling innovation, and creating a technology-driven economy that delivers sustainable prosperity for all citizens.
Mr Khalil Suleiman Halilu, executive vice chairman and chief executive officer of the National Agency for Science and Engineering Infrastructure (NASENI), has reaffirmed the Agency’s commitment to strengthening Nigeria’s healthcare sovereignty through local manufacturing of medical diagnostic technologies.
L-R: CEO/Co-Founder, NASENI-Troment Biotechnologies Limited, Dr. Selim Hani; Team Lead, Science of Defeating Malaria initiative, Professor Dyann F. Wirth; EVC/CEO of NASENI, Khalil Suleiman Halilu; and Dr. Sami Hani, Board Member, NASENI-Troment Biotecnnologies during the dinner organized for the delegates of the initiative in Abuja at the weekend.
Halilu made the remark while hosting participants of the Harvard University-led Science of Defeating Malaria programme at a closing dinner in Abuja at the weekend, following their visit to the NASENI-TROMENT Biotechnologies Factory, where they commended the facility’s role in advancing disease control and healthcare innovation in Africa.
The delegation, led by Professor Dyann F. Wirth of Harvard University and comprising about 85 global health professionals, scientists and policymakers, toured the state-of-the-art facility and described it as a significant step towards combating malaria and other infectious diseases across the continent.
Speaking at the dinner, Halilu noted that the commendation further validated the vision behind the NASENI-TROMENT Biotechnologies Factory, a strategic project initiated 18 months ago to reduce Nigeria’s dependence on imported diagnostic kits and strengthen local healthcare manufacturing capacity.
He explained that the facility is designed to produce up to 600 million diagnostic kits annually, enough to meet about 80 per cent of Nigeria’s diagnostic testing needs while creating opportunities for export to other African countries and global markets.
The factory manufactures rapid diagnostic tests (RDTs) and in-vitro diagnostic (IVD) products under the N-CheckUP brand for diseases and conditions including malaria, hepatitis B and C, HIV, typhoid, syphilis, COVID-19, pregnancy and blood glucose monitoring.
According to Halilu, the project aligns with NASENI’s broader mandate of deploying science, technology and innovation to address national challenges, create jobs and build industrial capacity.
He expressed appreciation to Professor Wirth and members of the Harvard delegation for their recognition of the progress made at the facility and reaffirmed NASENI’s commitment to developing innovative solutions that improve lives and position Nigeria as a leading healthcare manufacturing hub in Africa.
The Science of Defeating Malaria programme, which was held in Abuja from June 7 to 13, brought together global experts committed to advancing strategies for malaria elimination and strengthening public health systems worldwide.
National Information Technology Development Agency (NITDA) has entered into a strategic partnership with the Development Agenda for Western Nigeria (DAWN) Commission through the signing of a Memorandum of Understanding (MoU) aimed at accelerating digital literacy, innovation development, and economic growth across Southwest Nigeria.
Director General NITDA, Kashifu Inuwa CCIE, Director General DAWN Commission Dr Seye Oyeleye alongside representatives of both organisations, display signed copies of the Memorandum of Understanding (MoU) upon its signing at NITDA Headquarters, Abuja.
Speaking at the signing ceremony in Abuja, NITDA Director General, Kashifu Inuwa, described the agreement as a significant step toward leveraging human capital and fostering regional collaboration to drive sustainable national development.
He commended the Southwest region for its longstanding culture of cooperation, noting that collective action remains essential for national progress.
“The Southwest continues to inspire when it comes to collaboration because no one succeeds in isolation. Other regions can learn from this model of cooperation.
“For Nigeria to grow, we must understand our strengths at both the state and regional levels and build on them,” he said.
Inuwa emphasised that Nigeria’s greatest resource is its people, stressing that investments in digital skills, innovation, and technology are critical to creating prosperity and expanding economic opportunities.
According to him, the partnership will facilitate knowledge exchange, capacity building, and innovation-driven initiatives capable of empowering citizens to develop local solutions with national and global impact.
Highlighting NITDA’s ongoing efforts to deepen digital transformation nationwide, he said the Agency is scaling digital literacy programmes, supporting innovation hubs, and promoting technology development across the country.
He noted that innovation flourishes where talent, infrastructure, and supportive policies intersect, making it important for every region to identify and strengthen its comparative advantages.
“Lagos has already established itself as a fintech hub and the commercial centre of the country. Abuja is emerging as a GovTech cluster, while other regions can develop specialised ecosystems around manufacturing, commerce, and other sectors.
“Every region possesses unique strengths that can be transformed into thriving innovation clusters,” he stated.
The NITDA boss expressed optimism that the collaboration would accelerate the implementation of the Agency’s strategic initiatives throughout the Southwest.
He added that both organisations had already begun working together prior to the formalisation of the agreement and called for swift action following the signing.
“We are excited about this partnership and look forward to translating our shared vision into tangible outcomes. While engagements have already commenced, I would like to see even greater momentum after the signing of this MoU,” he added.
In his remarks, the Director General of the DAWN Commission, Seye Oyeleye, highlighted the importance of digital literacy in preparing citizens for future opportunities and ensuring meaningful participation in the digital economy.
He noted that the Commission, which coordinates development initiatives across Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo States, views the partnership as a strategic vehicle for advancing Nigeria’s digital transformation agenda.
Oyeleye highlighted Nigeria’s target of equipping 100 million citizens with digital skills by 2030 through the Digital Literacy for All Initiative, stressing that the Southwest has a pivotal role to play in achieving the national objective.
“Nigeria has committed to equipping 100 million citizens with digital skills by 2030. Southwest Nigeria is not merely a contributor to that vision; it is central to its success,” he said.
He explained that the MoU formalises a shared commitment to ensuring the effective implementation of NITDA’s programmes, particularly the National Digital Literacy Framework, across the region.
He added that the Commission would leverage its extensive network and partnerships across the six Southwest states to bridge federal digital initiatives with local communities, institutions, and young people.
“We will work to ensure that NITDA’s frameworks are not only implemented but strengthened. Our reach across the Southwest positions us to connect federal digital infrastructure and programmes with communities and young people who require the skills needed to thrive in the digital economy,” he stated.
Oyeleye further assured NITDA of the Commission’s commitment to delivering measurable results throughout the five-year duration of the agreement, noting that the true value of development institutions lies in the impact they create rather than the agreements they sign.
The MoU reflects the shared determination of both organisations to advance digital literacy, strengthen innovation ecosystems, and create sustainable economic opportunities for citizens across Southwest Nigeria, further supporting the country’s journey toward a robust and inclusive digital economy.
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