This paper examines the political economy of armed banditry in Northern Nigeria, framing it as an industrial complex driven by economic incentives, state complicity, and globalized illicit markets. Drawing on Marxist theories of primitive accumulation and neoliberal dispossession, the study analyzes historical roots, contemporary dimensions, and socio-economic impacts. Data from government reports, media, and scholarly sources reveal a lucrative shadow economy fueled by kidnapping, cattle rustling, and resource extraction, with annual revenues rivaling formal sectors. The paper concludes with recommendations for integrated policy responses.