THE Nigerian Fishing Trawlers Association, NITOA, has said that the country lost N30 billion to pirate attacks on fishing vessels in the last four years, a development that is responsible for the decline in the nation's fishing industry.

Meanwhile, the International Maritime Bureau, IMB, recorded 200 pirate attacks on vessels in Nigeria contrary to the 40 cases reported by the Nigerian authorities.

According to NITOA President, Mrs. Margaret Orakwusi, the 293 documented sea robberies aimed at Nigerian-owned fishing vessels between 2003 and 2008.

She disclosed that in a particular week, about 20 vessels suffered massive attacks while 10 crewmen lost their lives to the attacks.

Orakwusi explained that most of the attacks saw the nessels being held for ransom, while others were carried by villagers who demanded toll to allow the vessels to pass.

According to her, "This piratical activity cost Nigeria $200 million in four years, it has also been responsible for the decline in Nigeria's fishing industry from 40 companies with 250 registered vessels to 19 with 170 vessels."